Trends Continue in October as Purses Rise, Wagering Down

[Wandering Eyes]

The slow, downward creep continues as wagering in October 2022 fell 4.93% when compared to the month's total in 2021, and purses saw a rise of almost 12.42%, with the daily racing day average sitting at +11.06%, according to Equibase's report of economic indicators released Friday, Nov. 4.

Overall, $903,455,809 was wagered in October 2022 compared to $950,283,112 last year despite there being 332 race days to 2021's 328; a 1.22% increase. Daily average wagering fell 6.07% from $2,897,205 in 2021 to $2,721,252 in 2022. Average field size also increased slightly by 0.69% from an average of 7.55 horses per race in 2021 to 7.60 this season.

Compared to this point in the year in 2021, wagering is almost on par with $10,443,740,372 in 2022 YTD and $10,445,477,843 last season. Purses rose by 11.62% from $988,374,722 in 2021 to $1,103,214,337 in 2022 as racing days outpace the year prior at 3,555 to 3,530; a 0.71% increase. The average field size decreased 0.92% from 7.30 horses per race in 2021 at this point in the racing calendar to 7.23 horses per race, and the daily average purses increased 10.83% from $279,993 in 2021 to $310,328.

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