US racing wagers tops $911 million in November
U.S. horse racing business just reported its its annual betting handle statistics, according to Equibase‘s most recent release of economic indicator data, revenues were down 1% to $910.7 million in November. It’s important to remember that this occurred with more than 30% fewer races.
The pandemic hit the industry hard in 2020. Some industries prospered, like the online gaming market. Some of the best in NJ online casinos attract hundreds of thousands of players annually.
But the fact that the American horse racing business had a considerable increase despite recovering from the ravages of a pandemic, the major negative press brought on by widely reported scandals, safety concerns, and regulatory reforms brought on by new laws is particularly noteworthy.
The resilience of Thoroughbred racing was on full show in 2023, according to NTRA President and CEO Tom Rooney, as the organization ended the year with a considerable rise in revenues and total handling of more than $12 billion, the largest since 2009.