According to data released by Equibase, the official database for the horse racing industry, betting on thoroughbred races in the U.S. dropped by 2.38% in the second quarter of 2025 compared to the same period in 2024. Specifically, betting in June saw a significant decline of 7.18% compared to June of the previous year. Total bets for the second quarter of 2025 amounted to $3,281,212,052, down from $3,361,331,232 in 2024.
The number of races during the second quarter decreased by 4.83%, with June races dropping by 7.58%, totaling fewer than 400 races this quarter. Last year’s second quarter had 8,410 fewer races, a 4.83% reduction. Available betting pools (wallets) also declined by 3.59%, falling from $341,339,676 in the 2024 second quarter to $329,074,340 in 2025.
For June 2025, the number of races fell by 7.58% compared to June 2024, with the amount of available betting pools decreasing by 5.87%, dropping from $121,722,557 to $114,576,801. Race days in the second quarter fell by 3.76% to 997, down from 1,036 the previous year, while June race days fell 6.86% to 380, compared to 408 in June 2024.
Overall, betting declined 2.77% year-over-year, reaching $5,786,483,810.
Fan Take: This decline in betting and race activity is a key indicator that horse racing fans and bettors are becoming less engaged, which could impact the sport’s financial health and future growth. It’s critical for the industry to address these trends and find ways to reinvigorate interest to sustain the sport’s long-term viability.
