Pledge Sports

A Case for Sponsorships in Horse Racing: Why the Sport is Full of Opportunities

When it comes to sponsorship in sport, business owners and brand leaders tend to focus on football (soccer) if they’re in Europe and basketball, baseball, and American football in North America. That’s fine.

However, it’s often a good idea in business to do something slightly different. When it comes to sponsorship deals, that can mean looking at different sports. Horse racing might not spring to mind as the sport to get involved in, but Statista data shows that annual turnover in the UK averages more than $4 billion.

Watched across the globe

139th Preakness Stakes” (CC BY 2.0) by MDGovpics

Across the world at large, an estimated 1.45 billion people bet on or watched horse racing in 2020.  That’s why companies want to be seen when people place a bet at Cheltenham and other world-famous racing festivals. Indeed, when you look through the Cheltenham Festival’s races, you’ll see companies such as Ryanair as headline sponsors.

Then you’ve got the main event, the Gold Cup. An online bookie, such as Paddy Power will label the race with its own branding. Therefore, when you look at the latest Gold Cup Paddy Power odds and see Galopin Des Champs as favorite at 7/4, you’ll always think about the betting company’s brand name. 

An International TV Treat

Millions of people bet on Cheltenham every year. Of all the races during the festival, the Gold Cup shines brightest. Therefore, any chance a betting operator has to get its name associated with the race in the minds of customers is a good thing. Importantly, it’s not just exposure on a betting site that prompts bookmakers and businesses from other industries to embrace racing. Racing is shown on TV networks around the world. ITV in the UK shows major races to millions of viewers. In the US you can watch horse racing on various networks, including FOX Sports.

Then there are online media outlets. Racing TV has live streams, as do online betting sites. Throw social media platforms into the mix, including YouTube and Twitter, and what you’ve got is an entire digital ecosystem dedicated to horse racing. This ecosystem is inhabited by millions of fans, which is why the sport presents a potentially profitable investment for any company wanting more exposure.

Forge Royal Connections

Horse racing @ Tokyo Race Course @ Fuchu” (CC BY 2.0) by *_*

Then, of course, there’s the reverence attached to racing. It’s known colloquially as the Sport of Kings for a reason. The reason it’s got this nickname is because generations of royals have enjoyed racing. Not only that, it’s become a playground for the rich and famous. Billionaires from around the world have invested heavily in racing, including the Maktoum family from Saudi Arabia with the famous Godolphin stable. Racing sponsors gain a greater kudos and exposure by association.

By working in sport with wealthy connections, companies have the opportunity to infiltrate a variety of new demographics. That’s an opportunity a lot of business owners have seized in recent years, but there are gaps in the market. Indeed, until everyone realizes the potential benefits of sponsorship deals in horse racing, there are still plenty of ways to get ahead of the game.

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