Is Horse Racing Still a Popular Betting Activity?

Published on 03/18/2025 12:58:33

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There are few more popular sports on the international calendar than horse racing. Action on the track takes place across the world daily, with millions wagered on the standout events such as the Kentucky Derby and Breeders’ Cup. 

However, still, there are some that argue about how popular horse racing really is around the world. But, the stats and figures show that the sport is continuing to thrive, especially around the biggest dates on the international schedule. 

Overall Wagering Drops

While the vast majority of major events on the horse racing schedule thrive, it is worth noting that figures posted by Equibase, courtesy of BloodHorse, found that betting on the sport in 2024 dropped by 3.35%. 

However, the amount wagered still adds up to around $11 million over the 12-month period. This drop isn’t likely to prove significant enough to raise questions about its long term future, as there is a belief that the figure is notably down 5% in the final quarter due to a soft final month with limited stakes action on the agenda. 

A big reason for this is due to the days in which holidays fall on later in the year, with these having a big impact on the wagering options for bettors. It is also notable that a number of major meetings were cancelled due to weather conditions, which would have impacted the figures at the end of the year. 

In contrast, Santa Anita posted their biggest ever crowd to start their winter meet in December 2024, with a staggering 41,562 fans passing through the gates at the California track. Overall, there was a staggering $21.4 million wagered at the track, showing a 17.4% increase on the same card 12 months earlier. 

Derby Fever Continues to Gain Mainstream Audience

The popularity of horse racing betting in the United States can often be reflected by the amount wagered on the biggest event on the calendar- the Kentucky Derby.  

You can find more information here: https://www.twinspires.com/kentuckyderby/odds/ 

The stats from ABC News show that a record $210.7 million was wagered on the race in 2024, besting the previous record set in 2023 by a staggering $20 million. It was also one of the most enthralling recent races in history, with Mystik Dan winning the closest finish in the race since 1947 from Sierra Leone and Forever Young. 

However, it wasn’t just the Derby that captured the imagination at Churchill Downs, with the stats also showing that a record $320.5 million was wagered throughout the day. The stats were also mirrored by the findings from the event’s official sportsbook, with TwinSpires taking a record $92.1 million during the Saturday card at the track. 

International stars have been able to take the competition to a new level, with the stats finishing that just over $10 million was wagered across the two Japanese runners in the race. Therefore, for as long as the Derby captures the imagination, it is likely that horse racing will be in a very strong position. 

How Does it Compare to Other Sports?

Horse racing is in a very strong position, especially when compared to other sports in North America. The only exception to the rule is the featured game of the American Football season, which dwarfs every other event based on the findings from the American Gaming Association, which found $1.39 billion was wagered on the Super Bowl in 2025. 

An event that is difficult to compare to racing because it takes place over a prolonged period is March Madness. Annually, this event sees around $3 billion wagered per tournament. But, racing stacks up well when placed against single events in the NBA, NHL, and MLB. 

The latter stacks up well in terms of the other single-event sporting competitions in the United States, with 2023 stats from Arizona Republic finding that $690.26 million was wagered on the action in 2023. 

How Does U.S. Racing Compare to Other Countries?

Horse racing is popular in the United States, but it could be argued that it is much bigger deal in the United Kingdom. That is reflected by comments made by bookmakers to Racing TV in 2023, as they believed that over £500 million would be wagered during the four-day Cheltenham Festival. 

Bookmakers regard the Festival as the biggest betting week of the year, with all 28 races during the meeting attracting mainstream attention. 

However, the biggest single betting race of any description across the world comes in the form of the world-famous Grand National. Numbers from the Betting and Gaming Council found that a staggering £250 million is wagered on the Aintree showpiece annually, which converts to nearly $500 million in dollars. 

Other notable events from around the world include the Japan Cup and Melbourne Cup, with the latter being the standout event on the track in Australia annually.

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