US wagering handle down 6% in troubled January
Difficult weather underscores industry challenges
The Biz
February 5, 2026
With inclement weather pummeling much of the country in January and forcing repeated racing cancellations, wagering handle on U.S. Thoroughbred racing was down more than 6% in January versus January 2025. It marked the third consecutive month in which handle declined by at least six percent, according to Equibase.
Equibase recorded 57 instances in which a track cancelled at least one race during January.
Total wagering on U.S. races fell to $753.9 million, a 6.09% drop from a year earlier, as the sport grappled with a sharply reduced racing schedule. Race days declined 12.02% to 205, while the number of races dropped nearly 14% to 1,724.
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Worse yet, despite reductions in the number of races, the number of starters per race also fell. The average field size was off 2.7%, falling to 7.92 runners per event.
Purses declined at an even steeper rate than handle. Available purses fell 12.93% to $73.1 million, while purses paid dropped 13.69% to $68.6 million. The contraction closely tracked the reduction in racing opportunities, with fewer cards and races limiting purse distribution across the country.
Average wagering per race day increased 6.74% to $3.68 million, suggesting that when racing did go forward, bettors remained engaged. Wagering per betting interest jumped 11.66% year over year.
Handle in 2025 was off 2.1% versus the prior year and continues a long, infrequently interrupted decline in racing’s popularity.
With three straight months of handle declines of at least six percent, the January figures underscore the vulnerability of the U.S. racing economy to weather disruptions and a compressed racing calendar.
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