Rise in Ireland on-course betting turnover
Brian Kavanagh, Horse Racing Ireland chief executive, reported an increase in attendance as a significant factor in the 6.6% rise in betting ring turnover recorded in 2019, halting the tide of an 11% drop for on-course bookmakers the previous year.
Such improvement was not seen in Tote Ireland’s annual turnover, which fell by just 1% on-course but suffered a greater reversal with a 13% (€9 million) drop due to a significant dip in international money bet off-course into Irish pools.
The troubled Tote model is undergoing a review by HRI (Horse Racing Ireland), with a full or partial sale being considered.
The 2018 drop in attendance of 0.5% to 1.274 million was reversed in 2019, up 3.2% to 1.315 million.
After the release of 2019 statistics for the Irish horseracing and breeding industry, Kavanagh said, “It was very encouraging to see the betting ring return a 6.6% increase year-on-year. Obviously, increased attendances mean more potential customers for on-course bookmakers, but it is clear also that people see the on-course bookmakers as a part of the atmosphere of a day at the races and enjoy the service and interaction that goes along with having a bet with them and with the Tote at the races.”
As for the Tote, he said, “The Board of Horse Racing Ireland received a full presentation on future options for Tote Ireland. All options are being considered and we will revert with a recommended position in the coming months. The decision will reflect what we believe is the best option for Irish racing.”
Increase in betting tax rate from 1% to 2% resulted in off-course betting duty collected by the government in 2019 reach €95 million (up 81.6% from €52.3 million). This was the first time when these receipts exceeded the Exchequer funding provided for racing of €67.2 million.
Kavanagh added, “Last year was a good one for Irish racing. However, the industry requires long-term certainty of funding to be able to plan strategically, not least in the context of the challenges provided by Brexit.”
He also indicated that efforts to establish a long-term funding solution will be intensified.
“The increased revenue from betting tax provides the basis for such a long-term funding mechanism and Horse Racing Ireland will engage actively with the incoming government to achieve this objective.”, he said
HRI also recorded another great year with new owner registrations, witnessing an increase of 6.8% to 851, which followed the theme of 2018’s numbers that saw a 16.2% rise from 686 to 797.
Kavanagh said, “The rise in owners was reflected in an increase in horses in training, both for the number of individual runners in 2019 (5.7%) and for the number of total runners on the track (5.4 %).”
Kavanagh added, “These figures are all the more welcome given the damaging uncertainty in the market created by Brexit.”
