Industry Analysis & Industry Trends
Horseraces and greyhound races are fixtures of Australia's sporting culture. Horseracing is the only sport that warrants public holidays in various states, culminating in November's Melbourne Cup, the jewel of a $1.5 billion industry. However, industry participants have faced an array of challenges over the past five years. In August 2007, equine influenza (EI) threatened thoroughbred horseracing in Queensland and New South Wales, where several races were called off due to heavy quarantine restrictions. Although EI occurred outside the current five-year period, its after-effects have had a lasting impact on the industry.
Stagnant racing attendances and a rising interest in alternative forms of gambling have also affected the industry over the past five years... purchase to read more
Industry Report - Industry Locations Chapter
A large proportion of industry activity occurs in Victoria and New South Wales. Victoria in particular is known for its popular racing events such as the annual Spring Racing Carnival, which focuses on the Melbourne Cup. Harold Park Racetrack, the premier track in New South Wales, is well known for its rich harness race, the Miracle Mile. These events attract large attendances, contribute to enormous wagers, and generate prize money for both animal owners and trainers. In 2012-13, the winner of the Emirates Melbourne Cup received $3.6 million, with a $6.0 million in total distributed as prize money.
The major racing clubs in Victoria are the Victoria Racing Clubs, Melbourne Racing Club and Moonee Valley Racing Club. Country racing is also prevalent in Victoria... purchase to read more