The betting numbers are in for 2024 and, progress. Total handle (wagering from all sources) for U.S. horse races was down 3.35% from 2023. What’s more, this is the third consecutive annual decline. What’s more, the last year-over-year increase came in 2021 – but we can throw that one out as that bump came after covid-ravaged (less racing) 2020. But for the best part, I’ll quote Bill Finley in the Thoroughbred Daily News:
“The more alarming trend is how far handle has fallen since it peaked in 2003 when $15.18 billion was wagered. When adjusted for inflation, since 2003 handle has fallen by 57.3%, and there doesn’t appear to be anything on the horizon that will reverse the trend.”
Betting on U.S. racing down 57% over the past 20 years. And another number: The “foal crop” – the number of new Thoroughbreds entering the system each year – for 2024 is estimated to come in at around 18,000. This would make it the smallest since 1965. 1965. In other words, folks, we’re winning.
This is encouraging news!
Good news, indeed!! I am confident that the trend will continue, as horseracing is becoming increasingly unpopular, especially with young people.
Not all of the baby Thoroughbreds born in each calendar year will survive long enough to be registered. In some cases, the foals are sold as grade or not registered. I know this happens but I don’t know how many, of course.
Out of the Jockey Club registered Thoroughbred babies intentionally used for racing, not all of them will make the cut to be viable gambling chips or racehorses. Many of these young horses will be sent to their deaths at a slaughter house. It’s one of the many realities. That leaves a fraction of the original foal crop in a calendar year to be exploited as racehorses. That leaves an even smaller fraction of Thoroughbreds that will be mentioned by name in the Paulick Report, the BloodHorse, Thoroughbred Daily News, Horse Racing Nation and Daily Racing Form. The people behind these publications don’t care about the horses as sentient beings, but only as gambling chips.