As the horse racing industry and the rest of the country try to dig their way out of four years of a deep recession, any sign of good economic news is gladly welcomed. New information released this morning indicates that wagering, purses and race days made a sizable jump up when compared to similar time frames in 2011. Today, Equibase released Thoroughbred Racing Economic Indicator for February of 2012 and Year-To-Date. The numbers compare handle, purses and race days from February of 2012 with those same metrics in February of 2011. They also compare Year-To-Date data from 2012 to the same period in 2012.
Total handle on U.S. races increased 7.60% when compared to wagering in February of 2011, and purses jumped almost 14%. For the year, wagering is up 3.24% when compared to 2011, with an 8.26% increase in purses over roughly the same number of race days (+0.78%).
Below is the data released by Equibase:
|February 2012 vs. February 2011|
|Indicator||Feb. 2012||Feb. 2011||% Change|
|Wagering on US Races||$884,149,099||$821,676,865||7.60%|
|US Race Days||332||312||6.41%|
|Indicator||YTD 2012||YTD 2011||% Change|
|Wagering on US Races||$1,702,844,131||$1,649,465,107||3.24%|
|US Race Days||647||642||0.78%|