Industry Analysis & Industry Trends
The Horse and Sports Betting industry has undergone significant changes 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 these websites. Increasing internet penetration and spectator sport participation have contributed to the industry's positive performance. As a result, revenue is expected to increase at a compound annual rate of 2.2% over the five years through 2015-16. Demand for other gambling activities has slightly restricted revenue growth, as other activities such as casino games, lottery products and electronic gaming machines all compete for gamblers' discretionary income.
In 2015-16, industry revenue is set to rise by 2.2%, to reach $3.5 billion... purchase to read more
Industry Report - Industry Products Chapter
Industry operators offer a range of services, which are 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 generates.
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. Parimutuel betting also allows for simple or straight betting forms such as wins, places and shows... purchase to read more