Economic Indicators: U.S. Wagering Increased In 2017, Despite Fewer Races, Race Days

Equibase, LLC released its year-end report on economic indicators in Thoroughbred racing. From 2016 to 2017, wagering on U.S. races increased, up by 1.59%, while purses declined by 0.37%. The number of race days in the U.S. fell to 4,573 in 2017, a drop of 2.06%; the number of races declined 1.71%.

Equibase’s economic indicators show similar results in December 2016 from the same month in 2016. Total wagering for the month was up 3.85%, accounting for over $744 million. U.S. purses also were higher, up 5.74%, while the number of race days declined by 1.08% from December of 2016.

Alex Waldrop, President and CEO, National Thoroughbred Racing Association released the following statement:

“The Equibase report of positive gains in wagering for the third year in a row is another positive economic indicator for Thoroughbred racing and breeding. Strong wagering gains for the 4th Quarter also correlate with reports of a 95-98 percent reduction in the number of W-2G filings for the latter part of the 4th quarter. With a robust economy, significant changes to the tax code for most, and a full year operating under the new withholding and reporting regulations enacted in late September, we are optimistic these positive wagering trends will continue in 2018.”

Charts Courtesy Equibase

YTD 2017 vs. YTD 2016
Indicator YTD 2017 YTD 2016 % Change
Wagering on U.S. Races* $10,903,635,795 $10,732,724,106 +1.59%
U.S. Purses $1,079,739,805 $1,083,695,684 -0.37%
U.S. Race Days 4,573 4,669 -2.06%
U.S. Races 37,628 38,284 -1.71%
U.S. Starts 290,745 298,784 -2.69%
Average Field Size 7.73 7.80 -0.99%
Average Wagering Per Race Day $2,384,351 $2,298,720 +3.73%
Average Purses Per Race Day $236,112 $232,104 +1.73%
4th QTR 2017 vs. 4th QTR 2016
Indicator 4th QTR 2017 4th QTR 2016 % Change
Wagering on U.S. Races* $2,398,456,785 $2,343,976,274 +2.32%
U.S. Purses $256,184,057 $264,178,537 -3.03%
U.S. Race Days 952 984 -3.25%
U.S. Races 8,068 8,258 -2.30%
U.S. Starts 66,440 68,394 -2.86%
Average Field Size 8.24 8.28 -0.57%
Average Wagering Per Race Day $2,519,387 $2,382,090 +5.76%
Average Purses Per Race Day $269,101 $268,474 +0.23%
December 2017 vs. December 2016
Indicator December 2017 December 2016 % Change
Wagering on U.S. Races* $744,188,343 $716,613,883 +3.85%
U.S. Purses $64,403,283 $60,908,694 +5.74%
U.S. Race Days 275 278 -1.08%
U.S. Races 2,359 2,349 +0.43%
U.S. Starts 19,792 19,975 -0.92%
Average Field Size 8.39 8.50 -1.34%
Average Wagering Per Race Day $2,706,139 $2,577,748 +4.98%
Average Purses Per Race Day $234,194 $219,096 +6.89%

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

The post Economic Indicators: U.S. Wagering Increased In 2017, Despite Fewer Races, Race Days appeared first on Horse Racing News | Paulick Report.

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