Massive $2.5 billion rise in national turnover recorded for greyhound racing

WAGERING on Australian greyhound racing has surged by a stunning $2.5bn in a clear illustration that the sport’s popularity has never been higher.

Total national turnover for the 2020/21 financial year reached a remarkable $9.4bn, significantly up from the $6.9bn recorded in 2019/20 and $6.1 billion posted in 2018/19.

The wagering boom represents a 35 per cent year-on-year national increase and constitutes a staggering 64 per cent rise from the 2018/19 year.

And while the exponential growth can largely be attributed to a time where the Covid-19 landscape has seen a major spike in wagering activity, ballooning greyhound turnover has still exceeded market trends.

“There’s no question that wagering on greyhound racing continues to go from strength-to-strength,” TopSport’s Tristan Merlehan said.

“We’ve seen our greyhound turnover increase by close to 30 per cent in the past year which we put down to two things.

“There’s no doubt the sugar rush that Covid has provided has seen a spike but more aggressive prices and additional promotions have played a role for us as well.

“And the industry has done a fantastic job re-establishing its image in recent years and that’s clearly resonated with punters also.”

Wagering on NSW greyhound racing rocketed by more than $700m in the past year while Queensland enjoyed a $370m surge.

The most recent Victorian figures are yet to be disclosed but if their turnover spiked at the rate of other states, which is understood to be the case, it can be anticipated the $2.6bn figure posted in 2019/20 was in the vicinity of $3.3bn in 2020/21.

Western Australia, South Australia, Tasmania and the Northern Territory also reported continued strong growth.

But while the sport has never been more popular, experiencing never before seen wagering numbers, Merlehan says it’s important that the industry doesn’t rest on its laurels.

“It’s important the industry identifies what has attracted the new wave of punters to the sport and grows on that,” Merlehan said

“We are seeing plenty of our rusted on thoroughbred and sport punters being more engaged in greyhounds. There’s a real confidence in the sport which is washing through.

“At TopSport we’ll be even more aggressive in the next 12 months on greyhounds to ensure that we continue to see that incremental growth.

“The more that can be done to ensure these new greyhound punters stick the better the industry will be for it in the future.”

Originally published asGreyhounds deliver multi-billion dollar turnover surge

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