A 33% Increase in Bets in Victoria According to Racing Authority

Michael Kruse / April 26, 2021

Punters in Victoria are on fire right now and Racing Victoria’s recent numbers confirm this. The Victoria racing authority reported that in the six-month period from August 2020 to January 2021, there was a 33 per cent increasein the bets Aussies placed compared to the six months before that. According to Racing Victoria, punters spent more than $5 billion on wagers during this period.

A Fast Transition to Online Wagering

From the figures Racing Victoria published, it is evident that most Aussies are turning to online wagers. Digital wagering saw a 75 per cent increase, while bets placed in retail shops declined compared to the six-month period before, and dropped by 12 per cent.

Experts attribute these numbers to Australian punters making the transition to online betting. The closures of pubs and retail betting shops only accelerated this trend, and online sportsbooks such as Sportsbet, Ladbrokes, and Neds are all reporting an increase in online betting revenue as a result.

Melbourne Cup Excitement

Victorian punters, and Aussie bettors in general, spent the most during the Melbourne Cup. On Melbourne Cup day, Aussie betting enthusiasts wagered more than $221 million, which is a 17 per cent increase compared to the 2019 event.

Some of the other figures that Racing Victoria released tell us that Tote betting in the state decreased by 9 per cent to $905.9. On the other hand, fixed betting saw a 47 per cent increase and spending rose to $4.2 billion.

Lastly, according to Racing Victoria, the number of racehorse owners has increased from 58,190 to 60,637 in the past 12 months. The number of races that had fewer than eight horses decreased to 259 from the 338 starters in the first half of last season.

Michael Kruse
Michael loves all things all horse racing and has been in the game for quite some time. His knowledge in the betting space is second... [Read full bio]

Comments are closed.