Victorian racing continues to enjoy strong customer engagement and participation according to the racing and wagering results for the 2017-18 racing season released today by Racing Victoria (RV).
Nation high attendances, wagering and field sizes underpin the positive results which provide a platform for continued growth throughout the current Spring Racing Carnival and beyond.
It’s the fourth-time RV has presented its half-yearly racing and wagering results which afford a detailed overview of the industry’s performance against a number of key metrics, whilst identifying notable trends.
The key results for the period between August 2017 and July 2018 are as follows:
- A record $6.42 billion was wagered domestically on Victorian racing – up 2.7% despite a decline of more than 50% from one key corporate bookmaker amid a rapidly evolving wagering market;
- Underlying year-on-year wagering growth of 7.5% when the results of the one key corporate bookmaker are removed;
- Punters again showed their love for night racing with average turnover per meeting up 8%, while the trial of race free Mondays led to a collective wagering uplift of 14.1% across the 10 subsequent double-header Wednesdays;
- The Spring Racing Carnival reported growth in excess of 5% in both attendance and turnover throughout the 2017 edition;
- Television ratings on Channel 7/7Two for spring’s 13 feature racedays grew by 18.2% in 2017 which was complemented by significant increases in engagement with Racing.com;
- Across the season there were 1.33 million attendees at meetings statewide with country crowds up and metropolitan marginally down due to the grandstand construction works at Flemington;
- Over 67,000 owners have participated in Victorian racing across the past two years, while the percentage of jockeys and trainers that celebrated Saturday metropolitan success grew year-on-year;
- Victoria was the only state in 2017-18 to both increase field sizes and maintain an average above 10 starters per TAB race. This extended to staying races where Victoria conducted 40% of the nation’s 2000m+ races;
- Despite a smaller foal crop, the number of individual horses that competed rose by 0.8% to 8,731 with many sharing in a prizemoney and bonus pool that rose above $200 million for the first time;
- With a $16.3 million increase delivered in 2017-18 and a further $12.4 million boost announced mid-year for the current 2018-19 season, Victorian racing has seen prizemoney and bonuses increase by $55 million – or a third – since 2015; and
- Among those horses to compete was the 227th internationally-trained contender for the Spring Racing Carnival with an independent report detailing a $47.7 million annual economic benefit to the state from the Carnival’s internationalisation.
RV Chief Executive, Giles Thompson, said RV’s full year results offer transparency on industry performance and demonstrate the health of Victorian racing.
“We have had a terrific year of thoroughbred racing across Victoria and it is pleasing to report that customers and participants are continuing to engage in record numbers delivering nation high attendances, wagering and field sizes,” Mr Thompson said.
“From Winx’s historic Cox Plate three-peat to Vianden’s country Cup romp, the 2017-18 season was littered with many highlights that were warmly embraced by our customers here and abroad and we’ve seen that reflected in these results.
“The depth and quality of our racing has continued to fuel the growth in wagering and we’re particularly pleased to be the only state which grew average field sizes over the season, whilst delivering record prizemoney for our participants.
“I’m delighted to also report on further growth in female participation over the past 12 months with the percentage of trainers, jockeys and stable employees all on the rise, amid the backdrop of burgeoning success rates by female riders.
“Off the back of increases of more than 5% in attendance and turnover across the 2017 Spring Racing Carnival, this year we’re celebrating 25 years of international participation in the Carnival and these results also outline the important economic contribution that the visiting horses make to our state.
“In releasing these positive results for the 2017-18 season, I want to take this opportunity to again thank all our customers for their continued support of Victorian racing, our participants for their dedication and commitment, and our Clubs for their tireless efforts in showcasing our sport.”
To view Victoria’s racing and wagering performance overview for the 2017-18 season click here.