Second-Quarter Betting Off Slightly Despite June Surge

Despite a 10.3% surge in June wagering, second-quarter betting on United States racing closed marginally lower than during the same period last year. Second-quarter betting tallied $3,360,291,220 compared to $3,375,532,482 in 2023, a decrease of 0.45%, according to figures published July 5 by Equibase.

A decline in race dates and races coincided with the small second-quarter handle drop. Three fewer race dates and 26 fewer races were held during the second quarter, a reduction of -0.29% and 0.31% from 2023. Purses rose by a small amount, as did starts and field size, which averaged 7.25 starters for the quarter.

In June, wagering swelled from $934,408,369 in 2023 to $1,030,704,162 this year.

Record betting occurred during the recently concluded spring meet at Churchill Downs. Wagering on Kentucky racing was much higher than a year ago when the spring meet was moved to the smaller Ellis Park after a series of equine breakdowns at Churchill Downs.

This year's June totals also include figures from a successful four-day Belmont Stakes Racing Festival that took place at Saratoga Race Course rather than Belmont Park due to ongoing reconstruction at Belmont.

Every metric tracked by Equibase was up this past month compared to June 2023. Paid purses rose 9.34% to $117,249,923; race days increased from 388 and 408; and field size still outpaced last June by 2.12% to check in at an average of 7.18 runners per race.