$4.6bn
$XX.Xbn
23,155
2,287
$XXX.Xm
The Horse and Dog Racing industry has weathered the storm of the COVID-19 pandemic, benefiting from a surge in wagering turnover through the growing popularity of online betting platforms. Nevertheless, the industry has faced serious challenges over recent years, with some segments of the industry faring better than others. Attendance at racing events tanked, following longer-term trends of a growing proportion of punters opting to bet from home, rather than attend the races. The COVID-19 pandemic accelerated these trends, as lockdown measures prevented race day attendance and sharply reduced ticketing and hospitality revenue. Many consumers also shifted to online betting platforms while in-person venues were closed. Industry profitability has declined over the period, as the industry expended significant costs to keep races running throughout the pandemic. These efforts proved beneficial, as wagering revenue surged during lockdown periods, contributing industry-wide growth, which is expected to grow at an annualised 1.7% over the five years through 2023-24, to $4.6 billion. This includes an anticipated rise of 0.6% in 2022-23, driven by higher crowds at marquee events.
Industry revenue has grown at a CAGR of 1.7 % over the past five years, to reach an estimated $4.6bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 |
---|---|---|
Racing Victoria | 558.1 | |
Racing Queensland | 506.1 | |
Racing NSW | 443.0 |
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Industry revenue is measured across several distinct product and services lines, including Racing authority operation, Racehorse and race dog ownership and Racetrack and race club operation. Racing authority operation is the largest segment of the Horse and Dog Racing in Australia.
Racing authorities have capitalised on surging wagering revenue
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.
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ANZSIC 9121 - Horse and Dog Racing in Australia
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
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Including values and annual change:
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Key data sources in Australia include:
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The market size of the Horse and Dog Racing industry in Australia is $4.6bn in 2024.
There are 2,287 businesses in the Horse and Dog Racing industry in Australia, which has grown at a CAGR of 3.9 % between 2019 and 2024.
The market size of the Horse and Dog Racing industry in Australia has been growing at a CAGR of 1.7 % between 2019 and 2024.
Over the next five years, the Horse and Dog Racing industry in Australia is expected to grow.
The biggest companies operating in the Horse and Dog Racing market in Australia are Racing Victoria, Racing Queensland and Racing NSW
Racing authority operation and Racehorse and race dog ownership are part of the Horse and Dog Racing industry.
The company holding the most market share in Australia is Racing Victoria.
The level of competition is high and increasing in the Horse and Dog Racing industry in Australia.