wagering

Worldwide commingled wagering on U.S. races fell year-to-date in 2023 by 2.81% from $5,288,282,017 last year to $5,139,620,402 this year when compared to corresponding figures in 2022. Paid-out purses rose by 2.85% as the number of race days fell by 1.87% and the number of races fell slightly from 12,515 in 2022 to 12,353 in 2023. The average available purses per race day experienced the most significant increase, a bump of almost 9% to $331,188 from 2022's $303,894. Average field size also rose from 7.33 starters in 2022 to 7.47...

MonmouthBets, the first legal and regulated mobile application for fixed odds betting on horse racing in the United States, has launched announced BetMakers Technology Group Friday. Approved by the New Jersey Division of Gaming Enforcement, the MonmouthBets app is now available for New Jersey residents to accept wagers on mobile devices ahead of Monmouth Park's 78th season beginning Saturday, May 13. In addition to being able to place bets on Monmouth Park races, New Jersey horseplayers can now place fixed odds wagers on races from Tampa Bay Downs, Canterbury Park,...

by Richard Resnik I am writing in response to one of the comments on Dan Liebman's Letter to the Editor on computer assisted wagering. I am certain the CAW issue is drowning you and there are more important voices than mine to be heard. I will take this opportunity to share a few pieces of relevant information that form the basis for my ire on this issue. First, I am 77, a retired litigator and at a point in my life where betting is part of horse racing as a...

Last month, a lengthy Financial Times feature detailed the growing share of overall handle generated through Computer Assisted Wagering (CAW)--both in California and nationwide. CAW players are a small group of high-volume and largely anonymous gamblers with an outsized impact on the betting markets due in no small part to the sophisticated wagering tools at their disposal. Because of their high stakes play, they're offered inducements in the form of rebates and reduced takeout rates largely not available to the average punter. CAW proponents argue that these deep-pocketed players provide...

After wagering dropped by a troubling 6.22% through the first two months of the year, the sport rebounded in March. According to figures released Thursday by Equibase, handle was up 2.14% during the month when compared to 2022. A total of $962,703,949 was wagered in March. In the category of average wagering per race day, there was an increase of 1.10%. Handle is still down by 3.40% for the year. The advances reversed a trend that began in October of last year. Handle fell by 4.93% in October and continued...

On Monday Equibase released its January figures for the Thoroughbred industry's economic indicators, which showed increases in purses and number of races but downturns in total daily wagering, average wagering per race day on U.S. races, and field size. Overall, total purses of $90,069,945  in the first month of 2023 increased by 9.7% over the figure of $82,102,162 reported a year ago. However, January's $874,180,855 in worldwide commingled wagering on U.S. races showed a 7.19% drop in total wagering, and the average wagering per race day number of $3,298,796 represented...

Despite previously announcing that interstate simulcast wagering would resume Friday, Feb. 3, Sam Houston released a statement Friday morning postponing it. "We have determined that more time is needed to fully evaluate the many legal complexities surrounding recent court decisions and the HISA amendment enacted by Congress at the end of last year," the statement read. "While we are eager to export our signal across the country, our commitment to maintaining federal and state compliance remains our top priority. We will export our signal across state lines when we are...

The main takeaway from last year's California purse and handle numbers is one of stasis, with no significant movement in any one direction compared to 2021. A roughly 2.5% increase in the number of California races run in 2022 over 2021 is framed against a half-percentage point decrease in purses and an even smaller fraction of a percentage decrease in all-source handle. "It was like holding serve in 2022," said Bill Nader, newly minted president and chief executive officer of the Thoroughbred Owners of California (TOC), which once again put...

The New York Racing Association, Inc. (NYRA) generated all-sources handle of $2,321,863,828 during its 2022 race meets conducted at Aqueduct Racetrack, Belmont Park and Saratoga Race Course. The year was highlighted by the summer meet at Saratoga Race Course where all-sources wagering rose to a record $878,211,963 in 2022, eclipsing the previous high-water mark by nearly 8%. In addition, the 2022 summer meet generated average daily handle of $21,955,299, which is the highest such figure in the history of Saratoga. On-track handle in 2022, which includes New York residents wagering...

Purses rose significantly in September this year compared to September 21 while wagering on U.S. races saw a slight uptick, with a similar split showing for the third quarter of 2022 vs. 2021, according to the economic indicator statistics released by Equibase Wednesday. Wagering totaled $936,206,774 in September, a 2.68% increase from the total of $911,734,704 in September 2021. This year's number, however, was a 9.98% drop-off from the $1,040,000,472 wagered in September 2020. Wagering per race day was $2,317,344, a 7% increase from last September, but an 18.67% drop...

Assiniboia Downs recorded near-record wagering for the 2022 meet, which ended Sept. 28. with the second-highest wagering handle in the track's history. A total of $55,326,730 was wagered over the 50-day meet, which was second only to the amount recorded in 2020. "To conclude this season with the positive results we achieved is a true testament to the team we have out here working for us, and the will and determination of the horse people involved at all levels," said CEO Darren Dunn. "It seemed challenge followed us throughout 2022....

After failing to properly calculate Kentucky's newly implemented penny breakage at two Standardbred race meets in July, the totalizator services provider United Tote Company has been fined and ordered to "seed" a future exotic wagering pool with $4,445.77, which equals the amount that the Kentucky Horse Racing Commission (KHRC) determined should have been paid out to bettors had the calculations been correct. According to an administrative ruling dated Sept. 12 and signed by Waqas Ahmed, the KHRC's director of pari-mutuel wagering and compliance, United Tote "provided improper totalizator services" on...