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According to the annual Thoroughbred Economic Indicators report released Monday by Equibase, the total figures for two of the sport's most important categories declined in 2025.

Thanks in part to handle being down 7.32% in December, handle for the year was down 2.10% when compared to 2024 figures. A total of $11,028,652,933 was wagered in the U.S. as compared to $11,265,666,064 in 2024. Handle peaked in 2003 at $15.18 billion. When factoring in inflation, betting handle has fallen about 57% over the last 22 years.

The year 2025 marked the sixth time in the last seven years that handle has fallen. The outlier was 2021, when handle figures rose by 11.8%. This was expected because the 2021 numbers were being compared to 2020 figures, a year in which COVID caused the sport to lose a multitude of racing dates.

“There are two ways of looking at it, one of which is certainly worrisome,” said Marshall Gramm, an economics professor at Rhodes College and a professional horseplayer. “The increased competition with other gambling ventures is hurting the sport. The fact that many tracks have not resolved the issues with the odds fluctuations and the computer wagering is another factor. The way we price our sport for the recreational player in a way that is not comparable to other gambling options is, I believe, another reason this is happening. We don't know any more than what they reported in those raw numbers, but, anecdotally, I would guess we are losing more from recreational players and the real meat-and-potatoes horseplayers. They are disappearing from our game, and that is a problem.”

Gramm continued: “The flip side is that purses are more and more funded by alternative gambling. The industry seems to be content to spend more lobbying politicians than focusing on their core customers. Maybe if they can finance a sport without needing horseplayers, they will continue to go on and do so.”

The figure for “Wagering on U.S. Races” includes worldwide commingled wagering on U.S. races.

In the category of “Average Wagering Per Race Day,” there was some positive news, as the figure rose by 3.27%, from $2,974,826 to $3,072,048. But fewer races were run during the year–29,401 versus 30,852 in 2024.

Perhaps the more surprising news revealed by Equibase Monday was the decline in the total amount of purse money paid out in the U.S. in 2025. Thanks in large part to an influx of casino, slot machine and HHR money that has poured into the sport in places like Kentucky and Arkansas in recent years, purses have been holding relatively steady. But the amount of purse money paid out in 2025 was $1,220,644,640, which represents a 2.53% decline from the prior year. In 2024, purses paid out rose by 0.5% and reached an all-time high for the industry.

Though the increase was a very small one, the fact that average field size increased was another piece of good news. The average field size in 2025 was 7.47 starters per race, up 0.37% from 2024.

The post Handle, Purses Both Fall In 2025 appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.

Bidding opened Jan. 5 for the “Express Kid Flash Sale,” a one-horse online auction of recent Springboard Mile Stakes winner Express Kid on Fasig-Tipton Digital. Bidding will close Jan. 9 at 4 p.m. ET.

The Thoroughbred Education and Research Foundation to award $7,100 to the National Museum of Racing and Hall of Fame to be used for enhancing education.

Irad Ortiz Jr. may be just 33 but, as he finished atop the North American wins and earnings leaderboard yet again in 2025, he is already solidifying his legacy as one of the all-time great riders.

More than a decade after Robert Marzilli purchased eventual Canadian champion Caren from the Everatts of Shannondoe Farm, the team bred their first stakes winner together when Fire and Wine won the Coronation Futurity at Woodbine Nov. 29.

Trainer Dick Cappellucci saddled his 1,000th career winner Jan. 4 when One Time Mark won the fifth race at Sam Houston Race Park.

Trainer Chad Brown is targeting the Risen Star Stakes (G2) at Fair Grounds Race Course & Slots Feb. 14 with Remsen Stakes (G2) winner Paladin.

PARADISE (f, 3, Gun Runner–Venetian Harbor {MGSW & MGISP, $699,400}, by Munnings) was unveiled Nov. 13 beneath the Twin Spires and since that maiden special, several runners have emerged from that race to either win or hit the board again–most notably She's So Coal (Coal Front), who graduated by 12 lengths against state-breds at Oaklawn Park.

Made the 4-5 favorite here when making a seasonal bow with first-time Lasix, the chestnut stepped out to set the pace from along the rail going up the backstretch through an opening quarter in :25 flat. Comfortably clear of Betty's Pearl (Munnings) after four furlongs in :48.26 and six panels in 1:13.47, Paradise maintained her advantage over that runner down to the wire.

