First-Half Numbers Show Gains in Ireland
Description:
Horse Racing Ireland July 14 reported generally positive economic indicators for the industry in the first half of 2016.
Off-course betting on Irish racing through Tote Ireland was up 39.5% to €36.4 million compared with the same period in 2015, while on-course wagering through the tote dropped 5.9% to €4.8 million. Bets made through on-course bookmakers fell 9.8% to €31.3 million.
"Overall tote betting continued its trend of double-digit growth in recent times," HRI chief executive Brian Kavanagh said in a release. "As well as rising turnover in traditional markets, particularly Britain, Irish pools have been boosted by growth in other international markets, most notably the U.S. and Israel.
"From a product perspective, growth has been most notable in win betting, which has increased 38%, and also Pick 6 betting, which has increased 205%. More international customers are taking note of the substantial daily guarantees and outstanding returns offered on this pool by Tote Ireland."
Total purse money increased 6.5% to €25.5 million, and race sponsorships were up 8% to €3.2 million. The number of individual horses that earned purse money increased 16.7% to 2,930 for the first half of the season, according to the HRI statistics.
"We have extended prize money down to fifth-place in all races this year, and as a consequence the number of runners winning prize money has risen by 17%," Kavanagh said. "The increase of 8% in race sponsorship is also very pleasing as we have been working with the racecourses to target sponsorship of feature races across as many race meetings as possible."
HRI statistics also show that average field size for flat races increased from 9.9 last year to 10.5 this year; average attendance at race meets remained flat at about 3,300; total horses in training increased 4.5% to 7,024; and the number of new owners increased by 10.7% to 382.