Race Dates, Wagering Decline in First Quarter of 2025
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Photo: Anne M. Eberhardt
A bettor makes a wager
Betting on Thoroughbred racing in the United States continued to drop through the first quarter of 2025, with overall wagering declining 3.28% to $2,505,271,758, largely due to a 5.17% reduction in race days. Last year, there were 754 cards in the first quarter, compared to 715 in 2025, and the number of races dropped 3.73% from 6,410 to 6,171.
These statistics were published April 4 by Equibase.
Declines in horse populations and track closures contributed to fewer race days. During the first quarter of 2024, for example, Golden Gate Fields was racing before track operator 1/ST Racing closed the Northern California track in June.
Numerous cards across much of the country were canceled during the recently completed quarter due to harsh winter weather.
Paid purses, which are heavily bolstered by gaming revenue in most states, also fell 3.22% over the quarter to $246,074,162.
With a reduction in racing, average field size grew 3.23% to 7.93 runners per race. Average wagering per race day and average available purses per race day were also up 2% and 2.68%, respectively.
Figures for the most recent month in March mirrored the first-quarter results, though with somewhat larger percentage declines in wagering, purses, race days, and races.
The latest handle figures follow reductions in 2024 in which betting dropped 3.35% compared to 2023, topped by a 5.01% drop in the fourth quarter.
| Thoroughbred Racing Economic Indicators For March and First Quarter 2025 |
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|
March 2025 vs. March 2024 |
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|
Indicator |
March 2025 |
March 2024 |
% Change |
|
Wagering on U.S. Races* |
$931,202,013 |
$971,986,445 |
-4.20% |
|
U.S. Purses (Available) |
$98,654,702 |
$103,017,031 |
-4.23% |
|
U.S. Purses (Paid) |
$93,300,789 |
$98,043,402 |
-4.84% |
|
U.S. Race Days |
263 |
285 |
-7.72% |
|
U.S. Races |
2,266 |
2,403 |
-5.70% |
|
U.S. Starts |
17,480 |
18,115 |
-3.51% |
|
Average Field Size |
7.71 |
7.54 |
+2.33% |
|
Average Wagering Per Race Day |
$3,540,692 |
$3,410,479 |
+3.82% |
|
Average Available Purses Per Race Day |
$375,113 |
$361,463 |
+3.78% |
|
1st QTR 2025 vs. 1st QTR 2024 |
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|
Indicator |
1st QTR 2025 |
1st QTR 2024 |
% Change |
|
Wagering on U.S. Races* |
$2,505,271,758 |
$2,590,186,980 |
-3.28% |
|
U.S. Purses (Available) |
$260,351,780 |
$267,373,932 |
-2.63% |
|
U.S. Purses (Paid) |
$246,074,162 |
$254,252,188 |
-3.22% |
|
U.S. Race Days |
715 |
754 |
-5.17% |
|
U.S. Races |
6,171 |
6,410 |
-3.73% |
|
U.S. Starts |
48,952 |
49,256 |
-0.62% |
|
Average Field Size |
7.93 |
7.68 |
+3.23% |
|
Average Wagering Per Race Day |
$3,503,877 |
$3,435,261 |
+2.00% |
|
Average Available Purses Per Race Day |
$364,128 |
$354,607 |
+2.68% |
| * Includes worldwide commingled wagering on U.S. races. | |||