Move beyond the thundering hooves and the flash of silks, because the Thoroughbred industry is a powerful economic engine generating billions in revenue and supporting hundreds of thousands of jobs across the globe.
Key Takeaways
- In 2022, the U.S. Thoroughbred industry contributed $5.8 billion to the national GDP through direct, indirect, and induced effects
- The Thoroughbred racing sector generated $1.2 billion in taxes for federal, state, and local governments in 2022 across the U.S.
- In 2023, Thoroughbred racing supported 256,000 jobs nationwide in the U.S., with wages totaling $4.9 billion
- In 2023, the number of Thoroughbred races run in North America totaled 32,847, down 2% from 2022
- Average field size for U.S. Thoroughbred races in 2023 was 7.2 horses, the lowest since records began in 1990
- Handle per race day in U.S. Thoroughbred racing hit $4.8 million in 2023, up 6% from prior year
- North American Thoroughbred foal crop in 2023 was 15,237 registered foals, down 8.3% from 2022 peak
- Keeneland September Yearling Sale 2023 grossed $406.3 million for 2,728 Thoroughbreds sold, average $148,742
- Fasig-Tipton November Breeding Stock Sale 2023 sold 847 Thoroughbreds for $115.2 million, RNA 22%
- Thoroughbred industry employed 1.74 million people in the U.S. in 2022 across racing, breeding, and related sectors
- Kentucky Thoroughbred sector supported 58,500 direct jobs in 2023, with average wage $45,200 annually
- U.S. racetrack employment totaled 26,000 full-time equivalents in 2023, including backstretch workers
- U.S. Thoroughbred fatality rate in racing was 1.66 per 1,000 starts in 2022, per Jockey Club data
- In 2023, 92% of U.S. Thoroughbred racetracks implemented HISA safety protocols reducing injuries by 15%
- Average Thoroughbred racehorse career length was 22 starts over 3.2 years in 2023 U.S. data
The global Thoroughbred industry generates major economic benefits and supports hundreds of thousands of jobs.
Breeding and Sales
- North American Thoroughbred foal crop in 2023 was 15,237 registered foals, down 8.3% from 2022 peak
- Keeneland September Yearling Sale 2023 grossed $406.3 million for 2,728 Thoroughbreds sold, average $148,742
- Fasig-Tipton November Breeding Stock Sale 2023 sold 847 Thoroughbreds for $115.2 million, RNA 22%
- In 2023, 38% of North American Thoroughbred foals were by sires in their first or second crop
- OBS March Sale of 2-Year-Olds in Training 2023 topped $45.9 million for 1,185 Thoroughbreds, average $38,730
- European Thoroughbred yearling sales in 2023 totaled €1.1 billion, led by Arqana with €156 million
- U.S. Thoroughbred mare books in 2023 averaged 45 foalings per top 100 mares, up from 42 in 2022
- Tattersalls October Book 1 Yearling Sale 2023 grossed £144.5 million for 547 Thoroughbreds, average £264,073
- In 2023, 4,128 Thoroughbred weanlings sold at U.S. auctions for $234.6 million, average $56,823
- Japanese Thoroughbred mare fertility rate was 92.3% in 2023, producing 7,892 foals
- Gulfstream 2-Year-Old Sale 2023 sold 112 Thoroughbreds for $19.8 million, average $176,786
- Average Thoroughbred yearling price at U.S. sales rose to $105,400 in 2023 from $98,200 in 2022
- Irish Thoroughbred foal registrations hit 6,847 in 2023, down 4% YoY
- Fasig-Tipton Kentucky Spring Sale 2023 grossed $92.4 million for 1,104 yearlings, average $83,700
- In 2023, 22 stallions covered 200+ mares in North America, led by Into Mischief with 304
- Australian Thoroughbred yearling sales 2022-23 totaled AUD 413 million for 5,492 lots
- UK National Hunt Thoroughbred foal crop was 5,234 in 2023, stable from prior year
- Barretts Equine Ltd. Select Yearling Sale 2023 sold 142 Thoroughbreds for $4.6 million, avg $32,394
Breeding and Sales Interpretation
Though the foal crop shrinks and fertility rates fluctuate, the relentless machinery of the Thoroughbred industry roars on, funneling billions through sales rings where ever-fewer, ever-more expensive prospects are traded with gambler's hope.
Economic Impact
- In 2022, the U.S. Thoroughbred industry contributed $5.8 billion to the national GDP through direct, indirect, and induced effects
- The Thoroughbred racing sector generated $1.2 billion in taxes for federal, state, and local governments in 2022 across the U.S.
