As most people know, Horse racing is a massive betting market and one of the most bet on sports in the world. As an avid Formula One fan, I often think about the betting aspect, or the lack thereof, betting is not prominent in Formula One at all and it is hardly mentioned.  But why is this? What makes Horse race betting so much more popular?

Why Is Horse Race Betting So Popular?

Horse Race betting is one of the oldest forms of betting to exist with some of the oldest documented bets dating back to the 1600s, meaning people have been betting on horse races for nearly 500 years which is longer than F1 has even been around. These foundations really help the sport grow and make it feel more authentic compared to a sport like Formula One, which doesn’t have foundations in the betting space so a random betting culture surrounding the sport wouldn’t feel as real. 

Attendances

One of the best parts of horse racing is the overall culture that surrounds it. Unlike Formula One, the tickets and attendance are easy to do. You can get tickets to some big horse racing festivals for as cheap as £20 and have a full day out with friends drinking and betting having your full attention. Whereas F1 tickets are anywhere between £500 to £6000, plus drinks and food. It is a very expensive day compared to a horse racing event, meaning fewer people can feel connected to the sport. The attendance leads perfectly to the next point.

Social Activity 

The social aspect of horse racing is my favourite part of it when it comes to the biggest horse races or the biggest horse racing festivals a lot of non-horse racing fans still watch, like the Grand National which has the highest viewership of all the races. People love watching and betting on the races even if they aren’t fans, which isn’t the same as F1 because it is an acquired taste. 

Timing

The thing with Horse Racing is the speed at which the race ends, the racing is usually done within 5 minutes which means you don’t have to dedicate a long time of your day to the sport like you would with football or something similar. This could be the issue with Formula One too, it is a long race and requires a good chunk of your day. 

Does F1 Have A Chance?

If you were to sit me down as an F1 fan, who also likes Horse racing but for different reasons, I can’t envision the sport being as big in the betting space compared to Horse Racing football etc. The reason is the lack of foundation it has with bettors. A betting fan who doesn’t like Formula One is going to put a bet on the sport, compared to horse racing. 

As we previously mentioned the attendances compared to the horse racing but it is that important to this. I haven’t been to a Formula One race yet, as much as I want to, because of how expensive it is. Compared to Horse racing where it is so easy and cheap to get to a race and be a part of the culture.

The crowd is a big part of it too because when you see F1 attendees you can see the crowd is filled with upper-class people who have the money to go and it is even filled with celebrities which is a stark contrast compared to Horse racing. Most of the horse races I have been to have been filled with people who I can get on with and who are similar to me, but the fans who attend F1 races aren’t like this and it is less about the people and the atmosphere and more about the race, which some people wouldn’t obviously prefer.