Overall sports betting is on the rise in the United States, with significant increases in the amount wagered on stick-and-ball leagues like the NFL, NBA, and MLB. However, pari-mutuel wagering on thoroughbred horse racing is trending downwards, with a decline in handle reported for the past five years.

Despite the availability of online gambling sites and horse racing apps from companies like DraftKings and FanDuel, pari-mutuel handle continues to decrease. The decline in wagering on horse racing is concerning for the industry, as it has led to the closure of numerous race tracks and poses a threat to the future of the sport.

Efforts to attract younger bettors to horse racing, such as further legalization of fixed-odds wagering, are being explored. However, the lack of fixed odds in most states and the complexities of the pari-mutuel system compared to traditional sports betting may be contributing to the decline in handle. It will likely require a multi-channel approach and collaboration between sports betting operators and horse racing tracks to reverse the trend and engage a new generation of bettors.