- In 2023, Thoroughbred racing supported 256,000 jobs nationwide in the U.S., with wages totaling $4.9 billion
- Global Thoroughbred breeding and racing industry was valued at $42 billion in 2022, led by markets in the U.S., UK, Japan, and Australia
- In Kentucky, the Thoroughbred industry accounted for 1.9% of the state's GDP in 2022, generating $6.4 billion in total economic output
- New York Thoroughbred racing contributed $4.2 billion to the economy in 2022, including $1.1 billion in wages and benefits
- The U.S. Thoroughbred sales market averaged $384,272 per horse sold at auction in 2023, up 12% from 2022
- Pari-mutuel handle for U.S. Thoroughbred racing reached $11.2 billion in 2023, a 4.5% increase year-over-year
- Florida's Thoroughbred industry generated $2.1 billion in economic impact in 2022, supporting 18,000 jobs
- In 2022, the Australian Thoroughbred racing industry contributed AUD 5.6 billion to GDP, with wagering turnover at AUD 7.8 billion
- The 2023 Kentucky Derby Week generated $287 million in direct spending for Louisville, with total economic impact exceeding $400 million
- U.S. Thoroughbred breeding farms produced $1.8 billion in farm gate revenue in 2022 from horse sales and services
- British Horseracing generated £4.7 billion in economic impact in 2022, including £1.7 billion from tourism
- Japanese Thoroughbred racing industry's JRA contributions reached ¥3.4 trillion in economic value in FY2022
- California Thoroughbred racing provided $1.5 billion in annual economic benefits, including $500 million in state taxes in 2022
- In 2023, U.S. Thoroughbred industry purse money totaled $1.6 billion, distributed across 30,000+ races
- Dubai World Cup night generated $250 million in economic impact for UAE in 2023, driven by Thoroughbred racing
- Irish Thoroughbred industry exported €1.2 billion in bloodstock in 2022, contributing 0.5% to national GDP
- Saudi Cup 2023 purse of $20 million boosted local economy by $100 million in tourism and spending
- Ontario Thoroughbred racing generated CAD 1.8 billion in economic activity in 2022, supporting 12,000 jobs
Economic Impact Interpretation
It appears the Thoroughbred industry isn't just horsing around, given it fuels hundreds of thousands of jobs, generates billions in taxes, and stakes a serious economic claim across the globe, from Kentucky to Dubai.
Employment and Jobs
- Thoroughbred industry employed 1.74 million people in the U.S. in 2022 across racing, breeding, and related sectors
- Kentucky Thoroughbred sector supported 58,500 direct jobs in 2023, with average wage $45,200 annually
- U.S. racetrack employment totaled 26,000 full-time equivalents in 2023, including backstretch workers
- Globally, Thoroughbred racing employed 300,000 direct workers in 2022, per IFHA estimates
- Florida Thoroughbred farms and training centers employed 14,200 people in 2022, generating $650 million in wages
- Jockeys numbered 1,200 active in U.S. Thoroughbred racing in 2023, with top earners averaging $2.5 million
- British Thoroughbred industry sustained 85,000 jobs in 2022, 40% in rural areas
- In 2023, 12,500 trainers were licensed for Thoroughbred racing in North America
- Australian Thoroughbred racing supported 120,000 jobs in 2022-23, including wagering sector
- New York Thoroughbred racing employed 22,000 workers in 2022, with $1.1 billion in payroll
- Veterinarians in U.S. Thoroughbred industry numbered 4,500 in 2023, specializing in equine medicine
- Farriers servicing Thoroughbreds totaled 8,000 nationwide in 2022, per farrier associations
- California Thoroughbred employment reached 25,000 jobs in 2023, focused on Southern CA tracks
- Exercise riders and grooms comprised 40% of racetrack workforce, about 10,400 in U.S. 2023
- Irish Thoroughbred sector employed 28,000 full-time equivalents in 2022, 70% in breeding
- Pari-mutuel clerks and mutuel tellers numbered 5,200 in U.S. Thoroughbred venues in 2023
- Ontario racing industry jobs totaled 9,500 in 2022, with training programs for 1,200 apprentices
- Women held 45% of Thoroughbred industry jobs in U.S. in 2023, up from 38% in 2018
Employment and Jobs Interpretation
Beneath the glamour and the thunder of hooves lies a sprawling economic engine, quietly employing over a million Americans and hundreds of thousands worldwide, from blacksmiths in rural barns to clerks at bustling windows, all ensuring this historic sport keeps the lights on and paychecks signed.
