![\"\"](\"https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2019\/07\/Australia-horse-racing.jpg\")
Brian Kavanagh, Horse Racing Ireland chief executive, reported an increase in attendance\u00a0as 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.<\/p>\n
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% (\u20ac9 million) drop due to a significant dip in international money bet off-course into Irish pools.<\/p>\n
The troubled Tote model is undergoing a review by HRI (Horse Racing Ireland), with a full or partial sale being considered.<\/p>\n
The 2018\u00a0drop in attendance of\u00a00.5% to 1.274 million was reversed in 2019,\u00a0up 3.2% to 1.315 million.<\/p>\n
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.”<\/p>\n
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.”<\/p>\n
Increase in betting tax rate from 1% to 2% resulted in off-course betting duty collected by the government in 2019 reach \u20ac95 million (up 81.6% from \u20ac52.3 million). This was the first time when these receipts exceeded the Exchequer funding provided for racing of \u20ac67.2 million.<\/p>\n
Kavanagh added, “Last year was a good\u00a0one for Irish racing.\u00a0However, 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.”<\/p>\n
He also indicated\u00a0that efforts to establish a long-term funding solution will be intensified.<\/p>\n
“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<\/p>\n
HRI also recorded another great year with new owner registrations, witnessing\u00a0an increase of 6.8% to 851, which followed the theme of 2018’s numbers that saw a\u00a016.2% rise from 686 to 797.<\/p>\n
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 %).”<\/p>\n
Kavanagh added, “These figures are all the more welcome given the damaging uncertainty in the market created by Brexit.”<\/p>\n","protected":false},"excerpt":{"rendered":"
Brian Kavanagh, Horse Racing Ireland chief executive, reported an increase in attendance\u00a0as 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 […]<\/p>\n","protected":false},"author":3,"featured_media":30865,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,2,11,8],"tags":[],"class_list":["post-40489","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-europe","category-gaming","category-headlines","category-latest"],"yoast_head":"\n