Horse Racing Looking to Bounce Back
Horse racing, which remains a popular sport in pockets around the world, has not been spared from the impact of the global COVID-19 pandemic. It was allowed to continue in the likes of Australia and USA, but has not yet been given the green light to return in the UK and Ireland, which is one of the biggest territories in terms of the sport’s popularity. The changing financial dynamics are also making it difficult for many people to invest, or continue to stay invested in the sport. Prize money from competitions has been reduced, while the breeding industry, as well as horse sales, have also plummeted.
Another huge financial impact has been seen in a related industry, the betting industry. Betting on horse races is extremely popular and lucrative, but in the absence of live races, sports betting providers are struggling. It is therefore no surprise that there have been virtual racing events which have been created in order to provide some sort of a product for these betting operators. Some of these ventures provide horse racing events along with greyhound and harness races, based on real-life data from the actual events. This is just one example of virtual reality or online events coming to the rescue in the betting and gambling industry;