Wagering handle on U.S. races plummeted in December, helping to secure a third straight year of declining betting on Thoroughbred racing in the country.

For the year, US tracks handled $11.265 billion from all sources, including worldwide wagering commingled on US races. That represented a 3.35% decline from 2023, according to Equibase data.

Since a big rebound in 2021 pushed handle to more than $12.2 billion, it has dropped nearly eight percent, according to figures from The Jockey Club. Handle is off by more than a quarter since reaching its all-time high in 2003 of nearly $15.2 billion; in inflation-adjusted dollars, that’s a decline of 57%.

Handle in December was especially dismal, falling more than 14% versus 2023. While the number of race days and races both were down, thus contributing to the decline, wagering per race was off by 8.6% and wagering per starter was also down, by 6.6%.

Handle was down in seven of 12 months during 2024, but what was especially troubling was the magnitude of the declines. In five of 12 months, handle dipped by 9.7% or more, while only once in 12 months – in June – did it increase by that amount.

For the year, other major metrics were something of a mixed bag. The number of races and race days both dipped by between two and three percent, continuing a decadeslong trend that has seen the number of races fall from more than 70,000 in 1990 to less than 31,000 in 2024.

Purses, a lagging indicator significantly influenced by non-parimutuel subsidies, such as from slot machines, were up very slightly, by less than one percent. Combine that with fewer race days, and purses per race day increased by a shade under 3% to more than $346,000.

Field size was 7.45 runners per race, basically unchanged from 2023 (7.43). Wagering per race day, on, again, fewer race days, was off by one percent.

U.S. HANDLE

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