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Horse Racing Market Size 2024-2028

The horse racing market size is forecast to increase by USD 114.5 billion, at a CAGR of 14.71% between 2023 and 2028.

The market witnesses an intriguing interplay of trends and challenges. The involvement of younger generations in horse racing is a significant driver, as this demographic brings fresh energy and enthusiasm to the sport. This demographic shift is evident in the increasing popularity of horse racing events that cater to the younger audience, such as music festivals and tech-savvy initiatives. Another trend shaping the market is the growing adoption of online betting platforms. Technology has transformed the way horse racing enthusiasts engage with the sport, allowing for convenient and accessible betting experiences. This shift towards digital platforms is a response to evolving consumer preferences and the convenience they offer.
However, the market is not without challenges. The rising concerns for animal welfare pose a significant obstacle. The horse racing industry faces increasing scrutiny and pressure to ensure the well-being of its equine athletes. Addressing these concerns requires a collaborative effort from all stakeholders, including race organizers, trainers, and governing bodies. By implementing stricter regulations and investing in research and development, the industry can mitigate these challenges and maintain its reputation as a responsible and ethical pastime.

What will be the Size of the Horse Racing Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2018-2022 and forecasts 2024-2028 - in the full report.
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The market continues to evolve, with various sectors experiencing ongoing dynamics that shape the industry. Veterinary care plays a crucial role in ensuring the wellbeing of equine athletes, with advancements in equine health leading to improved performance and fan engagement. Track conditions and race strategy are critical factors influencing the outcome of races, with media coverage providing real-time updates on these elements. Prize money and performance data are essential tools for horse racing media and gambling regulation, providing valuable insights for fans and stakeholders alike. Social media and online streaming platforms have revolutionized fan engagement, allowing for unprecedented access to racing events and real-time analysis of race statistics.

Governing bodies and racing associations work to maintain integrity and adhere to strict regulations, including drug testing and animal rights. The horse racing industry is a global phenomenon, with events such as the Triple Crown, Royal Ascot, Melbourne Cup, and Breeders' Cup attracting international attention. Racing equipment, including boots, helmets, and racing silks, plays a vital role in ensuring the safety and comfort of horses. Race preparation and training regimens are continually refined to optimize performance, with racing surfaces and race classes catering to various horse breeds and abilities. Pari-mutuel betting and betting exchanges offer fans the opportunity to place wagers on their preferred horses, with fixed odds providing a sense of security and predictability.

Horse racing statistics and betting odds are closely monitored by fans and industry experts, with post-race recovery and race distances influencing the outcome of races. In summary, the market is a dynamic and evolving industry, with various sectors interconnected and influencing one another. From veterinary care and track conditions to fan engagement and gambling regulation, the horse racing industry continues to innovate and adapt to meet the changing needs and expectations of fans and stakeholders.

How is this Horse Racing Industry segmented?

The horse racing industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Type

  Flat racing
  Jump racing
  Harness racing
  Endurance racing


Revenue Stream

  Betting revenue
  Live event revenue
  Broadcasting rights
  Sponsorship and advertising
  Horse sales and breeding


Geography

  North America

    US


  Europe

    France
    UK


  APAC

    Australia
    Japan


  Rest of World (ROW)

By Type Insights

The flat racing segment is estimated to witness significant growth during the forecast period.

Flat horse racing is a globally popular equestrian sport where horses compete over predetermined distances, ranging from 402 to 4,828 meters. The majority of races take place on turf, with North America predominantly using dirt surfaces. This cultural phenomenon attracts millions of spectators annually, particularly in the UK, where it intertwines with fashion and social events. The sport's strategy an

Context

This dataset contains data of horse racings from 1990 till 2020.

