NEWS
Total wagering handle drops 16.9% in June
Posted: Sunday, July 05, 2009 2:48 PM
by Mike Curry
Total United States wagering handle and purses declined by double digits in June as the negative impact of the global economic crisis on the horse racing industry increased significantly.
With purses down 10.3% from $112,735,233 in June 2008 to $101,126,923 and the number of live racing dates declining by 5.6% to 620, total wagering handle declined by 16.9% in June, according to economic indicators released Sunday by Equibase Co.
Total handle plummeted from $1,195,562,620 in June 2008 to $993,578,873 in June ‘09.
Total handle was down 10.1% in April and 8.3% in May, but bettors went to the windows even less frequently in June as horsemen faced fewer dates and diminishing purses.
Through six months ended June 30, total handle is down 10.5% to $6,503,994,769, compared with $7,265,400, 239 through the first six months of 2008. U.S. purses are down 6% to $507,165,548 and live racing dates declined 2.1% to 2,814, compared with the first six months of 2008.
In 2008, total handle declined by more than $1-billion. Through the first six months of 2009 total handle is down $761,405,470.
Mike Curry is a Thoroughbred Times TODAY editor
