Industry Analysis & Industry Trends
The Horse and Sports Betting industry has undergone significant change over the past five years. Private betting websites have gained a greater foothold in the market due to changing consumer preferences and the improved accessibility of betting websites. Increasing horseracing attendances, household internet connections and spectator sport participation have also contributed to the industry's positive performance. As a result, revenue is estimated to increase at a compound annual rate of 2.0% over the five years through 2014-15. Demand for other gambling activities has slightly restricted revenue growth, as other activities such as casino games and electronic gaming machines have been competing for gamblers' discretionary dollar... purchase to read more
Industry Report - Industry Products Chapter
The Horse and Sports Betting industry offers a range of products and services, primarily based on the type of event consumers can bet on, the type of bet they can place and where bets can be placed. Industry services are divided based on the proportion of revenue that each segment is projected to generate.
Horserace betting at TABs
Wagers placed on horseraces at TAB outlets are the largest segment in the industry. Horserace betting generally uses parimutuel betting, where payoffs are only determined once all bets have been placed, normally when the race starts. As a result, payoffs are determined after the race, based on the total amount wagered and the number of successful bettors... purchase to read more