British Horse Racing Q1 report sees betting turnover fall

The British Horseracing Authority (BHA) has released its latest report, looking back on the first quarter of the year, with betting turnover having fallen by 9%.

The regulatory authority, which was formed in 2007, is the sport’s independent regulator which sets and enforces standards which those involved in the industry must adhere to.

The BHA Director of Racing, Richard Wayman, suggests there could be a range of factors which contribute to the ‘concerning decline’ in the new racing report.

“These include, for example, that improvements in gross win through Q1 would suggest that results on the racecourse didn’t help turnover levels through this period.”

While the average turnover per race at a Core Fixture fell by 14.4%, the Premier Fixture remained unchanged.

“This suggests changes in the profile of customers betting on racing with some of the larger higher-staking customers either betting less or moving to unlicensed operators where they can avoid the checks that are routinely required within the regulated markets.”

On an encouraging note, the authority reports it is seeing growth in the number of recreational punters betting on racing. These customers are thought to be more likely to focus on higher profile fixtures and races.

The first quarter of the year also saw the total attendances of racegoers fall slightly too. It fell by more than 16,000 from 682,385 to 666,069. However, it’s noted that most of the busy Easter period fell in Q1 in 2024, but that hasn’t been the case this year with slightly fewer fixtures seen throughout the quarter.

“A like-for-like comparison with 2023, another year where Easter fell in Q2, shows a marginal increase in overall attendances of just over 1,000 racegoers.

“Of course, with the Cheltenham Festival being the highlight of Q1, the reduction in crowds there of just over 11,000 is also significant in the total numbers this year.”

Featured Image: Credit to Tsutomu Takasu on Flickr

The post British Horse Racing Q1 report sees betting turnover fall appeared first on ReadWrite.