Winter Weather Cancellations Have February Wagering Numbers Down Over Six Percent

Equibase, LLC released its second monthly report of 2021 on Economic Indicators in Thoroughbred Racing on Thursday, March 4. Due to the COVID-19 outbreak, Equibase has been providing monthly 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.

A group of winter storm caused racing cancellations across much of the United States in February, most notably for two weeks at Oaklawn Park in Hot Springs, Ark, but extending to tracks from Texas up through the Northeast.

Therefore, the number of race days held in February of 2021 dropped by 26 percent compared to the same month in 2020, while the total number of races held dropped 22 percent.

Overall wagering decreased by 6.79 percent in February of 2021, though average daily wagering remained strong with a 25.98 percent increase over the same period. Year-to-date, overall wagering remained slightly higher than during the first two months of 2020, up by 1.30 percent.

Purses showed a similar change, with the total amount of purses paid out down 19.70 percent, but the average dollar amount of purses paid out per race day up 8.53 percent.

 

February 2021 vs. February 2020
Indicator February 2021 February 2020 % Change
Wagering on U.S. Races* $840,059,258 $901,272,610 -6.79%
U.S. Purses $62,100,791 $77,336,485 -19.70%
U.S. Race Days 219 296 -26.01%
U.S. Races 1,928 2,477 -22.16%
U.S. Starts 14,880 19,362 -23.15%
Average Field Size 7.72 7.82 -1.26%
Average Wagering Per Race Day $3,835,887 $3,044,840 +25.98%
Average Purses Per Race Day $283,565 $261,272 +8.53%
YTD 2021 vs. YTD 2020
Indicator YTD 2021 YTD 2020 % Change
Wagering on U.S. Races* $1,799,973,370 $1,776,919,630 +1.30%
U.S. Purses $133,200,888 $149,453,215 -10.87%
U.S. Race Days 474 579 -18.13%
U.S. Races 4,139 4,829 -14.29%
U.S. Starts 32,759 38,054 -13.91%
Average Field Size 7.91 7.88 +0.44%
Average Wagering Per Race Day $3,797,412 $3,068,946 +23.74%
Average Purses Per Race Day $281,015 $258,123 +8.87%

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

The post Winter Weather Cancellations Have February Wagering Numbers Down Over Six Percent appeared first on Horse Racing News | Paulick Report.

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