In July 2025, the U.S. faced significant disruptions in thoroughbred horse racing due to extreme weather conditions, including heat, humidity, and severe storms. These factors led to the cancellation of 16 race days, notably seven full race cards at Strawun, Ohio, because of unsafe track conditions. This is a sharp increase compared to July 2024, which saw only eight full race program cancellations.
As a result, the total number of race days in July dropped by 3.39%, and thoroughbred races decreased by 4.57%. Additionally, the average number of horses per race fell to 6.98, down 1.87% from 7.12 the previous year. These combined effects contributed to a 1.22% decline in wagering handle, totaling $11.7 million less than July 2024 figures, according to data from Equibase LLC, the official U.S. Thoroughbred Racing database.
Despite fewer race days and races, the average bet per race day rose by 2.25%. However, the average wallet size used for betting on race days decreased. The timing of July holidays, including the 4th of July racing festival shift to Saratoga, brought a year-over-year profit increase of $45 million in 2025.
Looking at longer-term trends, the number of race days and races continue to decline each year, although average wager sizes and wallets per race day have grown. The average field size has slightly increased by 0.89% per race since around 2018. If trends hold, 2025 will mark the fifth consecutive year of reduced stakes in U.S. thoroughbred racing. After reaching record highs in 2024, betting wallets have dropped in the first seven months of 2025.
This report was originally published by the Paulick Report on August 5, 2025.
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Fan Take: This downturn in stakes and cancellations due to weather highlights the vulnerability of horse racing to external factors, signaling a need for better venue preparedness and contingency planning. For fans, it underscores the importance of supporting the sport during challenging times to help maintain its momentum and ensure a vibrant future.
