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Third Quarter U.S. Thoroughbred Handle Rises 1.8%

The third-quarter figures included a $24.5 million rise in handle during September.

A bettor holds tickets and program at Saratoga Race Course

A bettor holds tickets and program at Saratoga Race Course

Anne M. Eberhardt

Including an approximate $24.5 million rise in handle during September, third-quarter wagering on U.S. Thoroughbred racing rose nearly 1.8% to $3,275,502,012 compared to the comparable period in 2021, according to Equibase statistics.

Pacific Classic Day, which has historically taken place in August, was staged last month at Del Mar Sept. 4. Del Mar's all-sources handle reached $27.8 million for that program, the second-highest handle on a non-Breeders' Cup Day in track history.

Purses, funded from wagering and supplemented by gaming in many states, climbed up to $393,292,695 in the third quarter of 2022, rising more than 7.6% from the corresponding period from last year. Kentucky is among the states that have seen a dramatic rise in purses due to historical horse racing gaming growth.

Kentucky Downs and Churchill Downs, both of which have profitable HHR operations, conducted race meets in the Bluegrass State last month.

Race dates dipped to 1,294, down just over 2%, and the number of races dropped to 10,140, off more than 2.8%. Starts for the third quarter of the year was 71,936, down almost 1.9%.

Average field size rose almost 1% to 7.09 starters per race, though still as a low figure, field size remains a troubling indicator for racetracks. Bettors typically wager more in races with large fields.

Average betting per race day climbed 3.9% to $2,531,300, and daily purses averaged $303,936.