The victress is the first to the races for multiple Grade I-placed Venetian Harbor, whose now juvenile colt by Curlin sold in last year's Keeneland September sale for $1.05-million to AMO Racing. The mare's last registered offspring is a yearling colt by Into Mischief and she's due to Nyquist for 2026.

7th-Gulfstream, $70,660, Msw, 1-4, 3yo, f, 1m, 1:39.78, ft, 3 lengths.
PARADISE (f, 3, Gun Runner–Venetian Harbor {MGSW & MGISP, $699,400}, by Munnings) Sales history: $700,000 Ylg '24 FTSAUG. Lifetime Record: 2-1-1-0, $64,800. Click for the Equibase.com chart or VIDEO, sponsored by FanDuel TV.
O-NK Racing and LNJ Foxwoods; B-Ciaglia Racing, LLC, HNDEH & Domenic Savides (KY); T-Brad H. Cox.

 

#6 PARADISE ($3.80), a three-year-old filly by Gun Runner (@Three_Chimneys) out of multiple GSW Venetian Harbor, broke her maiden in gate-to-wire fashion in R7 at @GulfstreamPark. @zayas_edgardo was up for trainer @bradcoxracing and owners NK Racing & @LNJFoxwoods. pic.twitter.com/sjmmryNpqA

— FanDuel Racing (@FanDuel_Racing) January 4, 2026

The post Gun Runner’s Paradise Gets It Done at Second Asking in Florida appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.

The National Thoroughbred Racing Association, Daily Racing Form, and the National Turf Writers and Broadcasters announced Jan. 4 the finalists for the 2025 Eclipse Awards, recognizing excellence through the past year in Thoroughbred racing.

Santa Anita Park has canceled live racing Jan. 4 as the final round of strong storms pushes out of Southern California.

Strategic Risk launched a sustained rally into the far turn that would see him seize the lead near the quarter pole, draw clear in early stretch, and cruise to a 4 1/2-length score in the $250,000 Smarty Jones Stakes Jan. 3 at Oaklawn Park.

The new board members for the Consignors and Commercial Breeders Association were installed at its most recent meeting. 

Florida Derby (G1) winner Tappan Street, who successfully returned from an eight-month layoff to win Dec. 19 at Gulfstream Park, worked for the first time since that victory Jan. 3 in preparation for the Pegasus World Cup Invitational (G1) Jan. 24.

The outcome of the Jan. 3 Mucho Macho Man Stakes at Gulfstream Park suggests the following: Thou shall not underestimate Commandment on the Kentucky Derby (G1) trail.

Next (Not This Time), who made his mark dominating dirt races at a mile-and-a-half or longer, has not been seen or heard from since finishing fourteenth and last in the 2024 GI Longines Breeders' Cup Classic. He's now 8-years-old and hasn't run in nearly 14 months, but trainer Doug Cowans told the TDN that the gelding will be given every chance to launch a comeback in 2026.

“This is a simple update,” Cowans said. “He's in training at Turfway Park. He's probably due to breeze here soon. I expect his first work back will be toward the end of January or early February. He's up to galloping a mile-and-a-half and he's doing well.”

Cowans admitted that he was taking a chance when running Next in the Breeders' Cup Classic because the mile-and-a-quarter distance was likely too short for him. It didn't end well, as he lost by 34 3/4 lengths. Cowans could not come up with any excuses for the race.

“He came back just fine out of that race,” he said. “We kicked him out for about 45 days, and then when he came back to training in February and he had a few little setbacks. By the time we got all that worked out, there were no real races for him. So, we turned him back out and started jogging him last November. We started galloping him in December, and he's really close to having his first breeze.”

Cowans said that he has not decided yet when or where Next will debut this year, but said he will go back to the plan that had always worked out so well for him. All of his potential 2026 starts will come at a mile-and-a-half and will be on the dirt, he said. Next has run seven times on the turf and has won three times over that surface.

“I'm not going to run him anymore in any races other than at a mile-and-a-half on the dirt,” he said. “There were just no spots for him to run in those races in the late fall.”

