Racetracks NAICS 711212

Nov 18, 2025 - US Racetrack Handle Falls 6% in September

• US racetracks faced a notable downturn in September 2025, as wagering handle fell 5.9% year-over-year to $737.3 million, driven by a 7% decline in the number of races (2,786 vs. 2,996), according to Equibase data reported in Daily Racing Form (DRF). While average betting per race rose slightly to $264,643 (+1.2%), fewer weekend dates and shrinking field sizes (7.19 horses per race, down 0.8%) limited overall activity. Purses also contracted, dropping 5.9% to $123.3 million, though average purses ticked up 2.4% to $44,275. DRF reported that wagering during one of the sport’s marquee weekends fell 2.9% to $154.1 million, with fewer races contributing to the decline. For racetracks, the figures underscore structural challenges: reduced race schedules and smaller fields are eroding total handle and purse funding, even as per-race betting shows resilience.
• US consumer sentiment weakened in October and November 2025, raising red flags for industries dependent on discretionary spending, including racetracks. The University of Michigan’s Index of Consumer Sentiment dropped 6.2% month-over-month to 50.3, nearly 30% lower than a year earlier. The Expectations Index fell even more steeply, down 36.3% annually to 49, while inflation expectations climbed to 4.7% for the year ahead. The Conference Board’s Consumer Confidence Index also slipped to 94.6, as stronger current conditions (Present Situation Index at 129.3) were offset by weaker short-term outlooks (Expectations Index at 71.5). With more than half of consumers anticipating higher interest rates, racetracks face potential declines in wagering, attendance, and hospitality spending.

• The racing-related equine fatality rate was 1.2 fatalities per 1,000 starts in Q2 2025, up from 0.76 fatalities per 1,000 starts from the same period a year ago, according to the Horseracing Integrity and Safety Authority’s (HISA) most recent metrics report. For the first half of 2025, the nationwide racing-related fatality rate was 1.06 per 1,000 starts. The uptick may be related to risk factors in affected horses such as long layoffs before returning to racing, as well as a rise in fatalities related to the fetlock joint and atrial fibrillation. On a positive note, the fatality rate in Q2 2025 is a 16% decrease from the 1.8 fatalities per 1,000 stats recorded in Q2 2023, which was the first year of data collection. Nine racetracks posted progress in their year-over-year racing fatality rate in Q2 2025, with four tracks recording a 100% decline year over year.
• Immigration raids are impacting the racetrack industry, following a June 2025 raid with 80 arrests at Delta Downs in Louisiana, according to the Associated Press. The US Immigration and Customs Enforcement (ICE) conducted the raid at Delta Downs Racetrack, Hotel, and Casino in Calcasieu Parish, after receiving a tip about unauthorized workers. Some in the racing industry spoke out following the raid, saying that the raid left the racetrack without essential workers such as groomers and stable workers who provide horses with skilled care around the clock. Peter Ecabert, general counsel for the National Horsemen’s Benevolent and Protective Association representing 29,000 thoroughbred racehorse owners and trainers, said the racetrack would have been willing to work with ICE to make sure things were done in an orderly way. “To come in and take that many workers away and leave the horse racing operation stranded and without workers is unacceptable,” he said.