Press release
Global Horse Racing Market Projected to Surpass $10.5 Billion by 2029 with 31.3% Annual Growth
Horse Racing
As online betting gains more traction, it is predicted to stimulate the expansion of the horse racing industry. Online betting, which involves making bets on sports, casino* games, or other events through websites or smartphone applications, has been growing due to its ease of use, accessibility, and the plethora of betting options available at all times. Horse races, with their frequent occurrences, various betting choices, real-time data, and massive bet volumes, amplify online betting by increasing participation and income. To illustrate, data from HM Revenue & Customs reveals that from April to June of the 2024-2025 fiscal year, the aggregate of betting and gaming proceeds in the UK stood at $1,110.98 million (£884 million). This represents a rise of $21.37 million (£17 million), or 2%, over the corresponding quarter of the preceding fiscal year. This surge in online betting thus fuels the horse racing industry's growth.
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How will the growth rate of the horse racing market shape industry trends by 2034?
The size of the horse racing market has seen a substantial escalation in recent years. It is projected to increase from $387.90 billion in 2024 to $423.94 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 9.3%. The growth in this historic period can be ascribed to factors such as the rise in the popularity of online betting, the surge in sponsorship and investment, the escalation in high-profile events, an increase in the count of international events, and the growing demand for digital platforms.
In the upcoming years, the horse racing market is predicted to experience robust growth, with projections showing it will reach $599.52 billion by 2029, expanding at a compound annual growth rate (CAGR) of 9.0%. The increased growth in the forecast period could be due to the burgeoning online betting scene, a growing worldwide fascination with equestrian sports, a rise in disposable income allowing for more leisure spending, increased regulation by government on betting and racing operations, and the growth in sponsorship and media rights income. Key trends for the projected period consist of the incorporation of sophisticated data analysis for performance improvement, the use of virtual reality for a more interactive fan experience, the creation of wearable tech for monitoring horse's health, the use of AI-powered betting platforms, a higher reliance on green energy on racetracks, and branching out into virtual and online racing events.
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What are the most significant trends transforming the horse racing market today?
Key corporations in the horse racing industry are shifting their focus towards technological upgrades, such as digital betting platforms, as a means to improve betting interaction, enhance clarity, and draw in a wider audience. The Online wagering platforms facilitate users to engage in bets across diverse activities such as sporting events, casino* trials, and esports competitions. Take, for instance, DraftKings Inc., a company renowned for sports wagering based in the United States, unveiled the DK Horse app in March 2023. The platform lets users gamble on horse races globally, offering live broadcasts, real-time betting odds, and an intuitive user interface. The app aims to provide an uninterrupted and captivating experience for horse racing enthusiasts and offers them an accessible medium to place bets and keep an eye on their preferred races. The advent of DK Horse signifies the escalating demand in the horse racing sector for digital wagering platforms.
Which primary segments of the horse racing market are driving growth and industry transformations?
The horse racing market covered in this report is segmented -
1) By Type: Win Bet, Each Way, Single Bet, Multiple Bets, Straight Forecast, Reverse Forecast, Tricast
2) By Revenue Stream: Betting Revenue, Live Event Revenue, Broadcasting Rights, Sponsorship And Advertising, Horse Sales And Breeding
3) By Application: Online, Racecourse, Lottery Store, Other Applications
Subsegments:
1) By Win Bet: Fixed Odds Win Bet, Pari-Mutuel Win Bet, Tote Win Bet, Exchange Win Bet
2) By Each Way: Fixed Odds Each Way, Pari-Mutuel Each Way, Enhanced Odds Each Way, Extra Place Each Way
3) By Single Bet: Win Single, Place Single, Show Single, Odds-On Single
4) By Multiple Bets: Double, Treble, Accumulator, Heinz, Super Heinz, Goliath
5) By Straight Forecast: Exacta, Straight Forecast, Tote Forecast, Fixed Odds Forecast
6) By Reverse Forecast: Reverse Exacta, Reverse Forecast, Combination Forecast
7) By Tricast: Trifecta, Straight Tricast, Combination Tricast, Boxed Tricast
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Which geographical regions are pioneering growth in the horse racing market?
North America was the largest region in the horse racing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the horse racing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the influential players reshaping the horse racing market landscape?
Major companies operating in the horse racing market are Bally's Corporation, Churchill Downs Incorporated, Betfair Group Limited, Woodbine Entertainment Group, The Jockey Club, Racing Victoria Limited., WinStar Farm LLC, Godolphin LLC, Juddmonte Farms Limited, Coolmore and Associated Stud Farms Limited., Keeneland Association Inc., Tattersalls Limited., Arrowfield Stud Pty. Limited, Experiential Squared Inc., AmWest Entertainment LLC, Spendthrift Farm LLC, Fasig-Tipton Company Inc., Hronis Racing LLC, Exacta Systems LLC., SF Racing LLC
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What Is Covered In The Horse Racing Global Market Report?
•Market Size Forecast: Examine the horse racing market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the horse racing market for a structured understanding.
•Key Players Overview: Analyze major players in the horse racing market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the horse racing market.
•Segment Contributions: Evaluate how different segments drive overall growth in the horse racing market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the horse racing market.
•Industry Challenges: Identify potential risks and obstacles affecting the horse racing market.
•Competitive Landscape: Review strategic developments in the horse racing market, including expansions, agreements, and new product launches.
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