Global Horse Racing Market size ,share & trends analysis report by type (Thoroughbred ,Harness, Quarter Horse ) By Betting Channel ( online ,offline ) By Audience (General Public ,HNWIs ,Tourists ) By Region (North America ,Europe ,Asia-Pacific ,Latin America ,Middle East & Africa ) ,2025-2030

Emerging Market Trends

Rise of digital betting platforms

The horse racing industry is undergoing a digital revolution driven by the rapid expansion of online and mobile betting platforms. The shift from physical bookmakers to digital interfaces has democratised access, expanded reach, and increased the frequency of user engagement. Countries like the U.K., Australia, and Japan have seen significant growth in mobile wagering, with Flutter Entertainment, Bet365, and TwinSpires dominating market share through dedicated horse racing apps.

• For instance, the British Horseracing Authority (BHA) reported a 17% year-on-year rise in online wagers in 2024, bolstered by live-streaming integrations and AI-driven personalised betting experiences.

Emerging markets like India and Brazil are also rapidly adopting digital platforms due to increased smartphone penetration and regulatory easing. As more racing events integrate digital infrastructure, the convenience and accessibility of mobile betting are reshaping the entire ecosystem.

Horse Racing Market Growth Factors 

Globalisation of racing events

Globalisation is a central force propelling the horse racing market forward. Flagship events such as the Melbourne Cup, Kentucky Derby, Prix de l'Arc de Triomphe, and Dubai World Cup attract elite horses, jockeys, and sponsors from across continents, catalysing global fan engagement and cross-border investment. International participation in premium races rose by 23% between 2021 and 2024, highlighting the growing interconnectivity of global racing circuits.

• For instance, the Dubai Racing Club revealed that its 2024 event featured horses from 15+ countries, attracting over 80,000 in-person attendees and 7.2 million livestream viewers worldwide.

Additionally, increased prize purses and sponsorships have fueled cross-border interest. The Saudi Cup 2025, the world’s richest horse race, offered a record USD 30.5 million purse, attracting unprecedented global participation. This globalisation drives infrastructure development, sponsorships, and regulatory alignment across jurisdictions, fostering a more unified and lucrative global racing ecosystem. As racing becomes more international in appeal and structure, it ensures long-term viability and enhanced investor confidence.

Market Restraint

Animal welfare and operational costs

While horse racing commands global interest, it faces increasing scrutiny over animal welfare and rising operational expenses, which could impede market expansion. Organisations such as PETA and the World Horse Welfare Foundation have intensified campaigns against unsafe racing practices, calling for stricter regulations and penalties for race-related injuries or deaths. Europe and Australia also tighten regulations around veterinary care, drug use, and post-racing rehabilitation, increasing compliance costs for racecourse owners and organisers.

Parallelly, maintaining racetrack infrastructure, elite jockey training, and veterinary oversight can be prohibitively expensive, especially for emerging markets. According to the International Federation of Horseracing Authorities (IFHA), annual racecourse maintenance costs rose by 7.8% globally in 2024, driven by inflation and higher feed, medical, and security costs. High costs and growing regulatory pressure could deter new entrants and limit expansion into budget-sensitive regions. These factors may continue to weigh on industry sentiment unless mitigated by proactive animal welfare policies, improved transparency, and advanced injury prevention technologies.

Horse Racing Market Opportunities

Tech-enhanced fan engagement and virtual racing

The integration of immersive technologies and gamified digital platforms presents one of the most promising opportunities for the horse racing market. Younger audiences, less engaged with traditional race formats, are increasingly drawn to AR/VR-enhanced viewing, virtual race simulations, and interactive mobile apps that offer fantasy racing, real-time statistics, and betting insights.

For instance, in November 2024, at Happy Valley Racecourse, the Hong Kong Jockey Club (HKJC) rolled out two next-generation fan venues: The Beat and Vantage. These spaces offer LED parade rings, AI-driven horse selection stations, interactive digital race cards, and social-infused environments such as bars and fine dining. Designed to attract younger, tech-savvy audiences, HKJC is piloting this immersive experience with plans to expand across its venues.

