Racing economic indicators feeling summertime blues
Handle down for seventh time in eight months
The Biz
September 8, 2026
The U.S. Thoroughbred industry continued to see declines in wagering and racing activity through August, while average available purses per race day remained above 2025 levels, according to the latest economic indicators from Equibase.
Wagering on U.S. races totaled $7.56 billion through the first eight months of 2026, down 4.80% from $7.94 billion during the comparable period last year.
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In August handle was off 6.43%, marking the seventh time in eight months this year that handle lagged the same month in 2025. It also was the fourth consecutive month in which handle was down by at least four percent.
The decline in handle has come amid a contraction in racing activity. The industry conducted 2,425 race days through August, down 2.34% from 2,483 in 2025. The number of races fell 2.79%, from 20,260 to 19,694.
The number of starts has declined at a considerably faster rate. There were 141,475 starts through August, down 5.72% from 150,062 last year. Average field size has consequently fallen as well, from 7.41 starters per race in 2025 to 7.18 this year, a decline of 3.01%.
Average wagering per race day also has declined, falling 2.53% to $3.118 million from $3.198 million through August 2025.
Purses have been comparatively stable. Available purses through August totaled $841.8 million, down just 0.61% from $847.0 million last year. Purses paid totaled $806.9 million, a decline of only 0.16% from $808.2 million in 2025.
On a per-race-day basis, available purses have actually increased. The average available purse money per race day is $347,142 through August, up 1.76% from $341,124 last year.
The August numbers contributed to the overall decline. During the month, wagering fell 6.43% to $1.127 billion from $1.204 billion in August 2025. Race days declined 6.48%, races dropped 6.85% and starts fell 8.22%.
Available purses in August fell 10.62%, to $136.7 million from $152.9 million, while purses paid declined 8.86%, to $132.2 million. Average available purses per race day fell 4.42%, from $381,336 to $364,486.
One of the more notable figures in the August data was average wagering per race day, which was essentially unchanged from last year. The August 2026 average was $3.005 million, compared with $3.003 million in August 2025, an increase of 0.06%.
The year-to-date figures show an industry conducting fewer races with fewer horses, while maintaining purse levels relatively close to those of 2025. The result is a 4.8% decline in total wagering through August, with the decrease in starts and field size outpacing the decline in race days and races.
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