Content

There are two different file types, races and horses, one pair for each year from 1990. I hope to update the current year data on a regular basis.

races_* columns description:

rid - Race id; course - Course of the race, country code in brackets, AW means All Weather, no brackets means UK; time - Time of the race in hh:mm format, London TZ; date - Date of the race; title - Title of the race; rclass - Race class; band - Band; ages - Ages allowed distance - Distance; condition - Surface condition; hurdles - Hurdles, their type and amount; prizes - Places prizes; winningTime - Best time shown; prize - Prizes total (sum of prizes column); metric - Distance in meters; countryCode - Country of the race; ncond - condition type (created from condition feature); class - class type (created from rclass feature).

horses_* columns description:

rid - Race id; horseName - Horse name; age - Horse age; saddle - Saddle # where horse starts; decimalPrice - 1/Decimal price; isFav - Was horse favorite before start? Can be more then one fav in a race; trainerName - Trainer name; jockeyName - Jockey name; position - Finishing position, 40 if horse didn't finish; positionL - how far a horse has finished from the pursued horse, horses corpses; dist - how far a horse has finished from a winner, horses corpses; weightSt - Horse weight in St; weightLb - Horse weight in Lb; overWeight - Overweight code; outHandicap - Handicap; headGear - Head gear code; RPR - RP Rating; TR - Topspeed; OR - Official Rating father - Horse's Father name; mother - Horse's Mother name; gfather - Horse's Grandfather name; runners - Runners total; margin - Sum of decimalPrices for the race; weight - Horse weight in kg; res_win - Horse won or not; res_place - Horse placed or not

forward.csv contains information collected prior a race starts. The odds are averages from from Oddschecker.com, RPRc and TRc also have current values.

Note

Please be aware, the prices provided are the SP (starting prices), and they are not available before race starts. This means prices before start may differ from SP. But usually favorites stay the same, and prices on them often higher then SP. Anyway you can't predict profit with accuracy based only on SP prices.

Inspiration

I suppose prediction of horse racing results by machine learning methods is a difficult task. There is no any highly correlated features, the outcome classes are imbalanced. I tried to make my own predictions, but with no luck. I hope to get some inspirations from your research. Please, share your experience with everyone or just with me. Thank you!

Disclaimer

The data provided has been collected from public open websites, without sign-ups, log-ins and other restrictions from sources. Please, do not use this data for any commercial purposes.

Here are a few use cases for this project:

1. Sports Analytics: The "Horse Racing Level 2" model can be utilized for breaking down video or images from horse races, identifying key features such as the horse's body, number labels, or helmets. This could assist in providing real-time race statistics, horse performance analysis, and tracking the jockey's control by scrutinizing his movement and head orientation.

2. Betting Applications: Computer vision model could be utilized in the creation of platforms for horse racing betting. It can collect data about the horses and their jockeys during the races, enabling users to make informed bets based on a horse's performance or a jockey's strategy visualized by the model.

3. Training Enhancement: Trainers could use this model to monitor and analyze a jockey's form and the horse's performance during training sessions. This could provide crucial insights for improving techniques, strategy and overall performance.

4. Media Coverage: Media outlets could use this model to enhance the viewer's experience by offering deeper insights into the race such as visualizing the number labels, horse details or helmet analysis for audience's better understanding of the race.

5. Event Security: At horse racing events, security officials can use this model to identify specific jockeys or horses based on their helmets and label numbers, respectively. This could assist them in monitoring activities in crowded situations or controlling access to certain areas.

The Unseen data to test the models created in "Predicting the Outcome of a Horse Race"

Horse Racing Software Market Outlook

The global horse racing software market size was valued at approximately USD 180 million in 2023 and is forecasted to reach USD 340 million by 2032, growing at a compound annual growth rate (CAGR) of 7.2%. This promising growth trajectory is driven by a variety of factors including the increasing popularity of horse racing as a sport and betting activity, advancements in technology, and the rising demand for sophisticated betting and handicapping software solutions.

One of the key growth factors of the horse racing software market is the increasing adoption of digital platforms and mobile applications. As more users shift from traditional betting methods to online platforms, the demand for reliable, user-friendly, and feature-rich software solutions is steadily rising. This transition is not only making betting and handicapping more accessible but is also attracting a younger demographic, further fueling market expansion. Additionally, the COVID-19 pandemic accelerated the digital transformation across various sectors, including horse racing, thus boosting the market's growth.

