There is no doubt that horse racing is one of the oldest sports globally. We can see traces of the sport that date back to Ancient Greece at the Olympic Games and before that. However, the first modern horse racing that is very similar to what we are watching now began in the 18th Century.
The sport first started in England but quickly spread to other parts of the world like France and the United States.
Therefore, what makes this sport so unique? So, apart from its rich tradition that circulates in the blood of many generations, horse racing is also exhilarating to watch. The fast-paced 2-minute action attracts the attention of millions of fans worldwide as they see close races to the finish line.
However, the biggest reason for the popularity of the sport is betting. It is hard to imagine horse racing without betting, just because it was the primary purpose of the sport.
Over the last couple of years, the horse racing industry has experienced a rise in annual wagering numbers. This industry managed to gain popularity even though we see fewer races every year.
The rise of the horse racing industry
Since 2009, the total number of official races has declined by 30%, and yet, we’ve seen an increase in the total wagering year by year. This means that the sport is growing and more people are interested in watching horse racing events.
The total wagering reached 12.2 billion in 2021, which is close to a 12% increase over 2020. This is even more impressive considering that the industry faced difficulty last year due to the pandemic.
Additionally, the total U.S purses exceeded an eye-watering $1.1 billion, more than a 35% increase over the previous year. The average purses per race day increased 10% and are just shy of $300,000.
Despite the decrease in races in the last decade, it is safe to say that finally, we see more race days in total compared to 2020, jumping up more than 20%.
Why is horse racing becoming more popular?
There are several good reasons for which horse racing is very popular, even in the times of pandemic. Few of such reasons are described below.
Horse races are social events
Compared to other sports, horse racing is different in many ways. One of them is that horse racing is a glamourous event where high fashion, tradition, and big money are met in one place.
In other words, horse racing is exhilarating to watch for the viewers, especially if they attend a race. Usually, race days last 1-3 days where horse racing enthusiasts can interact with other people with similar interests, learn more about horse racing, and enjoy a drink while cheering for the horse they wagered on.
The biggest event is the Kentucky Derby, which happens in Louisville again on the 7th of March. You can learn about Kentucky Derby 2022 here.
The results are fast
One of the reasons people love watching and betting on horse races has a lot to do with the fast results. On average, races last no more than 13 seconds, and the results and the winnings are quickly revealed.
Compared to other sports where you have to wait for at least an hour for the result, horse racing speeds up the process, which is great for betting.
Availability of the sport
As mentioned before, horse racing started in England and spread to other countries like the US, Japan, and France. However, other parts of the world were isolated from the sport, and fans couldn’t enjoy races and place bets.
Nowadays, many more races and other countries are starting to get involved with horse racing by building racecourses and organizing horse-racing events.
On top of that, horse racing betting is now much more available to the average person, thanks to the online betting industry. Now we have websites like TwinSpires that offer horse racing betting services globally.
Information availability
Last but not least, we have more and more media websites and sports news that track horse racing results. This means that information about the sport is now available to everyone, and they can easily use that information to make wiser bets.
Can you imagine betting on horses without knowing too much about the participants, trainers, track, and previous races? – It would be impossible to make a wise betting decision.
Fortunately, now all the information you can imagine is available one click away on the internet, making horse racing even more popular.
