RACING / SPORTS INDUSTRY
Pari-mutuel Wagering Worldwide
In pari-mutuel wagering, people bet against each other, rather than the house, with the odds being set by the level of betting on each entry. It is most commonly associated with horse racing, dog racing and jai alai, but can be applied to other events as well. Major racing “powers” include the U.S., Japan, Australia, United Kingdom, France, Italy, Ireland, Germany, Turkey and Mexico.
Pari-mutuel wagering is authorized in:
- 43 American states.
- All Canadian Provinces.
- 65 other countries around the world.
Global pari-mutuel handle is estimated at: $150 billion
GROSS PURSES
Gross purses in North America reached record levels in 2006, attributable in large part to the contribution to purses from alternative gaming at racetracks that offer such gaming, otherwise known as racinos.
NUMBER OF RACES
The number of Thoroughbred races run in North America declined 1.0% in 2006.
PARI-MUTUEL HANDLE
Following two consecutive years of decline, total pari-mutuel handle, or the amount of money wagered, on Thoroughbred racing in the United States in 2006 rebounded 1.5%, while combined North American handle increased 1.1%. The off-track sector accounted for 88.6% of U.S. handle and 88.4% of North American handle, both up slightly from the year before.
Top Ten Betting Countries 2006 (in US dollars)
| Japan |
26.8 billion |
| Great Britain |
20.4 billion |
| United States |
14.7 billion |
| France |
10.9 billion |
| Australia |
9.2 billion |
| Hong Kong |
8.2 billion |
| South Korea |
5.4 billion |
| Ireland |
4.7 billion |
| Italy |
3.8 billion |
| Sweden |
1.6 billion |
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Top Countries In Total Races 2006
| United States |
51,668 |
| Australia |
19,963 |
| Japan |
17,939 |
| Great Britain |
8,934 |
| France |
6,761 |
| Argentina |
6,737 |
| Chile |
6,136 |
| Italy |
5,822 |
| Canada |
5,281 |
| Brazil |
4,742 |
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The United States Horse Industry
- Directly and indirectly contributes over $100 billion to the GDP.
- Generates 1.4 million full-time equivalent jobs.
- The industry pays $1.9 billion in taxes and fees.
- The direct value of horse-related goods and services is $39 billion.
- There are about 6.9 million horses in the United States.
- 397,000 horses are involved in races or training for races.
- 328,000 horses are involved in breeding for racing.
Source:
The Jockey Club
For further information:
The Jockey Club
The National Thoroughbred Racing Association
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