Economic Indicators: October Wagering Declines 9.34 Percent, Year-To-Date Handle Down Nearly 5 Percent

The trend of fewer races and lower pari-mutuel wagering volume continued in October in the latest economic indicator report released by Equibase, the Thoroughbred industry's official database.

Equibase reported wagering on U.S. races was $818,992,887, down 9.34 percent from October 2022 when $903,320,8338 was bet. The number of race days declined by 4.52 percent and total races were down 6.18 percent. Purse money paid was down by 10.81 percent.

Average field size was up marginally in October and year-to-date. For the first ten months of 2023, the average field size was 7.35 runners, up 1.66 percent from 7.23 in 2022.

Based on third quarter data released last month, the year-end total wagering handle will be approximately $11.5 billion, assuming fourth quarter wagering is similar to 2022. From 1997 through 2009, wagering ranged between $12 billion and $15 billion annually – the highest coming in 2003 when $15.2 billion was bet. Since 2010, wagering exceeded $12 billion twice, in 2021 and 2022.

Purses paid out, on the other hand, hit an all-time record in 2022 when they topped $1.25 billion.

October 2023 vs. October 2022
Indicator	October 2023	October 2022	% Change
Wagering on U.S. Races*	$818,992,887	$903,320,833	-9.34%
U.S. Purses (Available)	$108,573,068	$121,214,557	-10.43%
U.S. Purses (Paid)	$104,291,861	$116,938,359	-10.81%
U.S. Race Days	317	332	-4.52%
U.S. Races	2,610	2,782	-6.18%
U.S. Starts	20,265	21,152	-4.19%
Average Field Size	7.76	7.60	+2.12%
Average Wagering Per Race Day	$2,583,574	$2,720,846	-5.05%
Average Available Purses Per Race Day	$342,502	$352,224	-2.76%

YTD 2023 vs. YTD 2022
Indicator	YTD 2023	YTD 2022	% Change
Wagering on U.S. Races*	$9,948,872,962	$10,439,976,550	-4.70%
U.S. Purses (Available)	$1,097,812,797	$1,103,251,147	-0.49%
U.S. Purses (Paid)	$1,052,378,367	$1,062,160,669	-0.92%
U.S. Race Days	3,385	3,555	-4.78%
U.S. Races	27,473	28,792	-4.58%
U.S. Starts	201,868	208,102	-3.00%
Average Field Size	7.35	7.23	+1.66%
Average Wagering Per Race Day	$2,939,106	$2,936,702	+0.08%
Average Available Purses Per Race Day	$324,317	$298,779	+8.55%

* Includes worldwide commingled wagering on U.S. races.