US Thoroughbred Racing · 2003–2025

The Handle Has Never Recovered

Total amount wagered on US horse racing annually, in billions of dollars

$15.18B

Peak handle in 2003, the last time wagering reached that level

$11.03B

2025 handle — the fourth consecutive year of decline

57%

Inflation-adjusted decline in the real value of wagering since the 2003 peak

Source: Equibase, via BloodHorse and The Racing Biz (Jan. 2026). Inflation adjustment per Past the Wire macro analysis (Jan. 2026). Years 2004–2022 estimated from trend; confirmed data labeled.