Third-Quarter Handle 10.2% Ahead of Pre-Pandemic 2019

Wagering in the U.S. fell more than 12.3% during September to contribute to a 2% third-quarter slide this year, but wagering remains up sharply relative to pre-pandemic figures from 2019, according to data supplied Oct. 5 by Equibase.

Compared to two years ago, betting during the most recent quarter climbed 10.2% from about $2.9 billion to $3.2 billion.

Last year, the Kentucky Derby Presented by Woodford Reserve (G1) and other major races from Churchill Downs were contested in early September after COVID-19 forced the postponement of the race from its customary placement in early May. The Derby Day program and Kentucky Oaks Day card are two of the most popular cards with bettors each year and spiked betting during the third quarter of 2020.

Other tracks also repositioned stakes and major events amid a shuffled stakes calendar last year.

Purses, bolstered by gaming revenue in some jurisdictions, rose to nearly $365.4 million this past quarter, a 4.4% climb relative to 2019. But average starters per race, a key metric for horseplayers who prefer large fields and competitive racing, dropped 3.4% to 7.03 horses per race. That average was 7.28 in 2019 and 7.65 during the third quarter of 2020 during a resumption of racing after COVID-19 shutdowns in the spring.

Year-to-date handle at nearly $9.5 billion in 2021 puts betting 10.5% ahead of 2019's $8.6 billion.