Horse racing track market value in the U.S. 2022 | Statista (2024)

FAQs

Horse racing track market value in the U.S. 2022 | Statista? ›

U.S. horse racing track market size 2012-2022

The market size, measured by revenue, of the Horse Racing Tracks industry was $4.9bn in 2023. What was the growth rate of the Horse Racing Tracks industry in the US in 2023? The market size of the Horse Racing Tracks industry declined -1.9% in 2023.

Horse Racing Market size is valued at USD 396.21 Billion in the year 2022 and it is expected to reach USD 812.48 Billion in 2030, at a CAGR of 8.93% from 2024 to 2030.

We offer our customers the opportunity to bet online on all different types of horse racing, including throroughbred, harness, and quarter horse, with a total of more than 300 racetracks. California: Santa Anita Park. Golden Gate Fields.

Horse racing itself is a big part of this. Horses raced for purses of more than $1.3 billion in the United States in 2023, with average purses per day about $337,000. More than $11.6 billion was bet on races in the same year.

The market size of the Horse Racing Tracks industry in the US is measured at $4.9bn in 2023.

“The greatest two minutes in sports” is the only two minutes of horse-racing many Americans watch. The industry's popularity has been waning for decades. Attendance at racetracks is abysmal. New York's Aqueduct, which opened in 1894, will soon close, like dozens of tracks since 2000.

One could be forgiven for assuming the spectacle means that horse racing in America is thriving. It is not. The sport has been in decline for decades. Aside from big events like the Derby, attendance at racetracks is abysmal.

Kentucky has a lot of farms that raise racehorses. The state is also home to one of the most famous horse races—the Kentucky Derby. The racetrack is located in Louisville, Kentucky's largest city. The race, which takes place each year on the first Saturday in May, is filled with fun events and traditions.

Which city is considered the Horse Capital of the World? Surrounded by over 400 horse farms, Lexington is the Horse Capital of the World because... Lexington, Kentucky, had the honor of being the first city outside of Europe to ever host the World Equestrian Games.

What is the most popular race track in the US? ›

Indianapolis Motor Speedway

You can gladly call it the “Racing Capital of the World” for holding such prestigious events.

The oldest racetrack in the United States is Freehold Raceway in New Jersey. It opened in the 1830s but races harness horses (standard breds) not Thoroughbreds.

Known for being the biggest race track in the world with a capacity of 90,000, Belmont Park was a shoo-in for a place on this list of the largest and greatest race tracks in the United States. The track spans 1.5 miles and hosts the Belmont Stakes, the final installment in the Triple Crown.

For those who don't, let me outline some of the basics. Race tracks make money when people bet on horses, naturally, and they offer purses to attract trainers and owners to run their horses there, since tracks do not own any horses of their own.

1. Saudi Cup: $20 million. The richest race in the world is an upstart that's only been in existence since 2020.

The horse industry contributes a total of 101.5 billion dollars to the US economy, with 10.6 billion from racing, 10.8 billion from showing, 11.8 billion from recreation, and 11.8 billion from other sources.

Horse Racing Market Size And Forecast

Horse Racing Market size was valued at USD 402,898.79 Million in 2023 and is projected to reach USD 711,929.08 Million by 2030, growing at a CAGR of 8.89% from 2024 to 2030.