United States and Europe Horse Racing Market Size By Product (Win Bet, Each Way, Multiple Bets), By Application (Online, Racecourse, Lottery Store), By Geographic Scope And Forecast

United States and Europe Horse Racing Market Size And Forecast

United States and Europe Horse Racing Market size was valued at USD 292 Billion in 2024 and is projected to reach USD 538 Billion by 2031, growing at a CAGR of 8.73% from 2024 to 2031.

Rising household incomes would certainly benefit the sector since consumers will have more money to spend on on-track services like food and beverages. The United States and Europe report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

United States and Europe Horse Racing Market Definition

The horse racing industry has retained its appeal for decades, with millions of spectators throughout the world. This multibillion-dollar market shows no signs of slowing down. Horse racing is one of the most popular spectator sports in the United States and the United Kingdom, coming in second only to football. The first horse races took place around 4500 BC, when nomadic tribesmen competed on domesticated horses. By the 12th century, English knights had found that breeding Arab stallions with English mares produced super-fast offspring. It wasn’t long before Kings and noblemen were privately betting on which horse could cover a certain distance the fastest.

Horse racing has thrived in the United States since the early 1900s, despite anti-gambling sentiment. The Kentucky Derby and the Cheltenham Festival draw large crowds. Horse racing is still popular because it allows bettors to bet on the outcome of a race even if they have no prior knowledge of the horses involved. Unlike football, where the outcome of a game is mostly determined by the players’ ability, horse racing includes an element of chance that adds to the thrill.

The odds for each horse can give bettors a good notion of which one is likely to win, but anything can change the outcome. Outsiders can win against all odds, while favorites can lose in the last hurdle. All of this, however, is contingent on real horses and jockeys competing in live events. Horses race even when the race is televised.

United States and Europe Horse Racing Market Overview

Some of the growth market drivers are growing disposable income to drive market growth. Rising household incomes would certainly benefit the sector since consumers will have more money to spend on on-track services like food and beverages. As disposable income rises, consumers prefer to spend more on discretionary goods and services, such as horse racing betting and other sector services. In the future years, per capita disposable income is likely to rise, creating an opportunity for the industry.

Furthermore, factors that impact the growth of the market such as lack of enforceable standards and inadequate regulation, and others. In terms of animal welfare, the horse racing industry is generally governed by state-based racing agencies. Self-regulation raises questions about monitoring and enforcement, especially in the lack of acceptable standards. Unfortunately, severe welfare issues can go undiscovered without independent examinations. Furthermore, incentives such as increased prize money for two-year-old races may encourage more intense training of juvenile horses, perhaps resulting in more injury factors.

United States and Europe Horse Racing MarketSegmentation Analysis

The United States and Europe Horse Racing Market is segmented based on Product, Application, And Geography.

United States and Europe Horse Racing Market, By Product

• Win Bet• Each Way• Multiple Bets• Straight Forecast• Reverse Forecast• Tricast

To Get Summarized Market Report By Product-

Based on Product, the market is bifurcated into Win Bet, Each Way, Multiple Bets, Straight Forecast, Reverse Forecast, and Tricast. Win Bet accounted for the largest market share in 2021, with a market value of and is projected to grow at a CAGR of 8.45% during the forecast period.

United States and Europe Horse Racing Market, By Application

• Online• Racecourse• Lottery Store• Others

To Get Summarized Market Report By Application-

Based on Application, the market is divided into Online, Racecourse, Lottery Store, Others. Racecourse accounted for the largest market share in 2021 and is projected to grow at a CAGR of 8.78% during the forecast period.

United States and Europe Horse Racing Market, By Geography

• United States• Europe

To Get Summarized Market Report By Geography- 

On the basis of regional analysis, the United States and Europe Horse Racing Market is classified into United States, and Europe. Europe accounted for the largest market share in 2020 and is projected to grow during the forecast period.

Key Players

The “United States and Europe Horse Racing Market” study report will provide valuable insight with an emphasis on the market including some of the major players such as Arena Racing Company, Churchill Downs Incorporated, William Hill, Bwin, Ladbrokes, 1xBet, Betfair, Parimatch, Bet365, Stronach Group, Penn National Gaming, and many others. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players.

Report Scope

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market from various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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