Gone to the dogs: Weak demand conditions are forcing smaller operators out of the industry

Horse and greyhound races are fixtures of Australia's sporting culture and the annual Melbourne Cup is the highlight of the Horse and Dog Racing industry. However, industry participants have faced challenges over the past five years. Declining racing attendance numbers and rising interest in alternative forms of entertainment and gambling have affected industry operators over the period. Racegoers have continued to enjoy marquee events, such as the Melbourne Spring Racing Carnival. However, ticket sales and revenue from other thoroughbred, harness and greyhound races have declined over the past five years.The increasing popularity of sports betting sites that are accessible on a range of different platforms has also reduced the share of gambling expenditure on racing...read more.

Industry Statistics & Market Size
Annual Growth 13-18
Forecast Growth 18-23

Industry Threats & Opportunities

  • Rising interest in alternative gambling and entertainment has reduced industry revenue
  • Several Australian trainers were involved in illegal administering of cobalt to their horses
  • Poor thoroughbred, harness and greyhound racing attendance is forecast to reduce industry revenue
  • Industry Report - Industry Key Buyers Chapter

    The Horse and Dog Racing industry displays low market share concentration. The industry's four largest players are estimated to account for under 40% of total revenue. The size of industry participants can vary significantly depending on their main operations. The industry's largest players are principal racing authorities and large race clubs. Other racetrack and race club owners, particularly in small country towns and regions with smaller populations, generate far less revenue than these major players. Several professional animal trainers dominate the training segment. Smaller scale trainers generally operate as non-employing sole proprietors and receive little prize money...purchase to read more.

    Additional Insights for the Horse and Dog Racing Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Horse and Dog Racing Industry are

  • Ability to attract local support/patronage
  • Having a high profile in the market
  • Having a good technical knowledge of the product
  • IBISWorld analysts also discuss how external factors such as Demand from gambling activities and Average weekly hours worked in the Horse and Dog Racing industry impact industry performance..

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    What's in this report

    What is the Horse and Dog Racing Industry?

    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.

    Industry Products
  • Racing authority operation
  • Racehorse and race dog ownership
  • Racetrack and race club operation
  • Racehorse and race dog training
  • Industry Activities
  • Dog racecourse or racetrack operation
  • Horse racecourse or racetrack operation
  • Racing authority or board operation
  • Race dog ownership
  • Racehorse ownership
  • Race dog training
  • Racehorse training
  • Racing kennel operation
  • Racing stable operation
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Demand from gambling activities
  • Average weekly hours worked
  • TV density
  • Per capita gambling expenditure

  • Current Performance
  • Revenue and profitability
  • Industry structure
  • Cobalt scandal
  • Greyhound racing inquiry
  • Chart: Revenue Growth

  • Industry Outlook
  • Revenue and profitability
  • Gambling revenue
  • Consolidation
  • Table: Horse and Dog Racing Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Horse and Dog Racing Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Horse Farming
  • Horse and Sports Betting
  • Free-to-Air Television Broadcasting
  • Pay Television
  • Consumers

  • Key Selling Industries
  • Horse Farming
  • Veterinary Services

  • Products & Services
  • Racing authority operation
  • Racehorse and race dog ownership
  • Racetrack and race club operation
  • Racehorse and race dog training
  • Chart: Horse and Dog Racing Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Betting agencies
  • Racetracks and race clubs
  • Racehorse and race dog owners
  • Other
  • Animal breeders
  • Chart: Major Market Segmentation for the Horse and Dog Racing Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Horse and Dog Racing

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Horse and Dog Racing Industry

  • Industry Globalization
    Victoria Racing Club Limited, Racing Victoria Limited, Racing and Wagering Western Australia, Racing Queensland Board, Australian Turf Club Limited,
  • Table: Victoria Racing Club Limited - financial performance
  • Table: Racing Victoria Limited - financial performance
  • Table: Racing and Wagering Western Australia - financial performance
  • Table: Racing Queensland Board - financial performance
  • Table: Australian Turf Club Limited - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Horse and Dog Racing Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Horse and Dog Racing Industry
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Golden Slipper
  • The richest race for two-year-old-horses, held in New South Wales and hosted by the Sydney Turf Club.
  • Microgram
  • A unit of mass equivalent to one billionth of a kilogram or one thousandth of a milligram.
  • Totalisator
  • The computerised system that runs bets and calculates pay-off odds. Gamblers are offered totalisator sports betting on various major Australian and international sporting events.
  • What Our Customers Say

    Why buy this report?

    The Horse and Dog Racing market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Horse and Dog Racing:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Horse and Dog Racing market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Horse and Dog Racing, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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