Economic Indicators: Total 2020 Handle Continues To Show Signs Of Recovery

Equibase, LLC released its monthly report on Economic Indicators in Thoroughbred Racing this Wednesday, Aug. 5. Due to the COVID-19 outbreak, Equibase is currently providing monthly reporting of its Economic Indicators Advisories. The Advisory is typically disseminated on a quarterly basis to provide key metrics used to measure racing’s performance throughout the year.

While the pandemic means most tracks are currently racing without fans, average daily wagering in 2020 continues to show strong increases over 2019 numbers as racing remains one of the few sports able to operate in concert with pandemic protocols. In the month of July, average daily wagering was up 41.83 percent in 2020, while the year-to-date figures show an increase of 41.72 percent.

Overall wagering figures are still showing the effects of the rescheduled Kentucky Derby, though year-to-date total handle is down just 6.96 percent thus far in 2020. Considering that the total number of race days and races held in 2020 are down 34.25 percent and 33.08 percent, respectively, the total handle is actually doing quite well.

Additionally, numbers from the first six months of 2020 showed year-to-date wagering down 10.88 percent, so the differential is decreasing as 2020 goes on and racing adjusts to a “new normal.”

Whether the Kentucky Derby will be able to be held with fans present remains to be seen, and that could affect how handle continues to recover through the remaining months of one of the most unique years in recent history.

July 2020 vs. July 2019
Indicator July 2020 July 2019 % Change
Wagering on U.S. Races* $1,098,943,728 $942,243,633 +16.63%
U.S. Purses $90,224,084 $103,342,574 -12.69%
U.S. Race Days 398 484 -17.77%
U.S. Races 3,280 3,742 -12.35%
U.S. Starts 24,984 26,612 -6.12%
Average Field Size 7.62 7.11 +7.11%
Average Wagering Per Race Day $2,761,165 $1,946,784 +41.83%
Average Purses Per Race Day $226,694 $213,518 +6.17%

 

 

YTD 2020 vs. YTD 2019
Indicator YTD 2020 YTD 2019 % Change
Wagering on U.S. Races* $6,154,466,247 $6,615,017,905 -6.96%
U.S. Purses $414,380,742 $647,344,706 -35.99%
U.S. Race Days 1,699 2,588 -34.35%
U.S. Races 14,186 21,199 -33.08%
U.S. Starts 113,058 156,851 -27.92%
Average Field Size 7.97 7.40 +7.71%
Average Wagering Per Race Day $3,622,405 $2,556,035 +41.72%
Average Purses Per Race Day $243,897 $250,133 -2.49%

 

The post Economic Indicators: Total 2020 Handle Continues To Show Signs Of Recovery appeared first on Horse Racing News | Paulick Report.

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