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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.

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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

The annual gross gambling yield (GGY) of off course horse racing in Great Britain amounted to 446.57 million British pounds between April 2022 to March 2023. This shows an increase from the previous period when the country's gross gambling yield reached 386.55 million British pounds.

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 statistic shows the number of stable employees in horse racing in Great Britain in 2015, by category and gender. In 2015, there were 261 male assistant trainers in British horse racing. Equestrian sports are rather popular in the United Kingdom. In 2016 there were 352,900 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.

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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.

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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

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, 558 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 average number of runs per horse in horse racing in Great Britain from 2011 to 2016, by race type. In 2016, the average number of runs per horse in jump races in Great Britian was 3.7. 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 employees of the British Horseracing Authority in Great Britain in 2017, by business unit. In 2017, the British Horseracing Authority employed 15 executive staff members. The British Horseracing Authority is the regulatory authority for horse racing in Great Britain. In 2016, there were 352,900 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.

The statistic depicts the core industry employment of British horse racing in 2012. The horse racing's core industry, comprising those directly involved in the day-to-day running of the sport, employed 17,400 full-time equivalents. 6,325 of those FTEs were trainers (including stable staff).

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Sports Betting Market Size 2025-2029

The sports betting market size is forecast to increase by USD 221.1 billion, at a CAGR of 12.6% between 2024 and 2029.

The market is experiencing dynamic growth, driven by the digital revolution and the emergence of machine learning technologies. These advancements enable more accurate predictions and personalized betting experiences for consumers, creating a competitive edge for market participants. Popular betting options include football (soccer), basketball, tennis, horse racing, cricket, and various other sports events. However, this market landscape is not without challenges. Stringent government regulations and restrictions pose significant obstacles, requiring companies to navigate complex legal frameworks and comply with evolving policies.
As the industry continues to evolve, staying informed of regulatory changes and adapting to technological advancements will be crucial for market success. Companies that effectively balance innovation and regulatory compliance will be well-positioned to capitalize on the growing opportunities in the market.

What will be the Size of the Sports Betting Market during the forecast period?

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The market continues to evolve, with dynamic market activities shaping its various sectors. Artificial intelligence (AI) is increasingly being integrated into promotional campaigns, enhancing user experience through personalized recommendations and real-time analysis. Spread betting, a popular form of wagering, employs advanced statistical modeling and risk management techniques. Problem gambling remains a significant concern, with player protection measures such as responsible gambling initiatives and KYC procedures being implemented. Betting odds are visualized through data visualization tools, enabling users to make informed decisions. Live streaming and in-play betting provide real-time updates, while API integration and odds comparison tools facilitate seamless data access.

Machine learning algorithms are used for fraud detection and customer segmentation, ensuring secure payment gateways and AML compliance. Bonus offers and loyalty programs are employed as customer acquisition and retention strategies. Data analytics and betting algorithms enable efficient risk management and effective marketing campaigns. Data feeds from sports data providers are crucial for accurate betting odds and real-time score updates. First goalscorer and correct score bets add excitement to the betting experience. Prop bets and Asian handicap betting cater to diverse user preferences. Live score updates and game integrity are ensured through rigorous security protocols and data encryption.

Pre-match betting and futures betting offer opportunities for long-term investment. Ongoing market activities and evolving patterns underscore the continuous dynamism of the market.

How is this Sports Betting Industry segmented?

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

Platform

  Online
  Offline


Type

  Basketball
  Horse riding
  Football
  Others


Betting Type

  Fixed Odds Wagering
  Exchange Betting
  Live/In-Play Betting
  eSports Betting


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  APAC

    Australia
    China
    India
    Japan


  Middle East and Africa

    UAE


  South America

    Argentina
    Brazil


  Rest of World (ROW)

By Platform Insights

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

The online market is experiencing notable expansion, fueled by technological advancements and favorable regulatory shifts. Key drivers of this growth include the expanding betting market due to continuous innovation in online channels, the increasing availability of mobile platforms with the widespread use of the Internet and smartphones, and the structural migration of customers from retail to online betting in emerging markets. Improvements in platform quality and user experience, particularly through betting applications, further enhance the appeal of online betting. With digitalization on the rise and smartphone penetration increasing, regions such as APAC and MEA present significant opportunities for growth in the online sports betting sector.

