Purses, Handle Climb in Kentucky Through Nov. 25

Bucking negative trends seen across much of North America, total wagering on horse racing in Kentucky is up 4.2% this year through Nov. 25 compared to the corresponding date in 2022, a track executive told the Kentucky Thoroughbred Development Fund Advisory Committee Nov. 29.

The figures from 2022 do not include wagering from the Breeders' Cup at Keeneland. The Breeders' Cup was held this year at Santa Anita Park in Southern California.

Gary Palmisano, executive director of racing for Churchill Downs Inc., shared the handle figures with committee members shortly before receiving their recommendation for $56,000 in KTDF-supported advertising to promote the upcoming Turfway Park holiday and winter/spring meet. CDI owns Turfway Park, Churchill Downs, and Ellis Park—three of the five Thoroughbred tracks in Kentucky.

Committee recommendations are subject to full Kentucky Horse Racing Commission approval.

Even accounting for more race dates through this past Saturday—182 compared to 177 in 2022—purses and betting are up per card and race. The average race in Kentucky this year has been worth $107,817, an increase of 4.7%, and the average race handle is $897,920, a rise of 1.5%.

Purses in Kentucky have increased in recent years due to historical horse racing gaming revenue, contributing to deeper fields and a more compelling wagering product.

The handle increases come despite continued problems with the Churchill Downs turf course, which resulted in numerous scheduled grass races in 2023 and 2022 being run on dirt.