October Economic Numbers Not Ideal Comparison

While Breeders' Cup scheduling accounts for most of the wagering declines in October 2016 compared with October last year, handle still declined even when last year's Breeders' Cup is not considered.

The Thoroughbred racing economic indicators released by Equibase show an 18.54% decline in wagering and 17.3% decline in purses for October 2016 compared with October 2015 but much of those declines are because last year's Breeders' Cup World Championships were conducted in October and this year the two-day event was in November.

Still, handle did decline in the month. When the $150,574,656 wagered on last year's Breeders' Cup Oct. 30-31 at Keeneland is removed from the equation, handle still declined 3.6%. But even that 3.6% decline was likely impacted by Breeders' Cup scheduling as those days can generate added handle at tracks throughout the country.

For the year, wagering on U.S. races is down about 1% compared with last year but that number should move from red to black in November thanks to Breeders' Cup. Beyond having this year's Breeders' Cup numbers included in the November numbers, this year's event at Santa Anita Park saw a 6.9% bump in handle to $159,991,803. If this year's Breeders' Cup handle is included in the current year-to-date numbers, wagering on U.S. races would be up 0.7%.

In short, the numbers—specifically the year-to-date economic indicators—will be more telling after November. 

Total handle on U.S. races in October 2016 was about $790.1 million and total purses reached about $101.9 million. For the year, total race days are down 2.4% to 4,059. Average wagering per race day is up about 1.5% to $2,261,684 and that number will also spike after this year's Breeders' Cup is included in the November numbers.

Thoroughbred Racing Economic Indicators, October 2016