When thinking of sports betting, we usually have in mind betting on football, basketball, cricket, baseball and other sports that are widely popular across the world or sports that for one reason or another have managed to attract worldwide attention and interest. Horse racing betting has remained in the shadows in the past few years, as other star sports have risen to the preferences of bettors. But horse racing betting is actually rebounding lately, gaining its long-lost grounds and it is increasing once again in popularity in many countries, including the UK.
Horse racing betting is really loved among the British people – it is an integral part of their culture and this becomes quite clear if we consider that horse racing betting is high not only within the UK, but also in other countries where there are big British communities. In Portugal, for example, where Brits are growing at a very fast rate and where there is an expanding Brit community, horse racing betting is picking up. That is why Portuguese betting sites are increasingly giving emphasis on the horse racing betting market, even though it is not traditionally linked to the country’s betting culture.
Horse racing betting goes hand in hand with horse racing popularity. Simply enough, those who love to watch horse racing, they will most likely bet on horse racing! A recent survey revealed that almost 97% of the sport’s fans usually bet on the sport. So, as viewership and spectatorship increases, so does horse racing betting!
The past has seen a slow, yet steady decline in the market, with betting on horse racing dropping each year, slightly yet sufficiently enough to denote a deteriorating market. But with the advent of the internet, the growth of online sportsbooks and the dominance of mobile sports betting applications, horse racing betting began to go up.
The reasons behind horse racing betting growth
Why is this? Simply because betting on horse racing became much more dynamic in nature – punters are now able to place their bets while horse races are in progress through in-play betting, they get to watch live horse races on their mobile devices and they get to have all the action and fun right in front of them.
Yes, the internet actually changed the whole world of horse racing betting just as it has changed sports betting at large. And while traditionally, punters had to physically attend to horse races in order to place bets, today they can simply do this conveniently, quickly and easily from their homes or from wherever they are.
Overall, horse racing betting might not be one of the most popular betting markets in Europe, but the UK keeps it strong. And because the UK is keeping it strong, it continues to have a special place in online sportsbooks and online betting sites. Now that the internet has removed physical barriers and has demolished geographic boundaries, allowing people to engage into activities even if they are far far away from where the action is taking place, we see horse racing betting becoming bigger in parts of Europe which have not been historically and traditionally associated with the sport in any way.
Portugal, being one place which sees its British population grow significantly every year – as it is the most popular residence destination for Brit expats, sees a parallel growth of horse racing betting and a general increasing interest in relevant markets offered by betting platforms and sports betting sites. With Brits being the second largest nationality in Portugal, it is very possible that horse racing betting will pick up and will eventually become a more standardized option for bettors.