Ownership in Ireland on the up but betting turnover continues on downward spiral

There was good news and bad news for the Irish racing industry on Thursday with the release of half-year 2018 statistics that showed new owner and syndicate numbers on the rise but on-course and shop betting turnover continuing to slide.

Figures released by Horse Racing Ireland revealed an increase of 19 per cent in new owners and an upsurge of almost 44 per cent in new syndicates over the six-month period.

However, betting figures, which have been in constant decline in recent years, continue on a downward spiral, with overall Tote betting down 32.8 per cent from €48.2m to €32.4m and on-course bookmaker betting falling by 11.5 per cent from €29.5m to €26.1m.

Racecourse attendances for the period were down 2.3 per cent. The number of horses in training dropped by 1.3 per cent but prize-money increased by 4.4 per cent, with sponsorship up by seven per cent.

Racecourse attendances for the first six months of 2018 were down 2.3 per centCredit: Patrick McCann

Commenting on the figures, Brian Kavanagh, chief executive of HRI, said: "Horse Racing Ireland is actively involved in encouraging new owners and retaining our existing ownership base.

"Our ownership department markets the benefits and attractions of racehorse ownership in Ireland and continues to assist trainers with marketing support.

"I welcome the recent introduction by the ownership department of a new online leasing system."

He continued: "The bad weather we endured in the spring had a knock-on effect on entries, runners and the number of horses in training. A total of 25 meetings had to be cancelled or rearranged. It was an almost unprecedented situation and, not surprisingly, it led to a 30 per cent year-on-year dip in attendances during March.

"But there has been a noticeable bounce in the second quarter, with the figures for May up ten per cent compared to last year."

Brian Kavanagh noted the effect of bad weather on betting and attendancesCredit: Caroline Norris (racingpost.com/photos)

Addressing the decline in betting turnover on course and in shops, with more punters migrating online, Kavanagh said: "This time last year we noted that betting figures remained under significant pressure, and figures for the first half of this year continue to reflect the challenge facing all on-course operators – the Tote and bookmakers.

"The weather-affected programme in the first quarter of the year impacted heavily on both, but a change in betting habits continues to make the most telling contribution. The Association of Irish Racecourses is sitting down with the bookmakers to discuss their business model and see where changes can be made."

STATE OF THE NATION

Irish racing industry (first six months of 2018)

New owners up 19%
New syndicates up 43.7%
Attendances down 2.3%
Average attendance down 1%
Bloodstock sales up 1.6%
Prize-money up 4.4%
Race sponsorship up 7%
Total horses in training down 1.3%
Current horses in training up 6.4%

Betting business (first six months of 2018)

Total Tote betting down 32.8% from €48.2m to 32.4m
Off-course Tote (Irish pools) down 37.3% from €40.8m to €25.6m
Off-course Tote (international pools) no change at €3.1m
On-course Tote down 14% from €4.3m to €3.7m
On-course bookmaker betting down 11.5% from €29.5m to €26.1m
Total on-course betting down 10.7% from €33.8m to €30.2m

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