Advancements in artificial intelligence (AI) and machine learning (ML) technologies are also playing a pivotal role in the evolution of horse racing software. AI-driven analytics and predictive algorithms have significantly improved the accuracy of handicapping and betting decisions. These technologies enable users to analyze large datasets, consider numerous variables, and generate insights that were previously unattainable. As a result, both novice and experienced bettors are increasingly relying on these advanced software solutions to enhance their betting strategies and outcomes.

The growth of the horse racing software market is further propelled by the rising globalization of horse racing events. Major events like the Kentucky Derby, the Royal Ascot, and the Melbourne Cup attract a global audience, driving cross-border betting activities. This international appeal is fostering the need for software solutions that can cater to diverse markets and comply with various regulatory frameworks. Additionally, the increasing number of racing clubs and betting agencies investing in cutting-edge software to improve their operations and customer experience is contributing to the market's expansion.

Regionally, North America holds a dominant position in the horse racing software market, supported by a strong tradition of horse racing and well-established betting infrastructure. The Asia Pacific region is expected to witness significant growth during the forecast period, driven by the rising popularity of horse racing in countries like Japan, Hong Kong, and Australia. Europe also presents substantial growth opportunities, with countries like the UK and France having a deep-rooted horse racing culture. The Middle East and Africa, while currently a smaller market, are showing potential for growth due to increasing investments in horse racing infrastructure and events.

Product Type Analysis

The horse racing software market is segmented into various product types such as handicapping software, betting software, simulation software, and others. Handicapping software is designed to assist bettors in analyzing racing data and making informed betting decisions. This type of software is increasingly popular among both casual and professional bettors due to its ability to process vast amounts of data and provide statistics, trends, and predictive analytics. The demand for handicapping software is expected to grow significantly as more bettors seek to enhance their betting strategies through data-driven insights.

Betting software, which facilitates the act of placing bets, is another critical segment. These platforms offer a seamless betting experience, often integrating live odds, race schedules, and secure payment gateways. Betting software is particularly popular among betting agencies and individual users who prefer the convenience of online betting. With the growing trend of mobile betting, software developers are focusing on creating mobile-friendly platforms that offer the same functionalities as their desktop counterparts, thereby expanding their user base.

Simulation software provides a virtual racing experience, allowing users to simulate horse races for entertainment or training purposes. This type of software is gaining traction among horse racing enthusiasts who enjoy the thrill of racing without the financial risks associated with real betting. Additionally, racing clubs and training centers use simulation sof

The Horse Racing Licensing report lists all individuals licensed to compete within New York State.

The Horse Racing Radio Network is a comprehensive online platform providing a wide range of horse racing-related content, including radio shows, podcasts, and live broadcasts. The network features various shows, such as Trainer Talk, Equine Forum, and Betting with Bobby, which provide insights and expert opinions on the horse racing industry. Additionally, the network provides live radio broadcasts of major horse racing events and showcases, allowing listeners to stay up-to-date with the latest news and developments in the sport.

The Horse Racing Radio Network is supported by a diverse range of sponsors and partners, including TwinSpires, Fasig-Tipton, 1ST Bet, and Gulfstream Park, among others. The network's content is available on-demand and can be accessed through their website, podcast platform, or social media channels. With a focus on providing high-quality content and expert analysis, the Horse Racing Radio Network has established itself as a go-to resource for horse racing enthusiasts and professionals alike.

Introduction

This dataset is created for experts in machine learning who are eager to make money by wagering in the Hong Kong Jockey Club. It is supported by HorseBaby (http://www.horsebb.com/en), an open database for horse racing experts. For data follow up, please register and use the HorseBaby website. We will offer online data services beginning from the Season 2018-2019.

Content

The dataset includes historical racing results, comments, barrier trials, track work and horse information. You can do feature engineerings and modelings based on this dataset.

Acknowledgements

The historical datasets were collected from HKJC and other public websites. For data follow up, please refer to HorseBaby (http://www.horsebb.com/en).