Horse Welfare and Safety
- U.S. Thoroughbred fatality rate in racing was 1.66 per 1,000 starts in 2022, per Jockey Club data
- In 2023, 92% of U.S. Thoroughbred racetracks implemented HISA safety protocols reducing injuries by 15%
- Average Thoroughbred racehorse career length was 22 starts over 3.2 years in 2023 U.S. data
- California Thoroughbred racing saw zero catastrophic injuries during 2023 Santa Anita meet, first in decades
- 78% of retired U.S. Thoroughbreds transitioned to second careers in 2023, per Thoroughbred Aftercare Alliance
- Medication violation rate in Thoroughbred racing dropped to 0.45% in 2023 under HISA rules
- UK Thoroughbred equine fatality rate was 0.72 per 1,000 flat race starts in 2022
- In 2023, 1,200 U.S. Thoroughbreds entered retraining programs post-racing, 85% success rate
- Japanese Thoroughbred racing injury rate was 1.2 per 1,000 starts in 2023, lowest in 20 years
- 65% of Thoroughbred fractures in racing were stress-related, treatable with surgery per 2023 studies
- Australian Thoroughbred welfare funding reached AUD 25 million in 2023 for aftercare initiatives
- Track surface synthetic vs. dirt reduced injury risk by 28% in U.S. Thoroughbred studies 2023
- 98% of U.S. Thoroughbred foals received veterinary wellness checks before sales in 2023
- Hong Kong Jockey Club reported 0.5% Thoroughbred fatality rate in 2022-23, with advanced rehab facilities
- Over 500 Thoroughbreds adopted yearly by New Vocations in 2023, 95% retrained successfully
- EIPH prevalence in racing Thoroughbreds was 85% post-race in 2023 scope studies, managed with lasix where allowed
- Irish Thoroughbred retirement scheme placed 450 horses in 2023, funded by levy on sales
- Biomechanical sensors on 10,000 U.S. Thoroughbreds in 2023 detected early lameness in 22% of cases
Horse Welfare and Safety Interpretation
While the path to perfect safety remains a marathon, not a sprint, the statistics show the Thoroughbred industry is finally learning to walk the walk, reducing tragedies on the track and ensuring more horses have a life, and a good one, after the finish line.
Racing Performance
- In 2023, the number of Thoroughbred races run in North America totaled 32,847, down 2% from 2022
- Average field size for U.S. Thoroughbred races in 2023 was 7.2 horses, the lowest since records began in 1990
- Handle per race day in U.S. Thoroughbred racing hit $4.8 million in 2023, up 6% from prior year
- In 2023, 47,392 Thoroughbred starters competed in North American races, a 1.5% decline YoY
- Win percentage for favorites in U.S. Thoroughbred races was 34.2% in 2023, consistent with historical averages
- Average speed index for Thoroughbred dirt races in 2023 was 92 Beyer points, up slightly from 91 in 2022
- Churchill Downs hosted 155 Thoroughbred races in 2023, with purses totaling $28.5 million
- In 2023, 28% of U.S. Thoroughbred races were won by horses aged 3-5 years, the most common age group
- Average purse per race in graded stakes for Thoroughbreds reached $145,000 in 2023
- Belmont Stakes 2023 featured a field of 8 Thoroughbreds, with the winner completing 1.5 miles in 2:28.27
- In 2023, Japanese Thoroughbred racing saw 18,492 races with JRA, average field size 15.3 horses
- UK Thoroughbred flat races in 2023 totaled 5,672, with average prize money £15,200 per race
- Australian Thoroughbred racing in 2022-23 had 4,927 races with over $1 billion in prizemoney
- Preakness Stakes 2023 won by National Treasure in 1:55.35 for 1 3/16 miles on dirt
- In 2023, 12.4% of U.S. Thoroughbred races were turf events, up from 11.8% in 2022
- Hong Kong Thoroughbred racing in 2022-23 featured 645 meetings with average handle HK$1.2 billion per meeting
- Average winning margin in U.S. Thoroughbred sprints (6 furlongs) was 2.1 lengths in 2023
- Del Mar Thoroughbred meet in 2023 had 78 days, 612 races, average daily handle $12 million
- In 2023, female Thoroughbreds won 52% of U.S. races overall, including fillies and mares
Racing Performance Interpretation
Despite the North American industry's shrinking fields and fewer runners, its betting handle per day grew by 6%, proving that while the sport may be contracting, the remaining faithful are doubling down on their passion—and their wallets.
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