Willam D. Cowans | Bill Denver/EQUI-PHOTO

Cowans acknowledged that bringing a horse back at age 8 and asking him to run in graded stakes races may be a tall task. He said he will not take any unnecessary chances.

“This will be his last year,” he said. “The plan is only to run in mile-and-a-half races. We'll know more when he starts breezing and is ready. If he shows us that he is not the same horse he will be retired.”

Way back in 2020, Next began his career, ironically enough, in a 4 1/2-furlong race at Woodbine. In 2022, he was claimed by Cowans on behalf of owner Michael Foster for $62,500. Once Cowans turned Next into a marathon specialist, his career took off. He is a two-time winner of the GII Brooklyn Stakes and he captured the GIII Greenwood Cup twice. His other graded stakes win came in the 2022 GII Thoroughbred Aftercare Alliance Stakes. His career earnings stand at $1,336,361.

“I'm super excited about this horse,” the trainer said. “He's a barn favorite and a fan favorite. Anytime he was out there training on a big day, the media was always around shooting pictures of him and taking videos. He's fun to have around. He doesn't owe anybody anything, so if he makes it, he makes it, and if he doesn't, he doesn't.”

The post Marathon Specialist Next Gearing Up For 2026 Campaign appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.

Jockey Keith Asmussen began getting on horses late last month at Oaklawn in advance of his comeback, which could come during Oaklawn's Classic racing season (Jan. 30-May 2) or at Sam Houston Race Park, a press release from the Hot Springs track said on Sunday.

Asmussen, Oaklawn's second-leading jockey in 2023-2024, has not ridden since fracturing the right side of his pelvis in a Nov. 8 spill at Churchill Downs. Asmussen said there was no displacement of the bone and no surgery was required.

“It stinks any time you get hurt, but considering the timing of the break at Oaklawn it hasn't really put a rush on things,” Asmussen said Sunday morning. “On my six-week mark, I got released to ride and I started getting on horses here. It's been smooth for the most part. I'm excited to get on horses and be around the races.”

The young jockey, who was involved in a serious spill during the summer of 2024, frequently rides for his father Hall of Fame trainer Steve Asmussen.

The post Asmussen To Return To The Saddle After Injury appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.

Track stars such as Ted Noffey (Into Mischief), Sovereignty (Into Mischief) and Forever Young (Jpn) (Real Steel {Jpn}) are among the finalists for the 2025 Resolute Racing Eclipse Awards, recognizing excellence through the past year in Thoroughbred racing, the National Thoroughbred Racing Association (NTRA) said via a Sunday press release.

Winners in 17 horse and human categories will be announced on FanDuel TV, and other outlets, during the 55th Annual Resolute Racing Eclipse Awards, presented by John Deere, The Jockey Club and the NTRA, on Thursday, Jan. 22 at 7:30 p.m. ET. The evening will culminate with the announcement of the 2025 Horse of the Year.

Of the 240 eligible voters represented by the NTRA, consisting of racetrack racing officials and Equibase field personnel, the National Turf Writers & Broadcasters and Daily Racing Form, 221 (92%) took part in the voting. Finalists were determined in each category by voters' top three selections, using a 10-5-1 point basis. Eclipse Award winners are determined solely by first-place votes.

The 2025 Eclipse Awards Finalists, with the exception of Horse of the Year, (in alphabetical order) are:

2-Year-Old Male: Brant (Gun Runner), Gstaad (GB) (Starspangledbanner {Aus}), Ted Noffey;

2-Year-Old Filly: Cy Fair (Not This Time), Explora (Blame), Super Corredora (Gun Runner);

3-Year-Old Male: Baeza (McKinzie), Journalism (Curlin), Sovereignty;

3-Year-Old Filly: Good Cheer (Medaglia d'Oro), Nitrogen (Medaglia d'Oro), Shisospicy (Mitole);

Older Dirt Male: Forever Young, Nysos (Nyquist), Sierra Leone (Gun Runner);

Older Dirt Female: Scylla (Tapit), Splendora (Audible), Thorpedo Anna (Fast Anna);

Male Sprinter: Bentornato (Valiant Minister), Book'em Danno (Bucchero), Nysos;

Female Sprinter: Kopion (Omaha Beach), Shisospicy, Splendora;

Male Turf Horse: Deterministic (Liam's Map), Notable Speech (GB) (Dubawi {Ire}), Rebel's Romance (Ire) (Dubawi {Ire});

