{"id":281,"date":"2024-06-28T17:00:58","date_gmt":"2024-06-28T14:00:58","guid":{"rendered":"https:\/\/slotscapitalcasino.icu\/2024\/06\/28\/horse-racing-wagering-a-growing-market\/"},"modified":"2024-06-28T17:00:58","modified_gmt":"2024-06-28T14:00:58","slug":"horse-racing-wagering-a-growing-market","status":"publish","type":"post","link":"https:\/\/slotscapitalcasino.icu\/2024\/06\/28\/horse-racing-wagering-a-growing-market\/","title":{"rendered":"Horse Racing Wagering: A Growing Market"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/wzkuIsbEa1o\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Within the United States, &#8220;controlled online gaming&#8221; typically encompasses poker and casino-style games.  Only recently has daily fantasy sports (DFS) gained significant popularity, and it&#8217;s attracting considerable attention from regulatory bodies this summer.  We&#8217;re closely monitoring the situation as more states become involved.<\/p>\n<p>Many people overlook a segment of regulated online gaming that has been around for a considerable period: horse racing wagering.  It&#8217;s a digital betting option that remains significant in numerous states.  It may not be as thrilling as other online gaming activities, but it&#8217;s a multi-billion dollar industry in the US that shouldn&#8217;t be disregarded.<\/p>\n<p>Horse Racing Wagering &#8211; A Brief History <\/p>\n<p>Equine racing boasts a lengthy history in the United States, tracing its roots to the middle of the 17th century when the initial racetrack was constructed on Long Island, New York. Currently, there are numerous racetracks scattered across the nation, with many operating autonomously, while others collaborate with gambling establishments and are recognized as &#8220;racinos.&#8221;  Wagering on horse racing also has a rich past, as it is not subject to the Unlawful Internet Gambling Enforcement Act of 2006, which prohibited online poker, casinos, and sports betting.  Presently, horse racing is prevalent in 43 states, whereas daily fantasy sports are only permitted in 35 states, and traditional online gambling is legal in only 3 states.<\/p>\n<p>Betting can be conducted on-site at the racetrack or through online pre-deposit wagering (ADW) platforms, which is the most favored method of wagering according to the American Horse Council. In 1993, TVG emerged as one of the initial brands to offer online betting, followed by TwinSpires, BetAmerica, and Xpressbet in the early 2000s. Currently, there are over 70 brands in the United States providing horse racing betting services. This encompasses brick-and-mortar casinos like the Pennsylvania State Lottery, which introduced its own branded digital betting website, Hollywood Races, to engage with patrons when they are not at one of its 26 casinos or racetracks.<\/p>\n<p>What is the magnitude of the horse racing betting market? <\/p>\n<p>The internet horse racing wagering market, while relatively modest in size, has a substantial influence.  As stated by Pete Lavery, marketing leader of BetAmerica, digital betting income surpassed $3 billion in 2015 and has been steadily rising since. During peak racing periods, the most esteemed events generate significant income, with the Kentucky Derby alone generating nearly $130 million in wagers. Based on Equibase data, the market has already produced over $5.5 billion in offline and online bets this year, a 1.24% increase from the previous year.<\/p>\n<p>The targeted customer base is relatively small, but these individuals possess a significantly higher lifetime value compared to other gambling sectors, averaging between $500 and $600.<\/p>\n<p>It&#8217;s important to recognize that horse racing aficionados can watch and wager on local, interstate, and even international races. Similar to global casino content providers, the horse racing betting industry also acquires race content from international suppliers. As demand for international races increases, suppliers like Sky Racing World have made significant strides in the market. Sky Racing World entered the market in 2014 and is the primary and exclusive distributor of Australian, New Zealand, and South African horse racing content to the North American market. Recently, the company added Argentine horse racing to its international content library. <\/p>\n<p>In the last twelve months, the firm&#8217;s betting in North America has risen by 10% annually, while its global content betting has exceeded $250 million, a substantial amount compared to major sporting events.<\/p>\n<p>**Vertical Industry Transformation**<\/p>\n<p>Despite the common perception that horse racing betting is declining, the expansion of Advance Deposit Wagering (ADW) is driven by a clear shift in content consumption from traditional retail to digital platforms. Almost 40% of horse racing fans bet on mobile devices, a trend anticipated to continue upward.<\/p>\n<p>Another growth factor for digitalization is its capacity to provide users with constant access to content, including local, interstate, and global events. Companies like Sky Racing World now offer horse racing enthusiasts 365 days a year of international events, including over 8,000 Australian races, 3,500 South African races, 2,400 New Zealand races, and 1,800 races from Palermo, Argentina. This is nearly seven times the number of games played in a Major League Baseball season.<\/p>\n<p>According to David Haslett, Chief Executive Officer of Sky Racing World, &#8220;The changing lifestyles and entertainment habits of horse racing enthusiasts, combined with the quality of our product, are driving our growth. Horse racing fans enjoy betting on Australian races at night, such as those held on turf, and appreciate the larger field sizes &#8211; Australia has 11 field sizes compared to 7 in the US.&#8221; This highlights the 17% annual growth in ADW betting on international events over the past year. <\/p>\n<p>Moreover, DFS is undeniably a key player in the advancement of specialized sectors.  How prosperous have these labels been?  Based on a recent investigation by TVG, only a small proportion of users have actually tested daily fantasy goods, and 85% of users confess that they do not plan to alter their wagering habits.  Brands such as BetAmerica have broadened their offerings to include daily fantasy horse racing products, while companies like DerbyWars and Derby Jackpot have refined the concept of horse racing betting to remain competitive and attract new viewers.  