Saturday was the day that the Derby, the UK’s premier horserace, was won in the fastest ever time by Workforce, setting a new course record at Epsom. However, betting on the race fell sharply – the Tote reported a 25% decline, William Hill said that betting was 20% down on last year. The BBC said viewing figures fell by a third to 1.9 million, continuing the annual decline. Ralph Topping, William Hill CEO, commented "How much more of a wake-up call does racing need before genuine reform takes place?"

He added, “Racing has to learn that it definitely cannot compete on Saturdays with football and more popular televised sports for the public's attention." There have been calls for the Derby to be run on a Wednesday or Friday to attract more interest from the public, although it should be pointed out that this year’s race was also competing with World Cup coverage.

‘Racing for Change’ is a recent initiative to make horseracing relevant to leisure consumers. According to Ian Barlow, Racecourse Association Chairman, racing has been remarkably resilient to the recession but faces many challenges and competition. He suggests that more effort must be made to market the sport better and that all aspects of racing must work together in partnership with the bookmakers.

Chris McFadden, Racing For Change and Racing Enterprises Ltd Chairman says, "Horse racing is facing challenging times with declining betting revenues, reduced racecourse attendances, decreasing terrestrial television coverage and dwindling racehorse ownership. But, thankfully, many in the sport now recognise that racing must broaden its appeal and engage with a wider consumer audience.” The Racing for Change Board has set four key strategies, one of which is to develop a proactive relationship with the betting industry to maximise the delivery of the racing product.

UK bookmakers contribute 10% of their gross profits to the racing industry. This year the amount the levy brings to horseracing is expected to be considerably lower than the £100 million of previous years. As Chris McFadden states: “One area of consensus is that the current decline in racing's share of the betting market, its media-rights values, racecourse attendance and racehorse ownership will not correct itself.” He continued, “We are committed to developing and implementing measures to broaden the appeal of racing, reach a wider consumer audience and maximise participation in the sport.” (E-06.08.10)

© Copyright 2010 CasinoCompendium



>>> return to archives
>>> return to frontpage