Snapshot img

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.
Request Free Sample

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

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.

This dataset presents all the characteristics of the horses that raced in Honk Kong, between 2017 and 2020. The data was taken from the Hong Kong Jockey Club website.

The meaning of the columns:

1. Date: Date of the race. In Hong Kong there is only one race day, per day (racing two days a week). Bear in mind that the racing season starts in September and ends in July.
2. Track: The track the race was ran on, in Hong Kong that is either Sha Tin or Happy Valley. This is of importance, as horses often like Happy Valley or Sha Tin better than the other. Sha Tin is the main track.
3. Race number: The race number (a race day consists of 8-11 races).
4. Distance: The distance the particular race was ran at, in meters. Some horses are experts at sprint distances (e.g 1200 meters), some at middle distance (e.g 1600 meters), and some at longer distances (e.g 2000 m). Trainers could have specialities, too.
5. Surface: If the race was ran at Turf track (grass), or dirt track (AW - All Weather), which is a sand-based surface. This has predictive power - some horses prefer turf racing; some horses prefer dirt racing. Trainers could have specialities here, too.
6. Prize money. This is the total amount of prize money in the race. The higher the prize money, the better the race.
7. Starting position: The start gate number/post position, high numbers are drawn "wide" while low numbers are drawn to the inside. This is important, as high start gate numbers will correlate with ground loss (a lot of "paths"), because there is an increased chance of getting a position outside of other horses in the turns. The exception is the distance 1000 metres at Sha Tin, at this distance there are no turns and high numbers are usually not a bad thing.
8. Jockey: Who rode the horse in the race. Some jockeys win a lot more races than others.
9. Jockey weight: The weight of the jockey How much a jockey should (minimum) weigh in a given race is not a coincidence, it's based upon rules. Low weight (e.g 50 kg) represents racing against better horses with some weight advantages, while a high weight (e.g 60 kg) represents facing slower horses, but at a penalty.
10. Country: Where the horse was born.
11. Age: The age of the horse at the time of the race. A horse peaks at about 4 to 5 years old in average. Younger horses could improve more, older horses might get slower with age.
12. Trainer Name: The name of the trainer. A trainer is obviously important. How good they are could be calculated with a winning-% (wins/starts*100), but one could also calculate ROI based upon odds. There could also be hidden patterns based on age, distance, surface, the form of stable mates in the time period, etc.
13. Race time: The time of the race for the particular horse, in seconds.
14. Path: Is a measure of how wide each horse has been in the turn(s). A higher number means more ground loss due to wide position in the turns, i.e they have not ran the shortest way possible.
15. Final place: The finishing position in a race. (i.e 1st, 3rd, 4th etc)
16. FGrating: It's a way to normalize race times, so that it measures the quickness of the race regardless of which track, which distance, or the conditions at the race day. A way to normalize how fast a horse ran.
17. Odds: The odds the horse went off at in the market, i.e the probability of victory. This is important, as obviously lower odds correspond with a better finishing position in general.
18. Race Type: Mostly a distinguishing between "handicap races", where the horses do not carry the same jockey weight, and "non-handicap" - where the horses carry the same jockey weight and the fastest horse most often wins.
19. HorseId: Just an ID of the horse.
20. JockeyId: Just an ID of the jockey.
21. TrainerID: Just an ID of the trainer.

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.

The horse racing software market has emerged as a vital component within the larger equine industry, providing necessary solutions for race track management, betting operations, and performance analysis. This software enables race organizers and bettors to enhance their experience by offering tools like data analyti

The Horse Racing Betting Services market has evolved into a dynamic segment of the global gambling industry, specifically catering to enthusiasts who seek excitement while wagering on their favorite equine competitors. This market encompasses a range of services, including online and offline betting platforms, horse

Macau Gaming: Betting Amount: Horse Racing data was reported at 97.000 MOP mn in Sep 2018. This records a decrease from the previous number of 129.000 MOP mn for Jun 2018. Macau Gaming: Betting Amount: Horse Racing data is updated quarterly, averaging 467.000 MOP mn from Mar 2005 (Median) to Sep 2018, with 55 observations. The data reached an all-time high of 1,290.000 MOP mn in Mar 2005 and a record low of 96.000 MOP mn in Sep 2017. Macau Gaming: Betting Amount: 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 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

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.

Korea Racing Authority provides data on the racing performance of horses entered in Seoul, Busan-Gyeongnam, and Jeju racecourses. (Provided data includes the name of the racecourse, horse name, horse number, place of birth, sex, age, debut date, most recent race date, most recent race number, most recent race ranking, most recent race record, most recent race burden weight, most recent race rating, most recent race horse weight, most recent race name, most recent race burden type, most recent race grade, most recent race distance, total number of starts, total number of first places, total number of second places, total winning percentage, total place percentage, total starts in the past year, number of first places in the past year, number of second places in the past year, winning percentage in the past year, place percentage in the past year, total finishing prize money, finishing prize money in the past year, and prize money earned in the past 6 months.)

