Posts Tagged ‘u.s. handle’
Sunday, July 5th, 2009
By Ray Paulick
Pari-mutuel wagering on U.S. races nosedived in June, dropping by almost 17% compared with June of 2008, according to statistics released by Equibase. Purses fell by more than 10% in June. The number of U.S. race days fell by less than 6% for the month, compared with June 2008.
The steep drop reflects the continuing trend of falling handle at tracks from coast to coast, along with a reduction in racing dates at some major tracks (Churchill Downs and Hollywood Park have cut back from five days per week to four). In addition the June 2008 handled was boosted by a huge day at Belmont Park when Big Brown was going for a Triple Crown. This year’s Belmont Stakes day handle was down about $10 million. June 2008 included nine weekend days of racing, with June 2009 having just eight. Weekend programs produce the largest handle.
Those facts notwithstanding, the declines in June are troubling and have led to a year-to-date drop of more than 10%, despite just a 2% reduction in the overall number of racing days, according to Equibase. Purses for the year have fallen by 6%.
If the declines persist, 2009 will be the fifth year in the last six that pari-mutuel wagering on U.S. races has fallen, and the year-end totals may be the lowest since 1998, when just over $13 billion was handled. The record high came in 2003 when nearly $15.2 billion was wagered on U.S. races. Click here for the recent year-end handle figures.
Thoroughbred Racing Economic Indicators
For June 2009
June 2009 vs. June 2008
|
Indicator
|
June 2009
|
June 2008
|
% Change
|
|
Wagering on U.S. Races*
|
$993,578,873
|
$1,195,562,620
|
-16.89%
|
|
U.S. Purses
|
$101,126,923
|
$112,735,233
|
-10.30%
|
|
U.S. Race Days
|
620
|
657
|
-5.63%
|
YTD 2009 vs. YTD 2008
|
Indicator
|
YTD 2009
|
YTD 2008
|
% Change
|
|
Wagering on U.S. Races*
|
$6,503,994,769
|
$7,265,400,239
|
-10.48%
|
|
U.S. Purses
|
$507,165,548
|
$539,745,595
|
-6.04%
|
|
U.S. Race Days
|
2,814
|
2,873
|
-2.05%
|
* Includes worldwide commingled wagering on U.S. races.
Tags: equibase, Horse Racing, pari-mutuel wagering, Paulick Report, Ray Paulick, u.s. handle
Posted in Thoroughbred Business, Wagering | 24 Comments »
Thursday, June 4th, 2009
By Ray Paulick
Betting on American Thoroughbred racing continued its downward slide in May, dropping 8.26%, from $1.5 million in 2008 to just under $1.4 billion in 2009. There were 31 fewer U.S. racing days this May compared with May 2008, a number that is expected to fall even farther as tracks like Hollywood Park and Churchill Downs reduce from five days a week to four.
Purses also fell again in May, dropping by 6.73%.
There were 10 weekend days plus the Memorial Day holiday in May of 2009, compared with nine weekend days and Memorial day in 2008. Handle is higher on weekends and holidays than on normal weekdays.
Year-to-date figures are down 9.22% in handle, and 5.54% in purses despite a less than 1% drop in total racing days. With more wagering dollars continuing to shift from on-track to off-track or account wagering, a smaller percentage of each dollar bet goes toward purses. Subsidies from casino wagering and slot machines at tracks (racinos) have kept purses from falling at the same rate as the decline in handle.
The U.S. racing industry is almost certain to suffer year-end wagering declines for the fifth time in the last six years. At the current rate of decline, year-end handle will be just under $12.5 billion, the lowest total since 1996. (Click here to see the historical trend.)
Statistics are from Equibase.
Thoroughbred Racing Economic Indicators
For May 2009
May 2009 vs. May 2008
|
Indicator
|
May 2009
|
May 2008
|
% Change
|
|
Wagering on U.S. Races*
|
$1,375,229,442
|
$1,499,103,122
|
-8.26%
|
|
U.S. Purses
|
$105,106,967
|
$112,695,212
|
-6.73%
|
|
U.S. Race Days
|
598
|
629
|
-4.93%
|
YTD 2009 vs. YTD 2008
|
Indicator
|
YTD 2009
|
YTD 2008
|
% Change
|
|
Wagering on U.S. Races*
|
$5,510,415,896
|
$6,069,837,619
|
-9.22%
|
|
U.S. Purses
|
$403,346,939
|
$427,010,362
|
-5.54%
|
|
U.S. Race Days
|
2,194
|
2,216
|
-0.99%
|
* Includes worldwide commingled wagering on U.S. races.
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Tags: betting turnover, economic indicators, equibase, handle, horse race betting, Horse Racing, horse racing declines, pari-mutuel handle, Paulick Report, Ray Paulick, u.s. handle
Posted in Thoroughbred Business, Wagering | 2 Comments »
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