Growth in sports betting far outstripping racing - Australia

Recent figures released show that sports betting is increasing at 24 times the rate of horse race betting in Australia.
Horse racing's growth is being underpinned by a smaller number of punters betting more -- particularly since the arrival of Betfair.
Would your situation be similar there.
Saturday metropolitan race crowds have dropped from 10,000 (average) 20 years ago to about 4000 now, and mid week meetings are almost ghost meetings in many places here.
But prizemoney has steadily risen and as from 1 August in Melbourne all Saturday meetings carry a minimum prize of $A70,000 (abt R 500,000) with at least two races to carry $A100,000 (R750,000) prize.

Same trend in SA sorry to say

I was amazed that tonight the soccer 6 is on 6 matches in the Swedish league and the pool was well over R50,000..................bearting in mind,I would guess that not one punter has ever seen one of the sides play nor is there any TV coverage so they can't watch their bets.
The PA at Hamilton will probably be less than double that, but with every race on TV and form guides etc available
You would have thought that the racing would be a no-brainer!
That is indicative to me that it is not about the entertainment value as some would have us believe ..............its the fact that random punters trust other sports more than racing.

There is another aspect to this -- is that sports punter get a lot more entertainment for their bet.

The interesting thing is the huge volumes turned over by Betfair on some of the sporting contests. Many of the one day cricket matches and tennis matches are turning over $A30 million (about R225 m)

Sports betting is best by faaaar...too much graft in racing

My very point though, is that soccer beats racing in our country even when the entertainment aspect is nil !!!!!

No TV coverage on these matches at all.

have said on this forum many times,bookmakers business used to be nearly 100% horses 30 years ago in the uk,it`s now under 30%

From today's Brisbane Courier-Mail

THE Queensland racing industry's sustainability will be the centrepiece of a three-code review commissioned by Racing Queensland Limited.

Accounting giant Deloitte has issued an information paper that seeks feedback from racing industry participants to form part of its draft report.

The paper has collated some trends that will be disturbing to those involved in racing.

Some of the negative trends are in keeping with the downturn nationally and also in other sports competing for the discretionary dollar.

But Racing Queensland Limited chairman Kevin Dixon believes in a brighter future.

"While the overall industry in Queensland is in a less-than-desirable state, when financial times get better things can improve if we can get people to re-engage," Dixon said.

"The information paper confirms a decline in wagering and attendances since 2006.

"The equine influenza shutdown didn't help. That cost the industry support, which hasn't come back.

"Secondly, the previous administration took total control away from the industry. People felt disenfranchised and we now have to try to find a way to get them back.

"They have to be enabled to become involved again."

In the thoroughbred code, wagering on the tote - which provides by far the best return to racing - has declined by 24 per cent since 2006.

In that time, fixed-odds betting - admittedly coming off a low base - has grown by 2130 per cent.

Prizemoney in Queensland has declined by 4 per cent in total and by 13 per cent at non-TAB meetings.

Deloitte notes there are 124 thoroughbred clubs in Queensland, but only eight venues generate the vast majority of industry returns, which in turn supports prizemoney for all clubs.

Since 2006 bookmaking wagering on course has declined by 43.8 per cent.

This figure makes it even more apparent why RQL has taken the decision to abolish fielding fees to encourage retention of on-course bookies at all state racetracks.

If there are no fielders at country meetings there is a significant disincentive for patrons to attend where there is no pari-mutuel tote operating on the local races.

In the 2010-11 financial year the wagering splits for Queensland thoroughbred racing were: pari-mutuel 69.9 per cent; fixed odds 22.8 per cent; and bookmakers 7.3 per cent.

Most disturbingly, attendances at race meetings have declined by 13 per cent during the past six years.

In the EI-ravaged 2010-11 season, crowds fell by 38.6 per cent and only recovered by 16 per cent the following year.

Deloitte has posed the question: "Are there ways to improve the utilisation of assets?"

Hopefully, that is one of the key factors in getting racing back on to a better financial footing.

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