The betting numbers are in for 2024 and, progress. Total handle (wagering from all sources) for U.S. horse races was down 3.35% from 2023. What’s more, this is the third consecutive annual decline. What’s more, the last year-over-year increase came in 2021 – but we can throw that one out as that bump came after covid-ravaged (less racing) 2020. But for the best part, I’ll quote Bill Finley in the Thoroughbred Daily News:
“The more alarming trend is how far handle has fallen since it peaked in 2003 when $15.18 billion was wagered. When adjusted for inflation, since 2003 handle has fallen by 57.3%, and there doesn’t appear to be anything on the horizon that will reverse the trend.”
Betting on U.S. racing down 57% over the past 20 years. And another number: The “foal crop” – the number of new Thoroughbreds entering the system each year – for 2024 is estimated to come in at around 18,000. This would make it the smallest since 1965. 1965. In other words, folks, we’re winning.
