Of all the sports that could stake a claim as being the most intertwined with betting markets, few could match up to equestrian sports. When we say equestrian sports, we primarily refer to the deep, interweaving connection between horse racing and betting markets.
Niche equestrian sports, like dressage and polo, see a bit of betting activity during the Olympics, but they only make up a minuscule fraction of the broader equestrian betting market. The predominant betting markets are:
- Steeplechases.
- Flat races.
- Harness racing.
- Endurance distances.
The first two make up the vast majority of all equestrian markets.
Historical Ties & The Rise Of Gambling On Equestrian Sports
Historians believe that gambling on horse racing dates back to the early 1600s. Records are unclear, and some believe it could date even further back. But it has at least 400 years of history, which eclipses almost all current professional sports betting markets.
The emergence of some of the world’s leading flat races and steeplechases in the late 19th century meant that the UK and Ireland were the global hub for horse racing and sports betting.
Both countries’ favorable legislative landscape meant bookmakers could set up stalls at prominent race tracks and create their own odds. Given that horse racing often has big outside winners, the appeal of betting on these events surpassed that of sports that operated within smaller odds frameworks and probabilities, such as
- Tennis.
- Rugby league and union.
- Cricket.
- Soccer.
Irish & UK Influence
Horse racing and betting are synonymous because of the countries where they became prominent. The Irish and UK gambling markets have long been some of the most liberal and popular domestic gambling markets.
Land-based bookies often have exclusive broadcasting rights for horse racing betting markets, so unlike soccer, the more popular sport, particularly in the UK, gamblers can’t watch most of the games in the bookies. Horse racing beams live into bookies, and it has since the 1980s, which, again, helped it bolster its place as the top gambling market in the UK.
You only need to observe the portion of the gambling markets that the UK and Ireland comprise, despite their small size compared to other prominent gambling nations like the US and Canada.
It’s not just sports betting that holds such a firm place in the gambling culture in these two countries; you only need to look at the Irish influence in the casino gaming world, whether it’s Irish-themed slot games or the “Luck Of The Irish” fables.
Canada
While Canadian influence in casino gaming isn’t as prevalent, that’s not to say there’s not a strong influence on the wider international market. The King’s Plate is one of the oldest horse races in the world, and dates back further than the Kentucky Derby. Canadians have a longstanding relationship with both horse racing betting markets and casino gaming.
The emergence of experts site CasinoTopsOnline who have made it their mission to rank the top new casinos, is a testament to how engrained the casino culture is in Canada and how it ripples out into the wider iGaming community. Their experts have reviewed hundreds of over the years and provide a strong context and foundation for what a competent casino gaming platform should look like.
The Irish Factor
That’s not to say that the US and Canada have no role in this growth. Horse racing betting fans across the pond see massive activity at the Kentucky Derby and the Arlington Million. However, dozens of Irish stables compete at the top race meets, including the likes of:
- Cheltenham.
- Ascot.
- Epsom Derby.
- The Grand National.
With such a presence in these three big meets, the foundations of a flourishing industry have been there for over a century and are as strong as ever. The Grand National is the most crucial day in the calendar for sports betting companies – with the 2021 race setting the record for the most sports bets ever wagered in one day in the UK.
The Everlasting Appeal Of Horse Racing Betting Markets
Horse racing is a unique gambling market for many reasons, and many factors can influence the outcome of a race. Horses can go into big races as favorites and fall miles behind the chasing pack; some horses have won the Grand National at a 100/1 shot.
It’s not rare for a horse at a big race meet like Cheltenham or Aintree to win with odds of 30 or 40/1, sometimes higher. Those who understand the market know that many things can influence the outcome of a horse race, including:
- The weather.
- Whether the ground is waterlogged.
- Their handicap.
- A horse’s behavior on race day.
Horse racing markets have adapted to changing patterns, too. They’ve moved online, and with multiple sports betting platforms broadcasting live races, the market has developed into the mobile betting market. Mobile apps have continued fuelling this interest and allowed international horse racing fans to bet on overseas events, a market unavailable even as little as 20 years ago.
Final Thoughts
I can attest to how deep-rooted horse racing betting is with the broader sporting culture in the UK; the frenzy of markets and adverts on Aintree and Cheltenham week eclipse anything that any other sports betting market has to offer. So, not only does it have the longest history, but it has a healthy market that will be around for decades to come.
