Economic Indicators: Wagering Down, Average Field Size Up Slightly In April

While wagering in April of 2024 dipped 11.42 percent compared to the same month in 2023, the comparison isn't quite apples-to-apples. April of 2023 had 10 weekend days, while 2024 only had eight, because of the way the calendar fell.

In addition, the Florida Derby card was held on April 1 in 2023, but on March 30 in 2024; that's a major shift since $33.7 million was wagered this year on Florida Derby day.

A more revealing statistic released Monday by Equibase, LLC is that of the year-to-date wagering, comparing the first four months of 2024 to the first four months of 2023. In that respect, wagering has decreased 6.10 percent in 2024.

Keeneland's blockbuster spring meet in April also saw a decrease in handle of 8.6 percent compared to 2023, despite record wagering on Blue Grass day. All-sources wagering for the Spring Meet, held April 5-26, totaled $218,741,501, a decrease of 2.5 percent from last spring’s record $224,348,745 for 15 days of racing.

Wagering was also down compared to March. A total of $972,056,343 was bet in March of 2024, while $926,855,960 was bet in April of 2024. However, May, featuring the Kentucky Derby and Preakness, is the annual leader in wagering totals, with $1.4 billion bet in 2023. This year's Kentucky Derby card and the entire week at Churchill Downs set wagering records, so those numbers could recover over the ensuing weeks.

July and April were the other months exceeding $1 billion last year.

Field size continues to show a slight uptick in 2024; the year-to-date figure is up to an average 7.65 horses per race, increased by .98 percent over the first four months of 2023.

Average wagering per race race is up by 1.24 percent for the first four months of the year, as a result of there being 7.25 percent fewer race days and 7.21 percent fewer races.