Horse Betting Market 2025 Trends: Expected to Grow at a CAGR of 7.6% from 2023 to 2032, Claims AMR

Allied Market Research published a report, titled, "Horse Betting Market by Betting Type (Single and Multiple), Application (Online, Racecourse, Lottery, and Others), and Betting Volume (High and Low): Global Opportunity Analysis and Industry Forecast, 2023-2032.". According to the report, the global horse betting market was valued at $44.3 billion in 2022, and is projected to reach $91.2 billion by 2032, registering a CAGR of 7.6% from 2023 to 2032.

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The multiple segment to dominate the market in terms of revenue throughout the forecast period

By betting type, the single segment held the highest market share in 2022, accounting for around half of the global horse betting market revenue. The single segment is growing owing to its simplicity, familiarity, and ease of participation, as it offers a straightforward and easy-to-understand option for individuals to engage in horse race betting. The multiple segments, however, would showcase the fastest CAGR of 8.2% and is estimated to maintain its leadership status throughout the forecast period. Multiple segment is expected to boost in coming years due to its potential for higher returns, as combination of multiple selections into a single bet may result in substantial winnings if all selections are correct and as a result, this attracts bettors who seek larger pay-outs and increased profitability.

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The racecourse segment to maintain its leadership status throughout the forecast period

By application, the racecourse segment held the highest market share in 2022, accounting for more than one-third of the horse betting market share and is estimated to maintain its leadership status throughout the forecast period. The hosting of high-quality horse racing events along with features such as renowned trainers, jockeys, and top-tier horses has driven the growth of this segment. The online segment, however, would showcase the fastest CAGR of 9.2% during the forecast period. The widespread availability of internet connectivity, variety of betting options available on online platforms, and attractive bonus & rewards are significantly boosting the growth of the segment in the anticipated period.

The high-volume segment to rule the roost in terms of revenue throughout the forecast period

By betting volume, the low volume segment held the highest market share in 2022, accounting for more than half of the global horse betting market share. The low volume segment caters to the budget conscious customers as it aligns their wagering with available resources and also protects them from potential losses. The high-volume segment, however, would showcase the fastest CAGR of 8.5% and is estimated to maintain its leadership status throughout the forecast period. Consumers currently prefer to bet in higher volumes owing to the improved accessibility to comprehensive information on races, horses, and track conditions, which further empowers bettors to make informed decisions.

Europe to maintain its dominance by 2032

By region, Europe held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the market revenue and is likely to dominate the market during the forecast period. Consumers in Europe are embracing initiatives taken by the government to increase the regulation to safeguard their interest in horse betting. However, Asia-Pacific is expected to witness the fastest CAGR of 9.6% from 2023 to 2032. The interest in horse betting among the consumers along with the legalization of it in several countries has significantly driven the market growth in the region.

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Leading Market Players: -
Churchill Downs Inc.
MGM Resorts International
Boyd Gaming
Flutter Entertainment PLC
Entain, Kindred Group plc
OPAP S.A.
Tabcorp Holding Limited
New York Racing Association (NYRA)
Del Mar Thoroughbred Club

Know More- https://www.prnewswire.com/news-releases/horse-betting-market-to-reach-91-2-billion-globally-by-2032-at-7-6-cagr-allied-market-research-301915028.html

Country Reports We Have in this Industry:

• U.S. Horse Betting Market Opportunity Analysis and Industry Forecast, 2022-2032
https://www.alliedmarketresearch.com/u-s-horse-betting-market-A200697

• Mexico Horse Betting Market Opportunity Analysis and Industry Forecast, 2022-2032
https://www.alliedmarketresearch.com/mexico-horse-betting-market-A200698

• Canada Horse Betting Market Opportunity Analysis and Industry Forecast, 2022-2032
https://www.alliedmarketresearch.com/canada-horse-betting-market-A200699

• Europe Horse Betting Market Opportunity Analysis and Industry Forecast, 2022-2032
https://www.alliedmarketresearch.com/europe-horse-betting-market-A200700

• UK Horse Betting Market Opportunity Analysis and Industry Forecast, 2022-2032
https://www.alliedmarketresearch.com/uk-horse-betting-market-A200702

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This release was published on openPR.