Purses up, betting down on U.S. horse races

Purses are on the rise but betting, perhaps hampered by foul April weather at racetracks, is still dropping, according to monthly figures released by Equibase.

Wagering last month was down 7.47 percent, or about $75 million, while purses rose 3.40 percent, or $2.8 million.

Year to date, wagering on U.S. races is down 8.22 percent or about $300 million from the same time period last year. Purses are up 4.75 percent year to date, or about $13 million.