The Horse Racing Bookmakers market plays a crucial role in the global gambling industry, providing enthusiasts with platforms to place bets on various horse racing events. This market has evolved significantly over the years, driven by the increasing popularity of horse racing as a spectator sport and the rise of on

The Horse Racing Equipment market plays a pivotal role in the equine industry, catering to the diverse needs of riders, trainers, and horse owners. This sector encompasses a variety of products designed to enhance the performance and welfare of racehorses, from saddles and bridles to protective gear and racing tools

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.

The Korea Racing Authority provides information on the total racing records of horses, jockeys, and trainers at racecourses in Seoul, Busan, Gyeongnam, and Jeju. (The information provided is subject category, racecourse name, subject unique number, subject name, total 1st to 5th place, total number of starts, total first-place prize money, total conditional prize money, 1st to 5th place times in the past year, number of starts in the past year, last-place prize money in the past year, conditional prize money in the past year, 1st to 5th place times in the past 6 months, number of starts in the past 6 months, last-place prize money in the past 6 months, and conditional prize money in the past 6 months.) - You can search for data using the racecourse category (meet-1: Seoul, 2: Jeju, 3: Busan, Gyeongnam), subject category (pr_gubun-0: racehorse, 1: owner, 2: trainer, 3: jockey), subject name (pr_name), and subject unique number (pr_no) in the request message.

The Korea Racing Authority provides racing performance data for races held at racecourses in Seoul, Busan, Gyeongnam, and Jeju. (The provided data includes the racecourse name, race date, race number, single win winning entry number, single win odds, consecutive win winning entry number, consecutive win odds, place winning entry number, place odds, quinquenat winning entry number, quinquenat odds, quinquenat winning entry number, quinquenat odds, quinquenat winning entry number, quinquenat odds, trifecta winning entry number, trifecta odds, trifecta winning entry number, and trifecta odds.) - If you do not enter all request messages related to dates such as race year, race year/month, and race date in the request message, information for the past month based on the race date will be displayed. ※ Horse racing terms Betting odds - Single win: This is a method to correctly predict one horse to finish in 1st place. - Consecutive win: This is a method to correctly predict one horse to finish in 1st to 3rd place. - Place bet: This is a method to predict two horses that will finish in 1st, 2nd, and 3rd place, in any order. - Place bet: This is a method to predict two horses that will finish in 1st and 2nd place, in any order. - Win bet: This is a method to predict two horses that will finish in 1st and 2nd place, in order. - Triple bet: This is a method to predict three horses that will finish in 1st, 2nd, and 3rd place, in any order. - Tri-win bet: This is a method to predict three horses that will finish in 1st, 2nd, and 3rd place, in order.

Korea Racing Authority provides information on the best race records by race distance for races held at racecourses in Seoul, Busan, Gyeongnam, and Jeju, as well as the average record information for the corresponding race distance. (Provided data includes the name of the racecourse, race date, race number, race distance, horse name, horse number, race name, grade, place of origin, best record, average record, racecourse condition, moisture content, and weather data.) - You can search for data using the number of cases per page and the page number in the request message. - When there is no value for track condition (TRACK) and weather (WEATHER), it is processed as '-'. ※ Racecourse condition is indicated in 5 levels: moisture content 1-5% (dry), 6-9% (good), 10-14% (humid), 15-19% (saturated), and 20% or more (poor).

Overview of the univariable and multivariable models with data presented in days.

Korea Racing Authority provides detailed performance reports for races held at Seoul, Busan-Gyeongnam, and Jeju racecourses. (Information provided includes race date, race number, order of arrival, start number, horse number, horse name, racecourse, place of birth, sex, age, burden weight, jockey number, trainee jockey reduction, jockey name, jockey racecourse, trainer number, trainer name, trainer racecourse, owner number, owner name, owner doubles, finishing car, horse weight, horse weight increase/decrease, single win odds, consecutive win odds, race record, rating, janggu status, and participation status.) - You can search for data using the racecourse classification (meet-1. Seoul, 2. Jeju, 3. Busan-Gyeongnam), race date (rc_date), race number (rc_no), page number (pageNo), and the number to be displayed per page (numOfRows) in the request message.

The Horse Leg Protection market plays a crucial role in the equine industry, catering primarily to the safety and performance needs of horses across various disciplines, from racing to dressage and leisure riding. As horse owners increasingly prioritize the health and wellbeing of their equine partners, protective g

The Improved Breeding Horses market is witnessing significant growth as equine enthusiasts, breeders, and commercial operations increasingly recognize the value of enhanced breeding techniques to produce superior horses for various purposes, including racing, competition, and leisure. This market encompasses a range