Source: The Guardian Sport
Horses and racegoers at Flemington Racecourse, where Melbourne Cup 2025 will be run on Tuesday.Photograph: Daniel Pockett/Getty ImagesView image in fullscreenHorses and racegoers at Flemington Racecourse, where Melbourne Cup 2025 will be run on Tuesday.Photograph: Daniel Pockett/Getty ImagesMelbourne CupAustralians still betting big on Melbourne Cup, despite many saying they’re losing interest in raceBut money spent betting on horse racing overall has sharply declined amid cost-of-living pressures and regulationGet ourbreaking news email,free appordaily news podcastHenry BelotMon 3 Nov 2025 09.00 ESTLast modified on Mon 3 Nov 2025 09.02 ESTShareAustralians saythey are losing interest in the Melbourne Cupand theanimal welfare campaign against it has never wavered, but the amount of money gambled on the race has barely changed since the pandemic.Wagering turnover on theMelbourne Cuphas fallen only slightly from the $221m recorded in 2020 to $214m last year. The five-year average spend, according to Racing Victoria figures, remains $220m.The amount of money being gambled on horse racing in Australia overall has fallen sharply, however, presenting a challenge to the long-term sustainability of the industry.At least 174 racehorses died from racing or training injuries in past 12 months in Australia, report findsRead moreInVictoria, the amount of money gambled on horse racing fell by 10.2% last financial year. This followed a 4% drop a year earlier. Wagering turnover dropped from $9.1bn in 2022 to $7.9bn last financial year, according to Racing Victoria.Rather than blaming declining interest, Racing Victoria has cited cost-of-living pressures, higher interest rates, a trend towards gambling on other sports, a “reduction in advertising and customer promotions” and more regulation.Similar declines have been reported in New South Wales, where wagering revenue has dropped by 9.6% in two years. In 2023, Racing NSW reported gambling turnover of $335m. Last year, it dropped to $302m.Sign up: AU Breaking News emailBut theMelbourneCup continues to encourage gambling from people who have little if any interest in horse racing beyond the day.Charles Livingstone, a gambling researcher at Monash University, said the cup was “an event for people who don’t know anything about horses” and a money-spinner for bookmakers.“This is like the grand final – it’s a great marketing opportunity,” Livingstone said. “It gives the gambling companies an opportunity to persuade people who wouldn’t usually bet to download their app.”“If you’re a young bloke who downloads it for the cup, they’ll probably understand you like sport and start giving you incentives to gamble on the AFL, cricket and tennis.”Racing Victoria and Racing NSW have blamed a decline in overall revenue on bookmakers offering fewer “free bet” promotions. The tactic wascondemned by a parliamentary inquiry into gambling harmmore than two years ago.In Victoria, the number of “free bets” offered on horse racing fell by…
Published: 2025-11-03T14:00:40
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