Racing second-biggest sport in Britain after football

Racing is the second-biggest sport inwards Britain later football, but faces challenges from overseas betting options, a novel study says.

The study past times consultants Deloitte together with the British Horseracing Authority (BHA) on the economical touching of racing noted that the autumn inwards betting revenue since 2008-2009 reflected intense contest from other sports betting together with products, lower margins, together with a migration to remote forms of betting – increasingly via smart phones together with primarily alongside operators
offshore.

The study calulated the overall economical touching of British Racing at £3.45 billion inwards 2012.

Overall, it institute that British racing was proving resilient to economical headwinds, alongside alone a tiddler contraction inwards overall economical impact.

Core manufacture expenditure stood at to a greater extent than than £1.1b, generating revenue enhancement revenue to the regime of over £275 million.

It managed this against a backdrop of a major recession, a pregnant autumn inwards levy yield together with a challenging betting market, the study said.

The report, entitled Economic Impact of British Racing 2013, noted that spell the manufacture had an overall touching of £3.45b on the British economy, which represented a marginal ascent since the concluding study inwards 2009, i time national rates of inflation were factored in, the overall upshot was i of tiddler contraction of but about 1.2 per cent.

That contraction was alone slightly greater than that for the wider economy.

“British Racing has faced, together with largely come upwards through, a pregnant test,” BHA primary executive Paul Bittar said.

“We were never going to endure immune to the wider fiscal difficulties that however prevail, but tin sack all endure extremely proud of the scale of our sport’s continued contribution to the British economy. Core manufacture expenditure of over £1.1b together with a total economical touching of £3.45b are but the headline demonstrations of our importance.

Paul Bittar

“Resilience is a recurring subject throughout. This resilience is no accident, coming instead every bit a upshot of the collective steps taken inside the sport over the concluding decade, which includes over £950m of uppercase investment.”

Racing remained the second-largest sport inwards Britain on almost metrics, including attendances, alongside a total attendance figures of 5.6 1000000 inwards 2012, despite contest from the London Olympics together with the exceptionally moisture weather condition prompting a tape set out of abandoned fixtures inwards the summer.

Excluding the London Olympic together with Paralympic Games, racing accounted for iv of the top 10 attended sporting events inwards Britain inwards 2012.

British Racing has also performed good inwards comparing to other racing nations on many metrics, non to the lowest degree inwards price of the character of its top races together with bloodstock, all despite a lesser furnish to the sport from betting than many of its international counterparts.

The sport employs 17,400 full-time equivalents together with to a greater extent than than 22,000 individuals inwards full-time together with part-time roles. These employees were a pregnant contributory component inwards the £275m-plus inwards revenue enhancement generated past times the sport, though correspond an 8 per cent decrease inwards occupation inwards reply to lower activity levels together with toll reduction.

Media rights were the surface area of largest growth inwards the industry, generating £173m, upwards from £104m inwards the 2009 report. These increased media rights contributed heavily to racecourse cashflows existence upwards past times 1% overall, despite a marked reject inwards funds from the Levy.

Other headlines include:

• Almost £950m of uppercase investment has been made over the concluding decade inwards the industry’s infrastructure, to a greater extent than than £700m of which is at racecourses. While the bulk of this investment was made inwards the before component of the decade, alongside alone £203m of the total expenditure during the menstruation straight covered past times this report, it has undoubtedly contributed to the sport’s overall resilience during the recession.
• Every £1 spent inwards the racing manufacture generates an additional pass of £1.53 inwards the wider, peculiarly rural, economic scheme through secondary together with business-to-business expenditure.
• Owners’ gross expenditure was £389m, whilst receiving an income of £85m through prize coin together with sponsorship (down from £92m inwards 2008).
• Further economical activity generated past times British racing, including veterinarian together with farriery services together with the British Betting industry, way that it helps to sustain a total of to a greater extent than than 85,000 full-time jobs inwards the British economy.
• Over £14m of Equus caballus welfare related investment is estimated to stimulate got been made past times British racecourses inwards the concluding iv years.
• Racecourse sponsorship levels stimulate got risen from £25m to £31m – alongside the manufacture diversifying its sponsorship offerings alongside initiatives such every bit QIPCO’s sponsorship of British Champions Series together with British Champions Day.
• 2012/13 gross win from betting on British Racing was estimated every bit £710m, consisting of £570m from licenced betting offices. This gross win has fallen from £1bn+ recorded inwards the 6 years upwards to 2008/09, reflecting contest alongside other sports, lower margins together with the instantly offshore place of virtually all major online operations.

Deloitte’s manager inwards its Sport Business Group, Alan Switzer, said: “Racing is comfortably the second-biggest sport inwards Britain later football game past times many measures including revenue generation, attendances, taxation generated together with employment.

“Top degree sport instantly transcends national borders. The heritage together with reputation of British Racing way it continues to attract many of the world’s top horses together alongside investment from an increasingly various laid of major international partners.”

 

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