Business of Horse Racing
With the dust of this weekend’s Dubai World Cup just starting to settle, we take a look at the global business of horse racing, the jockeys and the up to AED73 million horses at the heart of it all.
March 24, 2011 3:28 by shafeer
Called the Sport of Kings, racing is one of the world’s oldest sports. And the reason why it has stood the test of time is quite possibly because it remains an avenue for legal gambling. Take for instance the industry in 2009: even though the recession had hit the horse racing sector quite badly, it is estimated that the “handle” (amount of money bet) in the industry was over $12.5 billion. The advent of online betting sites is partly responsible for the sustained growth in the sector. The first online gambling website apparently started in 1995 and to date it is estimate that there are 2,000 internet gambling websites available.