Wagering on US thoroughbred racing is on the decline. In fact, it has dropped for the third consecutive year, with 2024 bringing its worst numbers since the COVID-19 pandemic in 2020.
A total of $11.27bn was wagered on American horse racing last year, down around 3% from the prior year. While that might not seem like a large percentage, it equates to a total of around $390m in bets. Race days, races, and starts also declined for the year.
wagering dropped around 14% for the final month of 2024
The year was summed up by a dismal December for wagering. As per Equibase LLC, the industry’s official database, wagering dropped around 14% for the final month of 2024. Only three other months also had double-digit drops, including January, April, and September, which all declined 11%.
June, on the otherhand, actually clocked a double-digit increase – the only month to do so. Wagering for this month grew 10% year-on-year.
According to industry insiders, the decline is likely the result of a lack of foals. Thoroughbred foals are in short supply, the current crop being the smallest since 1965. This means less races are run in North America, and bettors have less wagering options as a result.