The Odds

Horse Racing

08.09.2011 | By: Chris Morton
+Chris Morton

Australia horse racing is ranked among the best in the world. Professional horse racing in his great land of wonders dates back you the early 18th century. It was 1788 when horse racing is estimated to have started in Australia. Fleets from southern part of Africa are known to have landed on the land during these early days and torched the industry of horse racing. Over the years the sport has tremendously grown. It can be ranked now among the most yielding industry in the lives of many Australian citizens. This game is no longer taken for fun. Professional horse racing has changed the shape of the industry. The government also reaps well from the industry.

The industry has been boosted by the excellent facilities that support the industry. Each year horse racing competitions are held. People from all over the world glue their eyes on their screens, to watch the great competitions live. It is estimated that more than 19,000 races take place across the continent. Flat racing is the major form of racing that is widely practiced during many competitions. More than 95 % of the races are flat races. On the other side jump racing is not much held? It makes a small percentage of all the race competitions held in Australia. Race starters in the whole country are more than 190,000 in number with around 31,000 runners on individual basis. All these runners engage in the tough competitions which take place each year. Australia is rich in the number of race courses .it is estimated that the whole country has more than 360 race courses. This shows how well the sport is endowed in this part of the world. With this great number the whole world can learn horse racing from Australia. Racing has become every day sport in Australia.

However, there is one of the most long awaited cups every year. The Melbourne cup is the most popular horse racing competition in Australia and the rest of the world. Millions of dollars are fueled to facilitate the event. Winners also scoop thousands of dollars from the competition. This great game takes place in the November of every year. The competition was first held in 1861. Since then the competition has gone increasing and now it attracts more than 100,000 live watchers from the racing courses. In some years the number of people attending the competition goes over 120,000. This shows how people love horse racing. Those who do not make to fly there can watch the competition live from their home screens.

From the annual platform more than 2.5 million people view the competition. Many people watch the game from their homes or other entertainment places. This race competition brings the whole nation into a stand still as glue their eyes on the screens waiting for the results of the day. The game is really captivating and winners go home with millions of dollar prices every year. The game has really advanced and today people place bets to watch the racing live. Through online betting, a lot of revenue is collected from this single competition. It estimated that every person in the country uses more than 8 dollars on betting. This is a great amount of revenue that has boosted the economic state of the country. People place more and more bets in order to win. Online betting has really changed the horse racing industry in the country. Many people have really benefited from horse racing. The competition gives millions of dollars to winners.

With horse racing in this part of the world, one of the best lucrative money tokens are given to winners. Over 400 million dollars are given out to the winning horses. The competition has really changed the lives of many. This event requires a lot of investments but it gives back millions of times profit. The wining lucrative is ranked third in the whole world after Japan and USA. There is a turnover of more than 14 billion dollars from horse racing. On average each person can get more than 600 dollars when divided among the population. More than 4 billion are used for the tack. The industry has risen to become one of the most profitable in Australia. On the other side the chances of winning when placing a bet online is very high. More than 46% of all the bets can win. This motivates people to continue purchasing the bets. The amount collected from betting is very high. Online betting has become a game to many people. With high chances of winning, betting has become very common in Australia. Bets are placed as win tickets. Trifecta bets are available and are winning tickets. They give more than 15 % wages to the whole nation.
With the industry reaching great heights and professionalism, great revenue is generated. More than 6 billion is raised yearly as revenue. This has boosted the sector and the government has recognized it as a profitable sector in the economy. Horse racing is among the greatest industries that run the economy of Australia. Many people have taken racing as a professional. There are many careers which can be developed in the industry. Horse racing has improved the economy and now many people across Australia are working in the industry. More than 200,000 people have secured jobs in the industry. This shows that the industry can be profitable in different parts of the world. In Australia it is estimated that out of every 100 citizens is employed in the industry.

Australia has created great challenges to the world through horse racing. They have turned what was termed as a simple game into money making industry. Horse racing has promoted other industries as a result. Tourism has been supported by the increasing number of clients. Horse racing is not common in many areas of the world and it has been popular in Australia during its years of existence. Economic development has been fueled by the horse racing industry in this country.