HRI's 2018 figures show significant rise in number of new owners

On the eve of the Dublin Racing Festival, where prize-money of €1.8 million is up for grabs, Horse Racing Ireland revealed that 798 new owners were registered in 2018, 111 more than in 2017.

That 16.2 per cent rise in new owners was the most significant detail in HRI's 2018 Irish Thoroughbred Industry Statistics which were released on Wednesday, although the number of horses-in-training in Ireland rising 2.4 per cent from from 8,488 to 8,688 was also an indication of prosperity returning to Irish racing.

Commenting on the ownership figures, Brian Kavanagh, CEO of HRI, said: "Increasing ownership was one of the main priorities for Horse Racing Ireland in 2018, so it's pleasing to see that strategy pay off with significant increases in the number of new owners, total owners and the consequent increase in horses-in-training.

"This will be felt by trainers all over the country with syndicate ownership rising 33 per cent year-on-year. Owner retention is over 73 per cent, the highest rate it has been since 2007.

"The rise in owners is reflected in an increase in horses-in-training and increases in entries and runners for both Flat and National Hunt racing. Unseasonal quick ground this winter has impacted on the number of National Hunt runners (down 3.3 per cent), but on the Flat there was an increase of 3.7 per cent year-on-year.”

However, continuing the trend of recent years, betting figures were again down – on-course bookmaker betting was down 11 per cent to €54.8m – while the usually-buoyant bloodstock sales at public auction sector also showed a significant decrease.

Kavanagh said: "Bloodstock sales struggled to keep pace with recent strong returns, with Brexit uncertainty clearly impacting investment. Accordingly the gains made in 2017 were reversed in 2018, becoming the first time in nine years that bloodstock sales at public auction in Ireland did not post an increase.

"This year was challenging for Tote Ireland and for all on-course betting operators. In total, Tote betting was down 33.3 per cent or €34.6m, with the majority of this, €33.1m, accounted for by a significant dip in money bet off-course into Irish pools.

"As flagged up this time last year, a decision by the Israeli Government to ban betting was going to have a severe impact on the Irish pools and UK pools and unfortunately this has come to pass.

"Horse Racing Ireland is undertaking a strategic review of Tote Ireland and considering a number of future options in order to maximise its return

"Overall the downward trend in on-course betting continues and reflects the changing nature of the betting market. Bookmakers and the Association of Irish Racecourses are examining ways in which on-course bookmaker betting can recover and be sustained.

“Racecourse attendances (down 0.5 per cent on 2017) rallied strongly in the second half of the year after a weather-disrupted set of figures for the first six months. The ‘Beast from the East’ led to almost unprecedented cancellations and rescheduled meetings in spring, with March attendance figures alone down 30 per cent year-on-year for that month," Kavanagh said.

Total prize-money increased by 3.9 per cent while commercial race sponsorship continued to rise strongly, growing by 5.3 per cent, while Irish European Breeders Fund (EBF) support grew by 11.1 per cent.

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