The Horse Racing Rulings report lists any fines and suspensions issued by the New York State Gaming Commission’s Division of Horse Racing and Pari-Mutuel Wagering.

The Korea Racing Authority provides information on the highest/lowest/average records for each horse in races held at racecourses in Seoul, Busan-Gyeongnam, and Jeju. (The provided data is the racecourse name, horse name, horse number, race date, race number, race distance, start number, best record, S1F best record, S1F lowest record, S1F average record, 1C best record, 1C lowest record, 1C average record, 2C best record, 2C lowest record, 2C average record, 3C best record, 3C lowest record, 3C average record, 4C best record, 4C lowest record, 4C average record, G3F best record, G3F lowest record, G3F average record, G1F best record, G1F lowest record, G1F average record.) - You can search the data using the page number (pageNo) and the number to be displayed per page (numOfRows), horse name (hr_name), horse number (hr_no), racecourse type (meet), race date (rc_date), race year (rc_year), and race month (rc_month) in the request message. - Displays the highest, lowest, and average section records by distance for the previous races, including the entered race date, for the horses that participated on the race date entered in the request message. - The race date and race number in the displayed data are the race data for which the horse achieved the highest record by distance. ※ Additional explanation of summary words - F (FURLONG): 200-meter section - C (CORNER): Curved section - S1F: 200-meter section from the starting point - G1F: 200-meter section from the finishing point - G3F: 600-meter section from the finishing point

The global horse racing software market is experiencing robust growth, driven by increasing adoption of technology within the horse racing industry and a rising demand for data-driven insights to improve betting strategies. The market, estimated at $500 million in 2025, is projected to exhibit a Compound Annual Growth Rate (CAGR) of 15% from 2025 to 2033. This growth is fueled by several key factors. Firstly, the proliferation of smartphones and tablets has made access to horse racing software more convenient, leading to increased user adoption across various segments. Secondly, the competitive nature of horse racing betting necessitates the use of sophisticated software to analyze data, predict outcomes, and optimize betting strategies. The market segmentation reveals a preference for paid software amongst serious bettors, while free software caters to a wider, less engaged audience. The mobile segment is the fastest growing, reflecting the trend towards mobile-first accessibility. Finally, the presence of numerous established and emerging players like Profit Maximizer, BetMix, and others indicates a highly competitive landscape, further stimulating innovation and market expansion. This competition is driving the development of more sophisticated and user-friendly software, with features such as advanced statistical analysis, real-time data feeds, and personalized betting recommendations. The market's growth isn't without its challenges. Regulatory hurdles and concerns surrounding the ethical implications of using sophisticated software in horse racing betting represent significant restraints. Furthermore, the need for continuous software updates and maintenance presents an ongoing cost for users. However, the market's overall positive trajectory is expected to continue, fueled by the ongoing technological advancements and the inherent demand for improved betting strategies within the horse racing community. The Asia Pacific region, particularly China and India, are anticipated to witness significant growth in the coming years, due to increasing participation in horse racing and rising internet and smartphone penetration. North America, with its well-established horse racing industry, will continue to be a major market, followed by Europe.

Korea Racing Authority provides information on the results of races held at Seoul, Busan, Gyeongnam, and Jeju racecourses. (Information provided includes racecourse name, race date, race number, race grade, race track condition, order of arrival, start number, horse name, horse number, country of origin, domestic/foreign classification, horse age, gender, race record, total number of first-place finishes, total number of second-place finishes, total number of appearances, number of first-place finishes in the past year, number of second-place finishes in the past year, number of appearances in the past year, jockey age, jockey career, total number of first-place finishes by jockey, total number of second-place finishes by jockey, total number of appearances by jockey, number of first-place finishes by jockey in the past year, number of second-place finishes by jockey in the past year, number of appearances by jockey in the past year, trainer career, total number of first-place finishes by trainer, total number of second-place finishes by trainer, total number of appearances by trainer, number of first-place finishes by trainer in the past year, number of second-place finishes by trainer in the past year, number of appearances by trainer in the past year, horse weight (These are data on increase/decrease, burden weight, jockey name, jockey number, trainer name, trainer number, actual departure time, scheduled departure time, departure time change type, departure time change reason, cancellation, confirmation, number of 1st place finishes by entrusted racing horses, number of 2nd place finishes by entrusted racing horses, number of appearances by entrusted racing horses, Seoul section passing ranking, Jeju section passing ranking, Busan-Gyeongnam section passing ranking, Seoul section passing cumulative record, Jeju section passing record, Busan-Gyeongnam section passing record, and Busan-Gyeongnam section passing cumulative record.) - You can search for data using the race confirmation status (final_bit), racecourse number (meet), race date (rc_date), race month (rc_month), race number (rc_no), race year (rc_year), page number (pageNo), and the number to be displayed per page (numOfRows) in the request message.