Virtual horse racing, where AI-generated races simulate real-life outcomes using historical data, has also gained popularity. Platforms like ZED RUN and Betfair Exchange report 30–40% YoY growth in virtual racing activity. These digital innovations broaden market reach and offer low-risk, high-engagement alternatives for users in regulated betting environments. By blending tradition with innovation, such tech-forward strategies create scalable monetisation avenues and position the sport for long-term cultural relevance and financial sustainability.

Type Insights

Thoroughbred racing is the dominant segment in the global horse racing market due to its prestigious legacy, high-stakes betting, and strong media presence. Iconic races like the Kentucky Derby, Royal Ascot, and Melbourne Cup are major global events that attract massive attendance and betting volumes. Thoroughbred racing has a well-structured regulatory ecosystem in most regions, backed by elite breeding, training, and jockey programs. Thoroughbred races are also central to international betting markets, contributing significantly to on-track and digital revenues. In 2025, countries like Japan, Australia, and the U.K. continue to host races with strong government support, encouraging tourism and foreign investment.

Betting Channel Insights

The online betting segment is experiencing explosive growth, driven by smartphone penetration, AI-powered betting analytics, and real-time streaming services. Companies like Flutter Entertainment, Entain, and Tabcorp have enhanced their digital platforms to include interactive features like live odds, cash-out options, and virtual reality race simulations. The COVID-19 pandemic fast-tracked digital adoption, and new legislations in countries such as India, Japan, and Brazil have made online betting more accessible and regulated. The integration of AI and blockchain ensures transparency and user trust. Coupled with mobile wallet integration and personalised user interfaces, the online channel captures tech-savvy youth and retains traditional bettors with easy access and lucrative loyalty schemes.

Audience Insights

The general public remains the largest consumer base for horse racing, driven by widespread cultural exposure, easy betting access, and affordable viewing options. Racing events have become more inclusive, with racetracks offering entry-level pricing, family-friendly events, and digital access. For instance, in 2025, the U.K.'s British Horseracing Authority (BHA) reported that 68% of ticket buyers were casual or first-time attendees due to public outreach campaigns and flexible ticketing models. Moreover, televised races and mobile streaming have broadened access, drawing millions of casual viewers globally. The general public also forms a key portion of online betting demographics, with easy account setup and micro-staking options lowering the entry barrier.

Regional Insights

Europe– Dominant region with 39% market share

Europe maintains its global horse racing market leadership, driven by its deeply rooted equestrian culture and strong regulatory frameworks. The U.K., France, and Ireland form the triad of dominant players. According to Horse Racing Ireland, the Irish racing industry generated €2.46 billion in 2024, directly supporting over 30,000 jobs. Flagship events like Royal Ascot and Prix de l’Arc de Triomphe attract elite racehorses and international tourists and boost local economies through hospitality and media rights. European governments have been actively supporting modernisation. This blend of tradition and innovation ensures Europe retains the lion’s share of global revenue, viewership, and breeding influence.

Asia-Pacific– Fastest-growing region

Asia-Pacific is the fastest-growing market due to better digital infrastructure, relaxed betting regulations, and rising interest in sports and entertainment among the middle class. Countries like Japan, Hong Kong, South Korea, and Australia already have strong horse racing industries. Emerging markets such as India, China, and the Philippines are also seeing increased activity. The Asian Equine Investment Forum in Singapore is expected to boost growth by encouraging partnerships in racing infrastructure, horse breeding, and digital technologies. These developments reflect a growing regional interest in making horse racing more modern, accessible, and globally competitive, especially through technology and international collaboration.

North America– Significantly growing with tech integration and a rich legacy

North America, led by the U.S. and Canada, plays a vital role in the horse racing ecosystem, offering a blend of historical prestige and modern technology. The Triple Crown races, Kentucky Derby, Preakness Stakes, and Belmont Stakes account for over USD 2.5 billion in annual cumulative betting and tourism revenue. The increasing integration of real-time race data, augmented betting systems, and gamified applications revives interest among younger audiences. Moreover, the U.S. Horse Racing Integrity and Safety Authority (HISA) mandates have standardised racehorse welfare and medication policies across states, elevating trust among participants and fans. These regulatory and technological strides are accelerating North America’s sustained growth.

