Racing

HRI highlights strong bloodstock sales in 2014

Prize money to increase by €5m in bid to lure new owners into racing

Attendances at Irish race meetings went up 4 per cent to 1.29 million in 2014 compared to 2013. Photograph: Cathal Noonan/Inpho
Attendances at Irish race meetings went up 4 per cent to 1.29 million in 2014 compared to 2013. Photograph: Cathal Noonan/Inpho
Wed Jan 14 2015 - 15:32

Horse Racing Ireland reported strong growth in Irish bloodstock sales for a fourth straight year in 2014 while on-course betting recovered marginally to record its first improvement since 2007.

Bloodstock sales at public auction rose 10.5 per cent year on year from €133.4 million to €147.4 million, a fourth year in a row that saw an increase, while the value of Irish-foaled exported horses sold through auction was up 11.7 per cent from €205.4 million to €229.4 million.

Despite there being two less fixtures (347 to 349 in 2013), overall attendances grew by 4 per cent to 1.29 million while on course betting rose marginally from €93.7 million to €94.2 million. The betting ring saw a slip of €500,000 from €70.8 million to €70.3 million, while on-course shops saw an increase of €1 million to €9.7 million.

Total tote betting increased 10.8 per cent to €94.2 million, although on-course tote betting remained unchanged at €14.2 million. The growth has come in the off-course tote, with Irish pools seeing a 16.2 per cent rise to €41.7 million.

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Betting shops saw growth of just over 3 per cent in 2014, up €80 million to €2.62 billion.

Speaking about the figures for 2014, HRI chief executive Brian Kavanagh said: "This is the fourth consecutive year of dynamic growth in bloodstock sales at public auction in Ireland which is a testament to the enduring appeal of Irish thoroughbreds, based on their racing success at home and overseas.''

Kavanagh also pointed out the problems facing the industry , including the decline in horses-in-training (down 6.4 per cent), entries (down 12 per cent) and ownership (down 6.2 per cent).

“We are now seeing the full effect of the dramatic declines in foal crops in 2009 and 2010 and ownership is an area that needs continued focus. While the overall number of owners has fallen again, the increase in new owners is welcome and our field sizes bear favourable comparison with other racing jurisdictions,” added Kavanagh.

Prize money in 2014 went up 6.1 per cent from €45.9 million to €48.6 million, with commercial sponsorship up 6.3 per cent from €3.7 million to €4 million.

In a bid to attract new owners and improve returns to existing ones, HRI will increase prize money by €5 million to a projected€53.9 million in 2015, a rise of 10 per cent, while the minimum race value will be increased from €7,000 to €7.500.