Female Turf Horse: Gezora (Fr) (Almanzor {Fr}), She Feels Pretty (Karakontie {Jpn}), Shisospicy;

Steeplechase Horse: Cool Jet (Ire) (Jet Away {GB}), Swore (Broken Vow), Zanahiyr (Ire) (Nathaniel {Ire});

Owner: Godolphin LLC, Klaravich Stables, Inc., Spendthrift Farm LLC;

Breeder: Don Alberto Corporation, Godolphin LLC, WinStar Farm, LLC;

Trainer: Chad Brown, Brad Cox, Bill Mott;

Jockey: Irad Oritz Jr., Flavien Prat, John Velazquez;

Apprentice Jockey: Christopher Elliott, Yedsit Hazlewood, Pietro Moran.

Finalists for Horse of the Year will be revealed during the live show Jan. 22. In addition to honoring the 17 winners in the horse and human categories, Dan Piazza will receive the Eclipse Award as the 2025 Horseplayer of the Year. Members of the media will be honored for outstanding coverage in six categories.

Click here for more information concerning Eclipse-related events.

The post Ted Noffey, Sovereignty, Forever Young Among 2025 Eclipse Finalists appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.

Santa Anita Park has canceled live racing on Sunday, Jan. 4 as the final round of strong storms pushes out of the Southern California area, the track said in a press release on Sunday morning.

The storm has dropped more than 10 inches of rain on the Arcadia, California, track since an atmospheric river began pummeling the West Coast Dec. 23.

“The weather is set to improve significantly by Monday, and we don't have any rain in sight for the next 10 days or so,” said Santa Anita Park's General Manager Nate Newby. “We are grateful for the support of our stakeholders these last two weeks. It hasn't been easy, but the safety of the horses will always come first. We're looking forward to building on the strong momentum from our first few days and getting back to business.”

Racing returns to Santa Anita Park on Thursday, which is the first of two announced makeup days due to the rain cancelations. First post time on Thursday will be 12 noon and will feature two turf stakes races. The track has also added Thursday, Jan. 15 to the racing schedule.

Both the Santa Ynez Stakes for 3-year-old fillies and GIII Las Flores Stakes for older fillies and mares will be run next weekend at Santa Anita after being postponed because of rain.

The seven-furlong Santa Ynez will be run on Saturday, Jan. 10 with the seven-furlong Las Flores going a day later.

In addition to the rescheduled Santa Ynez, Saturday's card will also feature the Grade II San Vicente Stakes for 3-year-olds going seven furlongs. The San Vicente begins the road to the GI Santa Anita Derby. Entries for the Santa Ynez, San Vicente and the rest of Saturday's card will be drawn on Monday.

Joining the Las Flores on next Sunday's card will be the GIII Las Cienegas Stakes for older fillies and mares at about 6 1/2 furlongs on the hillside turf course. That card will be set on Tuesday.

The post Go Away! Sunday Santa Anita Card Canceled As Rain Set To Move Out appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.

Grade I winner Tappan Street (Into Mischief) worked Saturday morning at Gulfstream Park in his continued preparation for the Pegasus World Cup Invitational.

Working four furlongs alone at Payson Park, the Brad Cox trainee was clocked in :49.60 (15/48) in his first move since his successful return to the races Dec. 19 against allowance optional claiming company at Gulfstream Park.

“It was a really good move, by himself, :49.2 and 1:02.2,” said Cox. “I thought the track was much deeper after the break up there [at Payson Park].”

Disco Time (Not This Time), the unbeaten winner of the GIII Lecomte Stakes, worked five furlongs the day prior Jan. 2 in 1:01 flat, the fastest of five others at that distance.

“Disco Time went [Friday], lights out,” Cox said. “He's really on it. Super pleased with how he's breezed the last few weeks and how he physically looks.”

Both runners are currently being pointed toward the Pegasus World Cup Invitational Saturday, Jan. 24.

The post Tappan Street, Disco Time Work for Pegasus at Payson Park appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.

In the kickoff of stakes action Jan. 3 at Gulfstream Park, Sister Troienne easily dispatched five other 3-year-old fillies to post a comfortable victory in the $157,500 Ginger Brew Stakes.