Impacts Of Covid 19 On Horse Race Betting

Amid the Covid-19 outbreak, the majority of league sports have come to a standstill. Horse racing has been unique among the crowd, however. A selection of tracks has managed to keep racing under strict safety protocol. Horse racing venues are also the first to be reopening their doors, although no fans will be able to spectate yet.

Below we will explore the impacts on horse race betting during this pandemic.

The Windfall

With other sporting events, postponed horse racing has been in a unique position. It has become one of the only live sports with scheduled events available to online gamblers. It was predicted that a windfall of online Horse Race betting would occur in response. Horse racing officials hoped for a slurry of new bettors trying horse race betting while other sports were not available.

Unfortunately, this wasn't the instant case. Only 10-20% of new player revenue was generated at the end of March. Horse racing officials believe this is due to the small number of markets open and the loss of inter-track wagering on top.

Instead, gambling platforms have turned to virtual horse race betting and shifted their focus to online casino products (find out more on CasinoHawks.com). Many online betting websites and sportsbooks have reacted quickly to this increased need. The operators have focused their attention on improving their virtual lobbies. A necessary step to create the best virtual experiences possible for punters while stuck at home.

Horse racing leagues across the world have lost millions in revenue so far as a result of COVID-19 . Breeders, trainers, and jockeys are facing financial hardship, and it’s forecasted that it will impact them for years to come.

The Future of Horse Race Betting

The windfall may finally arrive in these coming weeks for horse racing. Many tracks around the world are about to begin full schedule racing ahead of other major sports. Horse racing will be prominently televised and betting markets will increase tenfold. Thoroughbred tracks and significant calendar events are not gate driven. Therefore, internet-based revenue is predicted to get the sport out of hot water.

Although many of horse racing's most significant events are still delayed, future betting will be available. The first for fans to look forward to includes the Royal Ascot set for the 16th of June.

Be Patient Horse Racing fans!

As the situation is starting to normalize horse racing has its nose over the wire first. Sadly spectators won't be able to get their shoes muddy on the tracks. Still, they can enjoy the thrill of the race by betting online.