Racetracks

The 489 racetracks in the US operate facilities for horse, dog, motorcycle, and automotive racing. Racetracks are either indoor or outdoor facilities that host scheduled races. For animal racing, track facilities draw in guests with gambling activities through pari-mutuel and off-track betting on race results. Racetracks promote races at a national or local level, depending on the size of the event. About 80% of the industry is comprised of small racetracks with less than 20 employees.

Heavy Regulation

The racetrack industry earns the majority of its revenue from gambling activities, resulting in significant legal and taxation requirements.

Transaction and Data Security

In an industry with massive amounts of digital money flowing back and forth between gamblers and racetracks, along with significant volumes of personal data collected from customers, horse racing is a particularly attractive target for online thieves, hackers, and other bad actors.

Sep 11, 2026 - HISA Reports 18.5% Drop in Racing Fatalities

• US Thoroughbred racetracks posted improved safety results in the second quarter, with racing-related equine fatalities falling 18.5% year over year to 1.01 per 1,000 starts, according to HISA. The decline could help reduce reputational risk and strengthen public confidence in the sport. Training-related deaths also improved about 16% to 0.43 per 1,000 workouts. For racetracks, HISA’s new breakdowns by surface, track condition, and race type could help operators identify higher-risk conditions and target safety investments, although small fatality counts make early comparisons volatile. Synthetic surfaces posted the lowest reported fatality rate at 0.40 per 1,000 starts, while sloppy dirt and turf were higher. Continued gains could reinforce the importance of track maintenance, veterinary oversight and injury prevention.
• Falling consumer confidence could pressure US racetracks as households trim discretionary spending on wagering, admissions, and event-day purchases. The University of Michigan Index of Consumer Sentiment fell 7.5% in September to 47.8 and was 13.2% below a year earlier. Its Current Economic Conditions Index declined 1.9% to 50.9, while the Consumer Expectations Index dropped 11.1% to 45.8, signaling greater caution about future spending. Separately, The Conference Board Consumer Confidence Index edged down in August to 89.4 from 90.2. Its Present Situation Index improved to 121.2, but the Expectations Index fell to 68.2. For racetracks, weaker confidence could pressure attendance and per-visitor spending, increasing reliance on promotions, major race days, and ancillary entertainment.
• The US Trotting Association reported stronger second-quarter results for harness racing, providing a positive signal for US racetracks despite weakness in thoroughbred racing. Total wagering increased 2.4% year over year to $389.5 million during the April-June period, while average wagering per race rose 1.6% and wagering per betting interest increased 2.2%. Purses climbed 1.9% to $123.8 million, and race days increased 2.1%, reflecting steady participation and track activity. Individual racetracks including Oak Grove Racing and The Meadows posted notable handle gains driven by promotional events and strong racing calendars. In contrast, thoroughbred wagering fell 4.7% in June and was down 4.5% year to date, highlighting the relative resilience of the harness racing segment. The results suggest well-promoted harness racetracks are attracting bettors and generating incremental revenue despite broader challenges facing the horse racing industry.
• Advances in data technology and imaging could improve safety and performance in the US racetrack industry, according to experts at a recent panel reported by the American Veterinary Medical Association. At the 2025 American Association of Equine Practitioners (AAEP) conference, attended by more than 4,800 participants, experts discussed how wearable sensors and advanced imaging could help detect injuries earlier in racehorses. A JAVMA study analyzing stride data from 11,834 Thoroughbreds across 28,481 races (July 2021–May 2024) found that horses with the highest risk score were 44.6 times more likely to suffer a fatal musculoskeletal injury than those with the lowest score. Researchers also noted that 118 horses, just 0.4% of starts, accounted for 4.2% of fatal injuries, highlighting the potential to identify high-risk horses earlier. For racetracks, wider use of sensors, AI, and imaging technologies could improve equine safety oversight and support data-driven decisions by trainers, veterinarians, and regulators.

Industry size & Structure

The average firm operates from a single location, employs 65 workers, and generates $16.8 million annually.

• The racetrack industry consists of about 489 companies that employ 31,800 workers and generate $8.2 billion in annual revenue.
• The industry is concentrated with the 20 largest firms representing over 80% of industry revenue. The 25 largest companies employ 64% of the industry's total workforce.
• Large companies include Churchill Downs, The Stronach Group, New York Racing Association, National Association of Stock Car Racing, and Del Mar Thoroughbred Club.
• Gamblers bet a total of about $11 billion on horse racing each year.