Wagering on American horse racing turnover falls off a cliff

Pari-mutuel wagering on American horse racing has recorded its sharpest monthly decline in more than a year, with turnover figures taking a notable hit in March.

Total handle dropped by 12.4 per cent compared to March 2025, falling to $816,171,590. The last time a steeper year-on-year decline was recorded was in December 2024, when wagering dipped by 14.4 per cent.

One contributing factor was the calendar, with March 2026 featuring only four Saturdays compared to five in the same month last year. Additionally, average betting turnover per race day was down by approximately 12 per cent.

Looking at the broader trend, total wagering for the year through the end of the first quarter has declined by 7.1 per cent, putting the industry on pace for its lowest annual turnover since 1994.

Field sizes also saw a contraction in March, dropping by 4.3 per cent, although prize money levels rose despite the downturn in wagering activity.