Latin America– Traditional base with growing local leagues

Latin America’s horse racing market is evolving, driven by strong equestrian traditions in countries like Argentina, Brazil, and Uruguay. Argentina’s Hipódromo de Palermo and Brazil’s Jockey Club Brasileiro remain iconic venues, attracting regional bettors and tourists. The growing popularity of localised racing leagues and digital betting apps expands access to younger demographics. Government-backed reforms in Brazil to regulate online gambling are catalysing industry modernisation and attracting foreign operators. Moreover, international races hosted in Argentina now receive broader digital broadcast coverage, boosting visibility. Strategic investments in racetrack upgrades and regional betting integration platforms are helping Latin America carve a more defined role in the global horse racing ecosystem.

The Middle East and Africa– Emerging luxury racing hub

The Middle East and Africa region, led by the UAE and South Africa, is rapidly gaining global recognition in the horse racing market. The Dubai World Cup, with a prize pool of USD 30.5 million in 2025, remains one of the richest races worldwide, drawing elite horses and international media. UAE's government has heavily invested in equine infrastructure, breeding centres, and luxury racecourses like Meydan, positioning the region as a prestigious destination. South Africa, with historic venues such as Greyville and Kenilworth, is expanding its export-oriented breeding industry and domestic race calendar. Growing sponsorships, tourism, and state support, particularly from the UAE's Ministry of Economy and Tourism, propel the Middle East and Africa’s emergence as a luxury and competitive racing hub.

Company Market Share

The global horse racing market features racetrack operators, betting companies, media rights holders, and technology-driven wagering platforms. Key players focus on expanding digital presence, securing exclusive event rights, and leveraging data analytics to enhance user engagement and betting accuracy. Many firms invest in mobile apps, live-streaming capabilities, and cross-border partnerships to grow international audiences. The market remains highly competitive, with consolidation among traditional racetrack owners and new entrants targeting online betting ecosystems.

Churchill Downs Inc.: Churchill Downs Inc. (CDI) is a major North American horse racing player, operating iconic tracks like Churchill Downs (home of the Kentucky Derby) and managing online wagering platforms like TwinSpires. The company’s vertical integration model, spanning live events, media, and digital betting, allows it to dominate physical race hosting and online engagement. CDI has aggressively invested in technology, racing infrastructure, and high-value events, contributing significantly to its revenue growth and brand positioning.

Recent Developments

• January 2025- ZED RUN reported significant traction in blockchain-based virtual racing. The platform hosted nearly 8 million races in 2024, processed 1.4 million entries, and paid over USD 6.8 million in winnings. A 260% spike in wallet activity and USD 2 million in dApp transactions within 30 days confirmed the platform’s rapid growth and the rising appeal of virtual racing experiences among digital-native bettors.
• October 2024- HKJC launched an AI-powered betting assistant within its mobile app. The tool offers real-time race data, personalised bet recommendations, and track condition alerts based on user behaviour. The innovation boosted engagement during the 2024 International Races Festival, underscoring growing demand for smart, data-driven wagering platforms.

Key Market Players:

1. The Jockey Club (U.S.)
2. Flutter Entertainment (U.K./Ireland)
3. Entain Group (U.K.)
4. Tabcorp Holdings Limited (Australia)
5. Bet365 (U.K.)
6. TwinSpires (Churchill Downs Inc., U.S.)
7. Japan Racing Association (JRA)
8. Hong Kong Jockey Club (HKJC)
9. Woodbine Entertainment Group (Canada)
10. Betfair (Ireland)
11. Paddy Power (Ireland)
12. Betway Group (Global)
13. TVG (FanDuel Group, U.S.)
14. France Galop (France)
15. Sportsbet (Australia)