Context

This is a data set wrapped from Hong Kong Jockey Club.

Content

There are two parts of the data set, Horse Information and Past Record of the horse, where they came from: http://www.hkjc.com/english/racing/horse.asp?HorseNo=T179 (example link).

The wrapping script in on my github: https://github.com/p768lwy3/HorseRacingHongKong.

Acknowledgements

Thank you for every one who participate in the community.

Inspiration

Hope everyone enjoy.

Global Horse Racing Market accounted for USD 402.3 Billion in 2022 and is expected to reach USD 793.9 Billion by 2030, growing at a CAGR of 8.89%.

Maryland Sports (http://www.marylandsports.us/) has identified sport venues located within the State of Maryland. These venues offer opportunities to participate in free and fee-based, organized and pick-up, indoor and outdoor sports and physical fitness related activities in the area of Horse Racing.

This provides information on horse racing and horse racing ticket sales rankings provided by the Korea Racing Authority. (The provided data includes sales rankings, racecourse names, win sales, consecutive win sales, place sales, twin win sales, quinquenade sales, triple win sales, triple win sales, and total sales.) - Note: Each sales figure is in won. ※ Betting types operated by the Korea Racing Authority - Win: This is a method to correctly predict 1 horse to finish in 1st place. - Consecutive win: This is a method to correctly predict 1 horse to finish in 1st, 2nd, and 3rd place. When there are 7 or fewer horses participating in the race, correctly predict 1 horse to finish in 2nd place. - Place: This is a method to correctly predict 2 horses to finish in 1st, 2nd, and 3rd place, regardless of order. - Place: This is a method to correctly predict 2 horses to finish in 1st and 2nd place, regardless of order. - Twin: This is a method of predicting the two horses that will finish in 1st and 2nd place in that order. - Triple: This is a method of predicting the three horses that will finish in 1st, 2nd, and 3rd place in that order. - Tri-Twin: This is a method of predicting the three horses that will finish in 1st, 2nd, and 3rd place in that order.

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Horse And Sports Betting Market Size 2025-2029

The horse and sports betting market size is forecast to increase by USD 252 million at a CAGR of 11.4% between 2024 and 2029.

The market is experiencing significant growth, driven by several key trends. One of the primary factors fueling market expansion is the increasing digital connectivity, enabling more consumers to place bets online. Another trend is the rising adoption of advanced technologies such as artificial intelligence (AI) and machine learning, which enhance the betting experience and improve accuracy. However, stringent government regulations pose a challenge to market growth, requiring operators to comply with complex rules and restrictions. Despite these challenges, the market is expected to continue its upward trajectory, offering ample opportunities for stakeholders.

What will be the Size of the Horse And Sports Betting Market During the Forecast Period?

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The market In the US continues to experience significant growth, driven by the increasing number of internet users and smartphone users. Digital infrastructure and wireless connectivity have enabled online betting to become a convenient and accessible option for individuals seeking to place wagers on athletic events.



Horse racing and horse racing wagering remain popular categories within this market, with past performance and track conditions being key factors in bettors' decision-making processes. The trend towards digitalization is further evidenced by the rise of casino organizations offering fixed odds wagering on horse races, as well as the emergence of esports betting. According to Datareportal, there are currently over 300 million monthly active internet users In the US, and the implementation of 5G networks is expected to further enhance the user experience for mobile device users.

