With the Cheltenham Race Horse Festival upon us once more, it is quite obvious that the British horse racing industry is on the up and up. Horse racing is big business and last year, the Cheltenham Festival earned the local Gloucestershire area a whopping £100 million.
Why the British Horse Industry is so Important
Over the last few years, the core of British horse racing industry has contributed an annual £1.1 billion to the British economy. When you include all secondary industries, these figures rise to a staggering £3.4 billion.
Money is generated through racecourse turnstile income, media sales, betting and betting taxes, stud farm earnings, and horse owner expenditure. Each festival is somewhat of a money making machine, generating wads of cash for the hospitality industry, transport and travel industry, news and media, racecourse maintenance crews and many more.
British Horse-racing Industry Stats 2015
To get to grips with some of the facts and figures, let’s take a look at British Horse-racing Industry Authority’s 2016 Industry Update.
- Race Attendance Increase of 5.3% from 2014 to 2015 to 6.1million
- Record-Breaking 9.8% Increase in Prize Money
- 6% More Horses Trained
The British Horse-racing Industry has set the following targets for the near future:
- 5% Increase in Betting Participation
- 1000 More Horses Trained
- 7 million Attendance by 2020
Growth Is in Everyone’s Interest
No doubt, the Uk economy needs horse-racing and the UK government is to finally reform betting tax regulations this year in an effort to further boost the horse-racing industry. Experts predict a windfall for the industry through the promised legislative changes.
Have a Flutter at Cheltenham
Last year saw record-breaking attendance figures of 248,521 spectators over the four-day racing festival. Media hype and ubiquitous bookmaker advertising drives are pushing for further growth. No doubt, horse racing’s popularity remains strong and if you fancy having a flutter yourself, you ought to tune in, study race cards and check out the odds.
Each day has a feature race attracting particular attention. On Tuesday, the Champion Hurdle, Wednesday the Queen Mother Champion Chase, on Thursday, the Festival Plate, and finally the Gold Cup on Friday.
It’s well worth checking out the odds for all the races, particularly the Champion Hurdle betting odds at UK’s top bookmaker – WH. There, you can find out everything about horses, jockeys, trainers, ground conditions and read some expert views.
Throughout the festival, you will also find lots of lots of special features in all major newspapers and hear tips on the radio and TV. If you are totally intent on making some cash you may be wise to hedge your bets on favourites, though many a true windfall has emerged from betting on complete outsiders.
No doubt, there is money to be made and punters hope that this will be their year. Even those who end up picking losers rather than winners are guaranteed to have a good time, good food, plenty of alcohol and endless hours of fun and games.