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Horse racing is known as the second biggest spectator sport amongst Great Britain’s locals. The rise of sportsbook availability, live streams to watch horse races in real-time, and other modern statistics have lent to the spectator sport’s continued success throughout the United Kingdom.
You can engage in online sports betting for horse races in many different ways. Let's delve deeper into the 2024 statistics and trends for online horse racing betting in the UK and discover some of the best ways to profit:
Demographics:
Popular Betting Types:
Impact of Mobile Betting:
Winnings vs. Losses (Data Availability):
Sources for Statistics:
A Brief History of Horse Race Betting in the United Kingdom
Under the rule of King James I in Great Britain, horse race betting grew prevalent in the earlier portion of the 1600s where bettors made wagers on the order in which the horses would finish the races.
Later in the 18th century and 19th century, horse racing transformed into more of an organized sport.
Fast forward to the present day, well-known horse races in the United Kingdom like the Epsom Derby on the first Saturday in June annually and the Grand National races in Liverpool in either the latter part of March or early April, bringing horse racing betting enthusiasts to the racing stadium and online to place wagers.
Live Streaming Trends
If you cannot make it to the horse races in person or watch it on a live television broadcast, you can now tune into live streaming on your chosen bet platform or another approved source.
The increase in live streaming trends is making it easier for bettors to spectate horse races in real-time to make any last minute wagers with in-play betting rather than taking the risk to make a futures or ante-post bet before the race even begins.
Online Sports Betting Is Expected To Have An 8.3% Increase
The total revenue for online sports betting is projected to reach $4.56 billion in 2024, which is an expected 8.3% increase in earnings compared to the revenue generated in 2023. With a compound annual growth rate (CAGR) of 4.53%, the market is expected to generate a volume of $5.69 billion by 2029.
The sport type that is labeled “Other” on a segmented graph on Statista that displays how much was made from each sport shows about $1.7 billion in earnings. Horse racing is not in the original list of sport segments, so it can be inferred that some, if not all, of this figure could have been generated from horse racing bets.
Horse Race Betting Turnover Was Almost 120 Million British Pounds In 2022
Horse race betting turnover accumulated 119.29 million British pounds in the United Kingdom in 2022. About 12 years earlier, horse race betting turnover was at an industry high of 282.99 million British pounds.
Inflation and other economical changes influenced the huge change in the turnover value over the past decade, but it looks like the turnover is back on a steady up and up as the economy continues to improve and punters gain more access to disposable income again after a rebound from a downturn in the nation's economy.
Conclusion
Horse racing continues to be a widely spectated sport, especially in the United Kingdom. Between the surge in online sports betting popularity throughout the country and the Brits’ level of disposable income, betting on horse racing is still a favorite pastime amongst the locals.
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