Horse Racing

Without Derby, Oaks And Preakness, May Pari-Mutuel Handle Plunges


Racing was conducted without spectators throughout the United States because of the coronavirus pandemic

Wagering totals on Thoroughbred racing in the United States for the month of May show dramatic declines compared with 2019 when Churchill Downs and Pimlico reported record handle on three of the sport’s biggest events: Kentucky Oaks, Kentucky Derby and Preakness days.

Because of the coronavirus pandemic, the Oaks and Derby have been rescheduled from their traditional dates on the first Friday and Saturday in May to Friday and Saturday, Sept. 4-5, while the Preakness, run last year on May 18, has been postponed until Oct. 2.

All three days registered record pari-mutuel wagering in 2019, the Oaks handling $60.2 million, the Kentucky Derby $250.9 million and the Preakness $99.9 million, for a total of $411 million.

If a similar amount was added to 2020 wagering statistics for May, monthly handle would be up slightly despite a dramatic decline in race days and total races run. With those marquee events missing, total wagering for May was down 30.16% in 2020.

With far fewer racing days and races run in 2020, the amount bet per day and race soared by 155.5% and 140.7%, respectively, even without three of the biggest betting days of the year.

The other byproduct of fewer racing days and races was an increase in average field size, from 7.11 in 2019 to 8.64 in 2020.

Purses did not fare so well on average, increasing by only 1.03% per day – a reflection of the loss of betting on-track and at OTB facilities where a greater percentage of each dollar bet goes toward purses. Virtually all pari-mutuel bets in May were made via advance deposit wagering. May 2020 purses in many states also did not include substantial subsidies from slot machines or casino wagering.

The 2020 ratio of purse money to handle was 3.5%, compared with 8.9% in 2019.

May 2020 vs. May 2019
Indicator May 2020 May 2019 % Change
Wagering on U.S. Races* $908,504,654 $1,300,923,869 -30.16%
U.S. Purses $31,971,002 $115,776,828 -72.39%
U.S. Race Days 123 450 -72.67%
U.S. Races 1,059 3,650 -70.99%
U.S. Starts 9,145 25,955 -64.77%
Average Field Size 8.64 7.11 +21.44%
Average Wagering Per Race Day $7,386,217 $2,890,942 +155.50%
Average Purses Per Race Day $259,927 $257,282 +1.03%

 

YTD 2020 vs. YTD 2019
Indicator YTD 2020 YTD 2019 % Change
Wagering on U.S. Races* $4,057,074,219 $4,681,850,887 -13.34%
U.S. Purses $254,693,053 $428,807,298 -40.60%
U.S. Race Days 1,001 1,605 -37.63%
U.S. Races 8,421 13,552 -37.86%
U.S. Starts 67,928 102,513 -33.74%
Average Field Size 8.07 7.56 +6.64%
Average Wagering Per Race Day $4,053,021 $2,917,041 +38.94%
Average Purses Per Race Day $254,439 $267,170 -4.77%

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





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