How is this Horse And Sports Betting Industry segmented and which is the largest segment?

The horse and sports betting industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Platform

  Offline betting
  Online betting


Type

  Fixed odds wagering
  Exchange betting
  Live betting
  esports betting
  Others


Geography

  Europe

    Germany
    UK
    Italy


  APAC

    China
    India
    Japan


  North America

    Canada
    US


  South America

    Brazil


  Middle East and Africa

By Platform Insights

The offline betting segment is estimated to witness significant growth during the forecast period.

The market encompasses both online and offline platforms. While online betting is growing in popularity, offline betting remains the largest segment due to various factors. Some individuals prefer the traditional betting experience and are not comfortable with technology. Additionally, government regulations in certain regions limit sports betting to offline channels. Offline betting, including horse racing, is accessible through local bookies and betting shops, allowing customers to bet on credit. The convenience and flexibility of paying later contribute to the continued popularity of offline betting. Despite advancements in technology and the rise of online platforms, offline betting maintains a significant presence In the market.

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The offline betting segment was valued at USD 219.80 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 48% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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In Europe, the market has experienced significant growth due to the increasing popularity of online betting and the widespread use of smartphones. With Internet connectivity rates averaging between 50% and 60% among European internet users, online betting platforms have gained traction. Regulatory frameworks have become more permissive towards both online and offline betting, creating a secure environment for sports enthusiasts. The presence of numerous bookmakers in major European countries such as Germany, the UK, France, Italy, and Poland, along with the popularity of various sports activities, has further fueled market expansion. Overall, the digital infrastructure and wireless connectivity have enabled easy access to athletic events, making horse and sports betting an increasingly popular pastime in Europe.

Market Dynamics

Our horse and sports betting market researchers analyzed the data with

Macau Gaming: Gross Revenue: Horse Racing data was reported at 19.000 MOP mn in Sep 2018. This records a decrease from the previous number of 26.000 MOP mn for Jun 2018. Macau Gaming: Gross Revenue: Horse Racing data is updated quarterly, averaging 91.000 MOP mn from Mar 2005 (Median) to Sep 2018, with 55 observations. The data reached an all-time high of 248.000 MOP mn in Mar 2005 and a record low of 19.000 MOP mn in Sep 2018. Macau Gaming: Gross Revenue: Horse Racing data remains active status in CEIC and is reported by Gaming Inspection and Coordination Bureau. The data is categorized under Global Database’s Macau SAR – Table MO.Q017: Gaming Statistics.

The global horse racing software market size was valued at USD x million in 2025 and is projected to grow at a CAGR of x% during the forecast period (2025-2033). Increased adoption of mobile and tablet devices for horse racing betting, growing popularity of online horse racing, and rising demand for data-driven insights to improve betting strategies are the major factors driving market growth. The market is segmented based on application into mobiles, tablets, and PCs, and by type into paid and free software. Paid software accounted for the largest share in 2025, owing to the advanced features and functionalities offered by these solutions. Key players in the market include Profit Maximizer, BetMix, Midas Method, Myracing, Horse Race System, Proform Racing, Form Genie, DataForm, RaceXpert, Pro Punter Package, Betsender, BetAmerica, and The Staking Machine. North America is expected to dominate the market throughout the forecast period, due to the presence of established horse racing infrastructure and high adoption of horse racing software.

Korea Racing Authority provides rating information on racehorses that participated in racecourses in Seoul, Busan-Gyeongnam, and Jeju. (Provided data includes racecourse, horse number, horse name, rating 1, rating 2, rating 3, and rating 4.) - You can search for data using the number of cases per page and page number in the request message. ※ Rating: A score given to evaluate the performance or ability of each racehorse in horse racing. Ratings are calculated by comprehensively considering the racehorse's past performance, performance in the race, and comparison with opposing horses. Through this, the competitiveness of the racehorse can be assessed, and it is used as a reference when betting.