Let me ask you a question. What’s horse racing without betting? – Yes, it might be an exciting event to watch, but horse racing will definitely lose a lot of its value if it wasn’t for betting.
But as the digitalization of the world started happening, the closed horse racing industry wasn’t immune to these changes. In other words, the horse racing industry also needed to change to a more digital and user-friendly experience that will eventually bring more money into the industry.
This is where online horse racing betting came in. Back in the days, the only way to place a bet on a horse race was by actually going to the race location, which was all good for places like the UK, but what about places where horse racing wasn’t really popular?
Well, all of that is now a thing of the past as we can place a bet on a horse race from any part of the world, and this is not just popular, but one of the main driving factors of the horse racing industry.
The History of Horse Racing Betting
If we go back a couple of decades, we can see that horse racing betting meant a trip to the track or a shady bookmaker. But thanks to the internet, by the late ‘90s, we already had online betting websites that featured thousands of races to bet on.
Big names like TwinSpires are still available today and as betting on horses grows in popularity, so do such platforms.
With that said, online horse racing betting platforms now offer much more than just betting. They cover valuable information that will help you make a better decision, give you all the data you need to make a bet, and some of them even offer live streaming services, so you can watch the race after you’ve placed a bet.
Obviously, online horse racing betting has brought many changes to the industry (in a positive way), but the question is, is it still popular or do people still prefer going to the racetrack to place a bet?
Well, it’s not only still popular but it is a growing segment of the industry, that is expected to grow even more in the future.
1. Convenience As a Growth Factor
One big reason online horse betting hasn’t faded is that it’s ridiculously easy. You don’t need to brave the weather or fight for a spot at the rail—just grab your phone. Sites like TwinSpires and let you bet on races like the Kentucky Derby with a few taps.
For busy folks who still love the thrill, that convenience is a game-changer. Plus, with races happening daily worldwide, there’s always action to jump into, no matter the time zone.
2. The Numbers Don’t Lie
Still not convinced? Let’s look at some numbers. In the United States alone, the legal horse racing betting handle (total money wagered) is hovering around $11 billion annually, and a significant chunk of this comes from online platforms.
On the global market, there are estimates that the horse racing betting industry is valued at around $50 billion, and it doesn’t show any signs of slowing down.
In fact, thanks to how convenient online horse racing betting is, the numbers are rising as more people are getting interested in horse racing betting.
With that said, it is important to mention one interesting fact. Horse racing wagering has seen a decline in the last couple of years. But that doesn’t have anything to do with online horse racing betting platforms. Instead, younger people are not really interested in the sport, which is why we are seeing a decline.
However, the industry is on the right track to try to convince them to try horse racing betting with digitalization and online betting platforms.
3. A New Crowd’s Joining the Stands
Horse racing’s old rap was that it skewed toward an older crowd, and yeah, that’s still partly true. But online betting’s pulling in younger fans. Millennials and Gen Z love the quick-hit excitement—races last about two minutes, perfect for short attention spans.
Add in gamified features like fantasy leagues or “pick your winner” challenges on apps, and it’s no surprise the demographic’s shifting. Social media buzz around big events like the Kentucky Derby doesn’t hurt either—those viral hat pics and race highlights reel people in.
4. Tech Makes It More Than a Bet
Modern platforms aren’t just about placing a wager—they’re an experience. Live streaming in HD, detailed horse stats, and expert tips make you feel like you’re handicapping alongside the pros.
Some sites even toss in virtual races or horse-themed slots for when the real tracks are quiet. It’s not just betting; it’s entertainment, and that keeps users coming back. The tech’s so good, you might not miss the smell of the stables.
5. Big Events Still Draw Big Bucks
The Triple Crown—Kentucky Derby, Preakness, Belmont—plus races like the Breeders’ Cup and Dubai World Cup? They’re online betting goldmines.
In 2024, the Kentucky Derby alone saw $210.7 million wagered, most of it coming from online betting platforms, and those numbers have only climbed with better apps and more legal states. These marquee events turn casual fans into bettors, and online platforms make it easy to join the party, whether you’re stateside or halfway across the globe.
So, online betting platforms play a significant role in the popularity of horse racing betting. Their popularity is rising, which is a good thing for the entire industry.
