Is Horse Racing Betting Still Popular In Europe?

When people think of European betting habits today, many imagine flashing online slots or sports betting apps. But let’s not forget the old heavyweight of the gambling world: Horse racing.

Horse racing was one the crown jewel of betting culture, and has been around for centuries, shaping traditions, livelihoods, and even tax systems across Europe. But it seems like horse racing betting has been losing its pace over the last couple of years.

So, the question is, in an era where you can bet on literally anything from football to slots, and even reality shows, is horse racing betting still popular in Europe?

Well, the short answer is YES. Horse racing betting is still quite popular in Europe, but the situation is more complicated than you’d think. So let’s dive deeper into the horse betting market in the EU, and find out how this industry has been performing recently.

The Numbers Behind the Popularity

One thing is for sure; horse racing continues to account for a significant slice of Europe’s gambling activity. But the gambling revenue share depends on multiple factors, such as location. In other words, horse racing isn’t as popular in Romania as it is popular in the UK, so it is obvious that we will see different betting patterns.

In some of the countries like the UK, France, and Ireland, where horse racing is most popular, we can see a nearly 40% revenue share in the betting markets. Last year, the UK alone generated close to 2 billion dollars in horse racing betting, which shows that the sport is still relevant and popular among bettors.

Europe has some of the biggest horse racing events in the world, and these events (like the Cheltenham Festival or the Grand National) generate hundreds of millions in bets over four days each year. We can even see some of Europe’s top horses participate in big championships abroad, like the Breeders’ Cup.

To check the list of previous Breeders’ Cup winners and best times, click here: https://www.twinspires.com/breeders-cup/winners/

In other words, horse racing isn’t on life support. It is still here, it is still relevant, and people still place bets.

Why Betting Matters So Much to Racing

The question is, why is horse racing so popular in Europe? Well, in order to understand this long-lasting trend, we have to look beyond the wagers themselves. Betting is the financial backbone of the industry, which is used to find prize money, pay for training, support breeders, and sustain tens of thousands of jobs.

In the UK, the industry employs around 85,000 people directly and indirectly connected to the horse racing industry. When the government recently proposed raising the remote betting tax from 15 to as high as 25 percent, industry experts warned that this means that they could lose up to 330 million pounds from the sport in the next five years. This fear triggered one of the biggest strikes we’ve seen in the horse racing industry, where all of the races stopped for a day.

If the tax rises, people involved with the sport won’t get the same money. In other words, the rise in taxes can negatively impact the money circulating in the sport.

Yes, the betting part is the lifeblood of the sport, and if there is no betting, the sport wouldn’t survive. So, all of that history, tradition, and heritage will go down in history if the betting action starts declining.

The Digital Transformation of Betting

Then we have the digitalization of the horse racing betting industry, which is booming at the moment. Europe’s betting market evolved, and horse racing needed to change something in order to stay relevant.

Fortunately, horse racing is a sport that adapts to certain changes easily, and nowadays, the sport is fully digital. In other words, people can find some of Europe’s top racing events and place bets online. That’s why almost half of all horse racing bets in Europe are now placed online.

This is very important for a sport like horse racing in order to stay relevant. After all, we are witnessing the change of generations, and younger and tech-savvy audiences are more likely to watch a sport if they can do it digitally.

If we analyze Europe’s online horse racing betting market, we can see that many sportsbooks offer horse racing betting, which suggests that the sport is still strong in terms of presence.

Is the Picture The Same Across Europe?

As we mentioned earlier, not every country has the same level of horse racing betting. Popular places like the UK, Ireland, or France are proper horse racing betting powerhouses. But for the rest of Europe, the situation isn’t really good.

But this has nothing to do with the betting industry. Horse racing as a sport is very saturated in certain places. For example, places like Estonia, Slovenia, Serbia, Macedonia, Greece, Norway, and the Netherlands have small betting markets due to a lack of local horse racing culture.

I don’t see this changing anytime in the future, just because horse racing culture is something that is inherited and usually comes from generations ago. And for a country to get a sudden boost of horse racing popularity, it requires time and a lot of investment.

So, yes, for the majority part, Europe’s horse racing betting is popular, but there are certainly some places where it is almost impossible to place a horse racing bet locally.

A Sport That Adapts

What keeps horse racing alive is its ability to adapt. The industry has embraced virtual racing products, mobile betting apps, and more immersive streaming experiences to meet the demands of a modern audience.

Yes, younger generations may not head to the track every weekend, but this doesn’t mean that they aren’t placing bets. Since horse racing has gone digital, people are now placing bets and watching races online, which is why we get the sense that the betting market is reducing.

The good thing is that the sport has a proper infrastructure, and it is future-proof with all the new systems in place. Who knows, maybe we will see a rise in horse racing betting action in the next couple of years.