Horse racing is a globally cherished sport followed by millions of people worldwide. The global horse racing market has reached $402.3 billion in 2022 and is expected to double by 2030. More than 1.49 billion people followed horse racing competitions in 2020, and this number has grown significantly since that time.
It is the second-most popular spectator sport in the UK. This is the reason why online gambling companies have included horse racing in the range of sports to bet on. They are in constant search for strategies to attract more horse racing enthusiasts, and we are going to tell you about some of them!
The Enduring Charm of Horse Racing
Horse racing is a popular sport with a rich history that dates back to ancient times. The origins of this sport go back to the Greek Olympic Games in 700 BC. It has spread to other countries like China, Persia, and Arabia, as well as the Middle East and North Africa. Professional riders displayed to spectators the incredible speed of their horses and made this competition incredibly exhilarating to watch.
Modern horse racing fans admire the speed, strategies, and close connection between a rider and his horse that capture the hearts of the audience all around the world. They can follow many different events, such as the Kentucky Derby, Royal Ascot, Melbourne Cup, and many more. These events attract thousands of connoisseurs and impressive betting volumes, so now it is one of the most popular sports to visit and place stakes with rather attractive odds.
Tailored Welcome Promotions for Horse Racing Fans
Online betting makes up over 50% of all horse betting wagers nowadays. No wonder sports betting platforms look for effective solutions to attract more horse racing enthusiasts and offer them specifically designed casino welcome promotions for players. Bettors receive very profitable offers from bookmakers, including free bets on big races, deposit bonuses, and money-back specials.
These rewarding promotions look very attractive to newcomers, so a bigger number of bettors agree to sign up for the betting site to benefit from them. As a result, they get a more engaging and rewarding betting experience with access to the most popular horse racing events!
Impact on the Horse Racing Industry
Though it seems that only sports betting bonuses have the biggest impact on the horse racing industry, it is worth mentioning that targeted online gambling promotions influence it, too. These are some aspects of how bonuses and special offers from casinos and sports betting sites affect the horse racing industry.
- Sponsorship: any horse racing competition can be organized only if sponsors fund it. Online casinos that get revenue from players’ activity can invest money in the development of this sport and get more brand awareness and potential players thanks to advertising.
- Viewer engagement: many fans of horse racing want more than just watching the events. They also seek financial benefits from them. Online betting sites give this opportunity to everyone who is interested in horse racing and ready to place bets.
- The financial health of the sports: maintaining financial stability is crucial for every club, and thanks to the high revenue sources of online casino sites, it is possible to provide financial sustainability to any horse racing team.
Analyzing these benefits of the intersection between horse racing and online gambling, it seems there are only positive outcomes. However, online gambling and participation in promotions may lead to financial losses and possible stress connected with them. Therefore, it is important to be aware of responsible gambling practices.
Global Snapshot: Case Studies from Canada and Beyond
Horse racing is appreciated in many countries where online gambling is popular. Horse racing contributes £8 billion to the British economy annually. It is also a beloved pastime for many Canadians. Canada can boast a thriving horse racing industry with 32 venues and 34 horse tracks located mainly in Ontario and Alberta.
Today, it is a multi-million-dollar industry that also involves betting on horse racing events. Over 10% of Canadians bet on sporting events, and horse racing events take second place among them after football. Naturally, numerous bettors take an opportunity to participate in promotions and special offers from gambling sites to maximize their winnings and follow their favourite sports events.
The regulation of the online gambling industry depends on the province in Canada. The provincial government should license an operator for it to operate legally so online horse racing betting and gambling are not spread equally around the country. Top online gambling platforms operate in Alberta, British Columbia, Manitoba, New Brunswick, and others.
Navigating Ethical and Regulatory Waters
You can come across different opinions on whether it is ethical to promote betting on horse racing. Fans of this sport surely love the possibility not only to follow horse racing contests, but also to use their knowledge of this sport to get real-money rewards. However, it is necessary to understand the risks for vulnerable bettors who may lose control of finances spent on betting and experience all the downsides caused by problem gambling, too.
Another thing regarding ethics in promoting online gambling among horse racing bettors is connected with ensuring the integrity of sports. All sports participants should be a part of a safe, ethical, and inclusive environment. What is important, online gambling destinations should guarantee the same to all players as well.
It is important to remember that the promotion of gambling is not a problem if a focus is made on responsible gambling practices. At the same time, this promotion should not be too explicit or targeted at minors and vulnerable groups of people.
Conclusion
If you think that horse racing has nothing to do with online gambling, now you can see that these sectors are strongly interconnected. Thanks to the introduction of online sports betting and the launch of promotions for gamblers, the relationship between horse racing and casino promotions has been established and is constantly evolving thanks to technological advancements and the extension of the regulatory policies in many countries.
