Horse racing is one of the oldest sports in the world.
Once the favorite pastime of kings and queens, it’s now a mainstream sport enjoyed by hardcore fans and casual observers.
There are, of course, many reasons why the DeRace Whitepaper puts the racing industry’s global value at $300 billion. The sport is fundamentally entertaining for audiences from all walks of life – but it also has the backing of royals, billionaires, and business magnates.
Racing Moves into the Digital Era
Horse racing receives ample TV and media coverage. It remains a constant presence in sports fans’ minds.
However, while these qualities have made racing popular and, to some extent, kept it in the mainstream for the last few decades, things are changing. Digital technology entered the market in the early noughties and, today, it’s taking the sport to new levels.
How? Information. Anyone can go online right now and find statistics, betting odds, and race news for the latest events. For example, if you want the latest Cheltenham betting offers, they’re accessible with just a single tap.
From odds boosts and money-back offers, the leading online bookies provide comprehensive coverage of every race. What’s more, these websites and apps offer their services in such a way that accessing a wealth of information is extremely easy.
Indeed, if you’re a fan of National Hunt racing and want to know the Cheltenham top jockey odds for 2023, you can go online and see that Paul Townend is tipped as the favorite at -300. This information changes, of course – that’s the nature of the sport.
One event’s odds and stats will differ from another.
However, the portals are there, as online operators have templates (static pages) that they can repopulate with the latest race information. This makes it possible to provide up-to-the-minute coverage with relative ease.
From the Ground to Digital Clouds
Going back 40 years and getting the same amount of data was a struggle or, at times, even impossible. You’d need to gather information from dozens of papers, TV shows, and any other sources you could find. Today, all it takes is a few taps to open a veritable treasure trove of information.
Digital technology has also enhanced the racing industry from an entertainment perspective. Watching live events – from major races to local ones – is easy. As well as social media channels posting video clips, you can watch live streams on a variety of platforms.
Then, down on the track, digital tech is helping trainers get the best from their horses. Tracking software can now be attached to saddles and jockey’s lapels. These trackers collect speed data that can determine where a horse is strong and weak.
Trackers can also measure a horse’s heart rate which, again, can help trainers make small adjustments and improve results. To get even more nuanced, race organizers can also use tech to assess the ground.
The consistency of the ground before a race is important as it can affect the result and even if a horse runs or not.
Products such as the GoingStick use electromagnetic readings to assess the track quickly and efficiently. Again, this helps make racing safer and more entertaining. It’s unfair to say that tech has made horse racing what it is today.
The sport is hundreds of years old and there’s an inherent appeal to it that people love. However, there’s no doubt modern innovations have made it more accessible, engaging, and, in many ways, more entertaining.
That’s why the industry’s estimated value is $300 billion and rising.