Hurt by a disastrous December in which handle fell more than 20 percent,
total handle on U.S. races declined 7.2 percent in 2008, falling from
$14,723,993,055 in 2007 to $13,670,196,938. Negative national economic trends
severely affected wagering, and conflicts between horsemen and advance deposit
wagering companies also resulted in lost handle.
“The fourth quarter was an extremely challenging one due in large part to the
worldwide economic slowdown and other internal factors,” said Alex Waldrop,
president and CEO of the NTRA. “While the overall year-end figures compare
favorably in some ways with those of many other sports and industries, it was
nevertheless a very difficult 2008 for virtually every segment of the racing
industry.
“There were bright spots, including many spectacular performances on the
racetrack and progress on equine safety and integrity front,” Waldrop added.
“The new year brings renewed hope, but also the sobering reality that any
economic recovery will likely be a slow process. As an industry, we must remain
focused on retaining and growing our fan base, and we must continue to
vigorously promote our game, which remains one of the great values in all of
sports.”
The 2008 U.S. handle totals were the lowest since 1998. December showed the
greatest decline, with a 20.3 percent drop from $1,029,358,904 in 2007 to
$820,358,357 in 2008.