Despite the low probability of user crossover according to TVG&#8217;s study, these brands continue to innovate and target new audiences they may not have reached previously.<\/p>\n<p>Digital Marketing in the Horse Racing Sector<\/p>\n<p>Like other iGaming verticals in the United States, horse racing betting encounters its own marketing restrictions.  Google has not yet permitted the use of AdWords campaigns to direct users to betting websites.  Facebook has shown to be more adaptable and is a relatively strong driver for several ADW websites, both as a recruitment tool and an engagement tool.<\/p>\n<p>Considering the uniqueness of the sector, many of the key tactics for ADWs are actually content-driven. <\/p>\n<p>Collaborating with partner websites, purchasing direct advertising space on prominent horse racing platforms, or developing their own strategic long-tail keyword content, ADWs are employing grassroots marketing tactics to attract their highly focused user base.<\/p>\n<p>Consider a company like Sky Racing World, which introduced a new product with an emphasis on educating the market. &#8220;One of the significant obstacles we encounter is informing end users about the fact that they can access racing, information, and horse racing guides around the clock, every day of the year through their preferred betting platforms,&#8221; stated Haslett of Sky Racing World. &#8220;Experienced horse racing tipsters are already aware of the situation; for traditional bettors or newcomers to the digital realm, it takes time to become familiar with the product, whether it&#8217;s ours or any other.&#8221;<\/p>\n<p>What insights can we glean from this time-honored sport?<\/p>\n<p>Horse racing wagering confronts numerous challenges similar to those faced by today&#8217;s emerging industries. From market saturation, the sport&#8217;s globalization, evolving consumer habits and preferences, and growing entertainment competition, racetracks and ADWs have been tasked with staying ahead of the curve.<\/p>\n<p>One of the primary topics among the leading players in the horse racing arena is innovation. Mark Midland, the founder of Horse Racing Labs and the online fan site Horse Racing Nation, acknowledges that this is the most pressing issue facing horse racing in the present day. &#8220;If you fail to innovate, how can you expand?&#8221; Midland remarked. <\/p>\n<p>Weve observed in other sectors that embracing the digital realm is essential. This is because shifts in how people live, their age groups, and their choices cannot be disregarded. Companies aiming for market leadership are adapting to provide fresh product options, access to global content, and innovative platforms to cater to changing customer demographics. Recognizing this trend, the horse racing betting industry has made substantial strides. As it continues to evolve, we can anticipate it remaining a significant regulated online gaming sector within the American gambling landscape.<\/p>\n<p>Sign up for the iGaming newsletter. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Within the United States, &#8220;controlled online gaming&#8221; typically encompasses poker and casino-style games. Only recently has daily fantasy sports (DFS) gained significant popularity, and it&#8217;s attracting considerable attention from regulatory bodies this summer. We&#8217;re closely monitoring the situation as more states become involved. Many people overlook a segment of regulated online gaming that has been [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Horse Racing Betting: The OG of Regulated Online Gaming<\/title>\n<meta name=\"description\" content=\"Discover the history of regulated online gaming with horse racing betting, a long-standing and exciting option for digital wagering.\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/slotscapitalcasino.icu\/2024\/06\/28\/horse-racing-wagering-a-growing-market\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"Horse Racing Wagering: A Growing Market\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"Discover the history of regulated online gaming with horse racing betting, a long-standing and exciting option for digital wagering.\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/slotscapitalcasino.icu\/2024\/06\/28\/horse-racing-wagering-a-growing-market\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Elevate Your Casino Experience | Licensed, Secure &amp; Exciting\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-28T14:00:58+00:00\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"author\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" class=\"yoast-seo-meta-tag\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/slotscapitalcasino.icu\/2024\/06\/28\/horse-racing-wagering-a-growing-market\/\",\"url\":\"https:\/\/slotscapitalcasino.icu\/2024\/06\/28\/horse-racing-wagering-a-growing-market\/\",\"name\":\"Horse Racing Betting: The OG of Regulated Online Gaming\",\"isPartOf\":{\"@id\":\"https:\/\/slotscapitalcasino.icu\/#website\"},\"datePublished\":\"2024-06-28T14:00:58+00:00\",\"dateModified\":\"2024-06-28T14:00:58+00:00\",\"author\":{\"@id\":\"https:\/\/slotscapitalcasino.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\"},\"description\":\"Discover the history of regulated online gaming with horse racing betting, a long-standing and exciting option for digital wagering.\",\"breadcrumb\":{\"@id\":\"https:\/\/slotscapitalcasino.icu\/2024\/06\/28\/horse-racing-wagering-a-growing-market\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/slotscapitalcasino.icu\/2024\/06\/28\/horse-racing-wagering-a-growing-market\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/slotscapitalcasino.icu\/2024\/06\/28\/horse-racing-wagering-a-growing-market\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/slotscapitalcasino.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Horse Racing Wagering: A Growing Market\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/slotscapitalcasino.icu\/#website\",\"url\":\"https:\/\/slotscapitalcasino.icu\/\",\"name\":\"Elevate Your Casino Experience | Licensed, Secure &amp; Exciting\",\"description\":\"Discover a world of online casino excitement through our fresh industry news, honest game reviews, and expert articles. 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