US horse racing faces mixed fortunes in early 2022 results
US horse racing saw mixed financial results in the first half of 2022. While prize money rose in some areas, betting figures dropped compared to the same period last year. The latest industry data highlights both growth and decline across different sectors. Harness racing purses climbed in the second quarter of 2022, reaching $116.5 million. This marked a $17.1 million increase from the same period in 2021. For the first six months of the year, total harness racing purses hit $588.6 million—a 14.3% rise over 2021.
Despite the growth in prize money, betting on harness racing fell. The handle for the second quarter dropped to $415.4 million, down $70.1 million from 2021. The Belmont Stakes card also saw a decline, with its all-sources handle shrinking by nearly $14 million compared to last year. Thoroughbred racing experienced a similar trend in wagering. The total amount bet on US races in the first half of 2022 was $6.27 billion. This figure was $12.2 million lower than the same period in 2021. Race organisers scheduled more events in 2022. The first half of the year featured 1,929 race dates and 15,870 races—both higher than in 2021. However, the average field size per race dropped to 7.25 horses, a decrease of nearly 2.5% from the previous year.
The first half of 2022 brought contrasting results for US horse racing. Prize money for harness racing grew significantly, but betting figures fell across multiple events. With more races held but smaller field sizes, the industry faces a shifting landscape as it moves into the second half of the year.
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