Decline in Prizemoney for COVID-Hit US in 2020

Horse racing in the USA lost a quarter of its race days due to the COVID-19 pandemic, and this saw a similar loss in prizemoney for owners, reports bloodhorse.com. However, despite the 25% decline in race days, total wagering on USA racing during 2020 fell less than 1% on 2019's figures according to a Thoroughbred Racing Economic Indicators reported released on 5 January by Equibase. On a comparison rate, the average race in 2019 offered prizemoney of $32,257, while in 2020, the average prizemoney per race was $31,400 (down 2.7%). The total prizemoney fell by $869.8 million, reflecting the drop in number of races held. Total wagering on US races was down 0.98% on 2019, however the average wagering per race day increased nearly 33% on 2019 to $3,308,669. "The horse racing community is extremely resilient as borne out by the fact that despite the widespread and negative impacts of the coronavirus pandemic, pari-mutuel wagering on U.S. races held steady in 2020 at nearly $11 billion," said NTRA president and CEO Alex Waldrop. "We thank both our customers and all of our essential participants on the backside and beyond for keeping the sport going, and supporting the industry during what continues to be an unprecedented and challenging period, not only in the United States but around the world."