Syndicates, Prizemoney, Field Sizes and Bloodstock Sales on the rise according to Horse Racing Ireland Six-Month Statistics 2017*

The first six months of 2017 saw increased numbers of runners in both National Hunt and Flat races in Ireland, running for more prizemoney in an ownership environment which featured a strong resurgence in newly-formed syndicates.
 
Syndicate numbers, an important source of business for racehorse trainers, suffered significant losses when the economic crisis hit, but syndicates are up 14% in the first half of 2017. Active owners are also up once again, with a 2.6% increase from the same period last year.
 
With active owners up and prizemoney increasing by 8.4%, unsurprisingly, demand for bloodstock sales at public auction continued its upward trajectory since 2010, with sales up 17.7% in the first half of this year. 
 
Tote Ireland betting continues to perform strongly, showing an overall increase of 9%, driven by international betting markets.
 
2017 Half-Year Horses-in-Training, Ownership and Runners:

Horse Racing Ireland, Chief Executive, Brian Kavanagh:

“The growth in entries, runners and active owners is welcome. Horse Racing Ireland has invested significantly in broadening the ownership base in Ireland, providing marketing support for our trainers, as well as introducing further measures to reduce ownership costs. Significantly, the first half of 2017 saw an 8.4% increase in prizemoney and a 6% increase in sponsorship.

“Healthy increases in runners and field sizes are very positive, and the recovery in the National Hunt sphere hinted at the end of 2016 has taken hold. The buoyancy of the recent store sales and the active role played by Irish owners and trainers at those sales is testament to this, and bodes well for further growth in the future.â€
 
2017 Half-Year Attendances and Fixtures:

Attendances at the major jumps festivals in the first six months of 2017 were very strong, highlighted by Punchestown's Spring Festival attracting a record attendance of 122,557. Two fewer fixtures in the timeframe captured in this report, as well as reduced attendance at the Dubai Duty Free Irish Derby Festival at the Curragh, have contributed to the slight fall in attendances.
 
2017 Half-Year Betting:

Tote Ireland's strong overall trend continued with betting turnover up by 9% in the first half of the year. Off-course turnover remained high, growing by 12.1% due to continued increases in betting into Irish pools by international operators. But the on-course turnover continues to decrease with both the Tote (-10.4%) and on-course bookmakers (-5.8%) reflecting the slight decline in attendances and changed betting habits.

Brian Kavanagh:
 
“Overall Tote betting continued its trend of double digit growth in recent times. As well as rising turnover in traditional markets, particularly Britain, Irish pools have been boosted by growth in other international markets, most notably the US and Israel. From a product perspective, growth has been most notable in Win betting, which has increased by 38%, and also Pick 6 betting, which has increased by 205%. As is the case each year, the Galway festival will have a major bearing on betting figures for the second half and the full year.
 
“The attendance at the Curragh for Dubai Duty Free Derby weekend obviously had an impact on on-course betting figures. However, it is clear that, regardless of attendances, on-course betting with both Tote and bookmakers remains under significant pressure.â€
 
2017 Half-Year Prizemoney and Sponsorship:

At least 75% of race fixtures in Ireland in the first half of 2017 had a race worth a minimum of €20,000, confirming a commitment made by the board of Horse Racing Ireland in its annual budget. Minimum race values were raised to €10,000 across the board with the increases flowing to the races where most owners were competing. An enhanced summer jumps programme with increased prizemoney designed to provide competitive options for lower tier National Hunt horses, began on May 1.
 
Brian Kavanagh:
 
“As a consequence of the increases  in prizemoney, we are seeing rising field sizes and more active owners, particularly syndicates.  It is undeniable that prizemoney remains the crucial factor in attracting people into horse ownership. Owners are the biggest contributors of funding to our industry and that means prizemoney and sponsorship are vital elements of a healthy racing economy.â€
 
On the Track
 
The first half of 2017 was a memorable one.  As well as a thrilling conclusion to the Irish Jumps trainers' championship, Cheltenham's March festival saw a record 19 Irish-trained winners spread across seven different trainers. Three of the feature races, including the Cheltenham Gold Cup, were won by Irish horses. Continuing a trend from Cheltenham, and like many Grade 1 jumps races last season, the Aintree Grand National was won by a graduate from the Irish point-to-point field. In late spring and early summer, the Epsom Derby and Newmarket 1000 and 2000 Guineas were won by horses trained in Ireland while Royal Ascot featured eight Irish-trained winners.
 
Brian Kavanagh stated: “The phenomenal success of Irish-trained and Irish-bred horses at Cheltenham built on the strength of what happened on the track in 2016 and underlines just how strong the main pillars of our industry are: our horses, trainers, riders and breeders. On the Flat we have a very competitive domestic scene with new trainers emerging to win Pattern races in 2017. Allied to that - at Ascot, Epsom and Newmarket, as well as Belmont Park - Irish-trained horses won some of the biggest Group 1 races in the first half of 2017, reinforcing Irish racing's reputation on the global stage.â€Â 
 
Off the Track
 
A number of significant developments occurred off the track during a period which was overshadowed by the challenges posed by Britain's decision to leave the EU (Brexit).  The long-awaited demolition and redevelopment of the Curragh stands commenced in March while the Department of Finance Tax Strategy Group has initiated a formal review of Betting Duty in Ireland. Senior management changes took place in Horse Racing Ireland with Jonathan Mullin and John Osborne both taking up new positions. 
 
Brian Kavanagh stated: “Overall, it is encouraging to see that the increases in the Horse and Greyhound Racing Fund since 2014 are now having a positive impact on the ground.  Horse Racing Ireland believes that the Fund can be fully financed from Betting Duty and has made a submission to the Tax Strategy Group on this matter.   Brexit poses huge challenges for our business which is almost totally integrated with Britain.  We are working jointly with our stakeholders and the Irish Government as well as our British and French colleagues to ensure that our mutual concerns are fully taken into account during the Brexit negotiations.
 
“It is wonderful to see the redevelopment commencing at the Curragh Racecourse, and we have seen some excellent racing there already this season.  Everybody looks forward to the completion of the development when the Curragh's facilities will be brought in line with the quality of the racetrack and the racing that takes place there.â€
  

*For consistency in figures from year-to-year, the Dubai Duty Free Irish Derby weekend is included in the statistics for the opening six months.