Sidetracked: Revenue has steadily fallen due to competition from alternative gambling

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. Additionally, 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 more.

Industry Statistics & Market Size
Annual Growth 14-19
Forecast Growth 19-24

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 constrain revenue growth
  • Industry Report - Starting a New Business Chapter

    The Horse and Dog Racing industry is characterised by a medium level of barriers to entry, which has remained steady over the past five years. Enter barriers can vary significantly depending on the main services that participants provide. For example, there are few entry barriers to become an animal trainer, mainly registration and licences with racing clubs and capital outlay required to own racehorses and greyhounds, which can be prohibitive for some prospective operators that are seeking to enter this segment. Greater barriers exist for race club operators, as racing authorities must approve the new club and acquiring the land necessary to establish racetracks can also be extremely difficult. In ...purchase to read more.

    Additional Insights for the Horse and Dog Racing Industry

    IBISWorld has determined the most important Key Success Factors for the Horse and Dog Racing 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
  • Wagering landscape
  • 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 markets
  • 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 (2010-2024)
  • Industry Gross Product (2010-2024)
  • Establishments (2010-2024)
  • Businesses (2010-2024)
  • Employment (2010-2024)
  • Wages (2010-2024)

  • 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.
  • Point Of Consumption Tax
  • Taxation on net wagering revenue, based on the registered address of the bettor. These taxes are mostly applicable to online betting.
  • 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?

    IBISWorld’s Horse and Dog Racing market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

    IBISWorld industry market research reports enable you to:
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    • Identify threats and opportunities
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    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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