26 Dec 2009

Recession seen as kinder than expected for racing

9:11 am on 26 December 2009

The horse racing industry says the recession has been kinder to the sector than was expected a year ago.

Boxing Day is the beginning of the summer racing carnival.

Thoroughbred Racing says betting on races was down by about 4% during the 2008-2009 season on the previous, bumper year.

But a 10% drop had been predicted.

The current trend in turnover is about 7% more than last year.

If this continues for the rest of the season, Thoroughbred Racing says clubs may be able to offer more prize money.