Horse and Dog Racing in Australia - Industry Market Research Report

All the bettor: Returning crowds and the shift to online gambling keep rising revenue a safe bet

The Horse and Dog Racing industry has weathered the storm of the COVID-19 pandemic, benefiting from a surge in wagering turnover through the growing popularity of online betting platforms. Nevertheless, the industry has faced serious challenges over recent years, with some segments of the industry faring better than others. Attendance at racing events is declining, as a growing proportion of punters are choosing to bet from home, rather than attend the races. The COVID-19 pandemic accelerated these trends, as lockdown measures prevented race day attendance and sharply reduced ticketing and hospitality revenue. Many consumers shifted to online betting platforms while in-person venues were closed. Industry profitability has declined over the period, as the industry expended significant costs to keep races running throughout the pandemic. These efforts proved beneficial, as wagering revenue surged during lockdown periods, contributing to overall revenue being expected to grow at an annualised 2.0% over the five years through 2022-23, to $3.9 billion. This includes an anticipated rise of 1.9% in 2022-23, as crowds return to the races.

Industry companies administer horse and dog racing activities, or operate horse and dog racing venues. Firms that operate horseracing stables or dog racing kennels, own racehorses or greyhounds, or provide related training services are also included in the industry.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.