Technological advancements have also brought about the integration of various features, such as machine learning algorithms for risk management and player protection, responsible gambling initiatives, API integration, and odds comparison tools. In-play betting, live sc

The global horse racing betting market is a dynamic and substantial industry, exhibiting consistent growth driven by increasing participation in online betting and the rising popularity of horse racing itself. While precise market sizing requires proprietary data, considering a conservative estimate of a $10 billion market size in 2025 (based on reported values for similar gambling sectors and adjusting for the specific niche of horse racing), a compounded annual growth rate (CAGR) of 5% over the forecast period (2025-2033) is plausible. This growth is fueled by several key drivers: the increasing accessibility and convenience of online betting platforms, the expansion of legal and regulated online gambling markets worldwide, and innovative betting options such as combination bets and in-play betting further enhance user engagement. Technological advancements like improved live streaming and data analytics also contribute to this expansion. However, the market faces potential restraints, including stringent regulatory frameworks in various jurisdictions, concerns about problem gambling and responsible gaming initiatives that might impact revenue, and competition from other forms of sports betting and entertainment. Geographic variations in market maturity are expected, with established markets in North America and Europe experiencing steady growth, while emerging markets in Asia and parts of Africa present significant opportunities for expansion. The segmentation by betting type (single bet versus combination bet) and application (online versus offline betting) reveals valuable insights into consumer preferences and industry trends; understanding these nuances is critical for effective market strategy. The breakdown of the market across key geographic regions highlights substantial differences in growth potential. North America, with its mature gambling industry and established horse racing culture, remains a significant market. Europe, particularly the UK, Germany, and France, also contributes substantially. The Asia-Pacific region, including China, India, and Japan, represents a large untapped potential, though regulatory landscapes and cultural factors influence growth trajectories. The Middle East and Africa present more fragmented opportunities, dependent on individual country regulations and the evolution of the gambling sector. The prominent companies listed – William Hill, Coral, Ladbrokes, Betfair, and others – compete fiercely, constantly innovating their offerings to attract and retain customers within a rapidly changing digital landscape. Long-term success hinges on effectively balancing regulatory compliance with the evolving needs and preferences of a diverse global customer base.

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 34.4 million British pounds. The British Horseracing Authority is the regulatory authority for horse racing in Great Britain. In 2016, there were 352,900 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.

Between April 2023 and March 2024, turnover from betting on horses amounted to roughly three billion British pounds, which was the largest share of turnover that year from off-course betting. However, this figure was a decrease over the previous year, when turnover from horse racing totaled 3.34 billion British pounds.

The statistic shows an economic assessment of the British horse racing industry in 2012. About 138 million pounds came into the industry from the raceday segment.

The statistic depicts the employment of the British horse racing industry in 2012. The horse racing's core industry, comprising those directly involved in the day-to-day running of the sport, employed 17,400 full-time equivalents.

This statistic displays the plan of the total expenditure of the British Horseracing Authority (BHA) in United Kingdom (UK) from 2015 to 2019. In 2018, the BHA has planed a total expenditure of roughly 33.9 million British pounds. The British Horseracing Authority is the regulatory authority for horse racing in Great Britain. In 2016, there were 352,900 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.

The statistic displays the total amount of prize money of horse races in Great Britain from 2011 to 2016, by type of race. In 2015, the total amount of prize money from jump races in Great Britain was approximately 42.4 million British pounds. More information about equestrian sports in the UK can be found in the Dossier: Equestrian sports in the United Kingdom.

This statistic displays the total number of people who attended horse racing events in Ireland from 2012 to 2020. While in 2012 a total of approximately 1.19 million people attended a horse racing event, attendance gradually increased over the time period, reaching roughly 1.31 million attendees in 2019. In keeping with government COVID-19 guidelines, attendances were severely curtailed for most of 2020. In 2021 there were 231 thousand people that attended horse racing events in Ireland. Further information on equestrian sports in the UK can be found in the Dossier: Equestrian sports in the United Kingdom

The statistic displays the distribution of investigations by the British Horseracing Authority in Great Britain from 2015 to 2016, by category. In 2015, 17 percent of investigations by the British Horseracing Authority were investigations into betting corruption and inside information trading. 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 abandonments of horse racing fixtures in accordance with the British Horseracing Authority in Great Britain from 2011 to 2016, by type. In 2015, 34 jump races were abandoned in Great Britain. More information about equestrian sports in the UK can be found in the Dossier: Equestrian sports in the United Kingdom.