About The Industry

About the Industry

The impact of the Victorian thoroughbred racing industry extends well beyond that seen on the racetrack. It is an integral part of the sporting life, cultural traditions and, importantly, the economy of Victoria.

Racing is an industry that makes a significant contribution to the economy, while also constituting a key aspect of the state’s social fabric, both on a metropolitan and regional basis.

In brief, it is:

  • An exciting and strongly supported sport;
  • A focus in many regional communities throughout the state;
  • A major employer in Victoria; and
  • A significant contributor to the state’s economy.

In May 2014, Premier and Minister for Racing Denis Napthine released a Size and Scope of the Racing Industry report which reiterates that thoroughbred racing continues to play an important role in the state’s sporting and social calendar and is an industry that is a significant asset for Victoria.

A thoroughbred-specific version of the report demonstrates the impact the state’s racing clubs have on the economy and social fabric of both metropolitan and regional Victoria.

Key Economic Contributions
It reveals, as an economic contributor, the Victorian thoroughbred racing industry:
  • Generates nearly $2.1 billion in value for the Victorian economy
  • Sustains the employment of more than 19,600 full-time equivalent jobs for Victorians
  • Provides $1.1 billion per annum in household income
  • Generates $1.5 billion in spending – this incorporates both breeding and preparation of racehorses as well as on-and off-course customer expenditure. Nearly half of this spending occurs in regional parts of the state.
  • Generates more than $483 million in total customer expenditure (incorporating both on-course and non-race day expenditure).
Key Community Contributions
The study also displays the integral role thoroughbred racing plays in local communities throughout Victoria:
  • It engages close to 72,000 people as an employee, volunteer or participant. Almost 63% of these participants reside in regional Victoria;
  • There are more than 50,000 owners connected with thoroughbred racing, and almost 10,000 horses being trained by approximately 1,000 trainers;
  • In Victoria there are more than 1,700 breeders; and
  • There are more than 1600 racing club volunteers across the state and close to 500 community organisations are financially supported by thoroughbred racing.
Joint Venture
Tabcorp Holdings Limited commenced a 50/50 Joint Venture with the Victorian Racing Industry (VRI) in August 2012. Find out more about the Joint Venture here.
Victorian Racing Industry - Size and Scope Report
Download the Victorian Racing Industry - Size and Scope report here.