Horse and Dog Racing in Australia Industry Market Research Report Now Updated by IBISWorld

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Horse racing and greyhound racing have been fixtures of Australian sporting culture for a long time. However, the Horse and Dog Racing industry in Australia is facing some trouble. Over the next five years, revenue is expected to decline due to the decreasing popularity of race wagering and consequently the sport overall. For these reasons, industry research firm IBISWorld has updated its report on the Horse and Dog Racing industry in Australia.

IBISWorld Market Research

IBISWorld Market Research

Falling attendance and tighter regulations threaten revenue growth

Horse racing and greyhound racing have been fixtures of Australian sporting culture for a long time. However, the Horse and Dog Racing industry in Australia is facing some trouble. In 2007, equine influenza (EI) hammered horse racing in Queensland and New South Wales, where a number of races were called off due to heavy quarantine restrictions. According to IBISWorld industry analyst Craig Shulman, “this halted the entire spring racing carnival in these regions, which was devastating for several industry participants”. After months on the sidelines, the Horse and Dog Racing industry in Australia returned to normal. By March 2008 Australia was declared EI-free and the industry began to recover. Although this remains the case, the industry will still feel the effects of EI, with tighter government restrictions resulting in fewer quality horses entering Australia, thus affecting betting revenue and attendance figures.

Growth for the Horse and Dog Racing industry in Australia has been constrained by the economic slowdown of 2008-09, which resulted in tighter spending patterns by Australian consumers. The slow recovery has led the industry to grow by an annualised 3.2% over the five years through 2012-13. Industry revenue is expected to increase by 2.1% in the current year. Shulman adds, “compounding the industry's woes is the debate regarding the fate of jumps racing”. Steeplechase horses have a high rate of injury (at which point many are put down) and there is a strong moral push against it.

Over the next five years, revenue is expected to decline due to the decreasing popularity of race wagering and consequently the sport overall. The top four companies in this industry are Racing Victoria, Australian Turf Club, Victoria Racing Club, and Racing and Wagering Western Australia. Moves towards greater prevalence of major events are raising the level of market share concentration. In terms of prize money, the industry is dominated in the training area by a few professional trainers. Most trainers receive little or no prize money. In the clubs area, the Principal Racing Clubs and control organisations set the rules and regulations for racing in the state in which they are located.

For more information, visit IBISWorld’s H orse and Dog Racing report in Australia industry page.

Follow IBISWorld on Twitter: http://twitter.com/#!/ibisworldau

IBISWorld industry Report Key Topics

Horse and dog racing operators run racing and training facilities. Horse racing includes racing horses that are ridden or pull a vehicle. Breeding, wagering and other ancillary services are not included in this report.

Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
International Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalisation
Major Companies
Operating Conditions
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
Key Statistics
Industry Data
Annual Change
Key Ratios

About IBISWorld Inc.
Recognised as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every Australian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Melbourne, IBISWorld serves a range of business, professional service and government organisations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com.au or call (03) 9655 3886.

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Gavin Smith
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