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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 and uniqu

Over the past 15 years, the turnover from off course horse race betting in the United Kingdom has been on a general trend of decline. As of March 2024, the figure totaled 3.08 billion British pounds. This was both a decrease over the previous year and 46 percent lower than it had been as of March 2009.

The annual turnover of on course horse race betting in Great Britain amounted to ****** million British pounds between April 2023 and March 2024. This denoted a slight increase from the previous year's total of ****** million British pounds.

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.

The statistic displays the number of runners in horse races in Great Britain from 2011 to 2016, by race type. In 2015, there were ****** runners in jump races in Great Britain. More information about equestrian sports in the UK can be found in the Dossier: Equestrian sports in the United Kingdom.

The annual gross gambling yield (GGY) of on course horse race betting in Great Britain amounted to ***** million British pounds between April 2023 and March 2024. This denoted an increase from the previous year's total of ***** million British pounds.

This horizontal bar chart displays news by source using the aggregation count. The data is filtered where the keywords includes Horse racing-Great Britain-History.

This pie chart displays news per source using the aggregation count. The data is filtered where the keywords includes Horse racing-Great Britain-History.

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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.

For more insights on the market share of various regions, Request Free Sample

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 2024 as th

The statistic shows the number of people employed full and part time with licensed and permitted trainers in horse racing in Great Britain in 2015, by gender. In 2015, there were ***** male full time employees working with licensed horse trainers. Equestrian sports are rather popular in the United Kingdom. In 2016 there were ******* people in England alone, participating in equestrian sports on a monthly basis. Further information on equestrian sports in the UK can be found in the Dossier: Equestrian Sports in the United Kingdom.

This line chart displays news by publication date using the aggregation count. The data is filtered where the keywords includes Horse racing-Great Britain-History.

betfair csv files for Betfair Starting Price (BSP) data from https://promo.betfair.com/betfairsp/prices

28th May 2008 to Current BSP files are available here.

Greyhound data from UK, Ireland and Australian tracks Horse Racing from USA, Ireland, UK, RSA, NZ and Aus.

France and UAE files have recently been added in 2023 from Betfair.

These are the original url source files, without modifications ***.

Updated Monthly or head to github repo for most current files from latest code execution run. At least monthly updates will be executed and updated in github and here.

*** Important Update *** Greyhound race files only. Corrections made: A) additional columns found correction B) missing MENU_HINT data updated

• - A - - Due to additional columns found in column 'EVENT_NAME', when parsing data with pandas, corrections have been made to some of the source files between 2017 - 2024.

Initially the cell in this column was deleted which will result in a missing word in the EVENT_NAME string.

Until it was realised that the extra column was due to the comma in the EVENT_NAME string. Then the split string was merged back together.

The files affected that had the cell contents deleted will be rechecked and corrected at some stage. These affected UK races where the 'MENU_HINT' column string = 'Greyhound Racing / Trap Challenge'

• - B - - For some Australian Greyhound Races, entire race 'MENU_HINT' column string details would be missing. These have been filled by cross checking race results from https://www.thegreyhoundrecorder.com.au/

Currently 2017 - 2024 date range updated.

Horse Racing Files: No data changes made.

The statistic displays the number of horse racing fixtures run according to the British Horseracing Authority in Great Britain from 2011 to 2016, by type. In 2015, *** jump races were run in Great Britain. More information about equestrian sports in the UK can be found in the Dossier: Equestrian sports in the United Kingdom.

The statistic displays the number of professional jockeys licensed by the British Horseracing Authority in Great Britain from 2011 to 2016. In 2015, there was a total of *** professional jockeys licensed by the British Horseracing Authority in Great Britain. More information about equestrian sports in the UK can be found in the Dossier: Equestrian sports in the United Kingdom.

This bar chart displays news by classification using the aggregation count. The data is filtered where the keywords includes Horse racing-Great Britain-History.

The statistic displays the income breakdown of the British Horseracing Authority before statutory adjustments from 2014 to 2017, by source. In 2017, the British Horseracing Authority generated approximately **** million British pounds of income through racecourses. The British Horseracing Authority is the regulatory authority for horse racing in Great Britain. In 2016, there were ******* people in England alone, participating in equestrian sports on a monthly basis. Further information on equestrian sports in the UK can be found in the Dossier: Equestrian Sports in the United Kingdom.

This horizontal bar chart displays polarity sentiment score by source using the aggregation average. The data is filtered where the keywords includes Horse racing-Great Britain-History.

This line chart displays polarity sentiment score by publication time using the aggregation average. The data is filtered where the keywords includes Horse racing-Great Britain-History.

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This statistic displays the total income of the British Horseracing Authority (BHA) in United Kingdom (UK) from 2015 to 2019. In 2018, the BHA had a total income of approximately **** million British pounds. The British Horseracing Authority is the regulatory authority for horse racing in Great Britain. In 2016, there were ******* people in England alone, participating in equestrian sports on a monthly basis. Further information on equestrian sports in the UK can be found in the Dossier: Equestrian Sports in the United Kingdom.