Figures have shown that the Saudi Cup continued to expand its international broadcast reach this year, but racing industry leaders warn that the sport faces declining betting market share, increased competition and structural challenges to its long-term growth.

The seventh running of the $20m race, held on 14 February in Riyadh, was distributed to more than 200 territories through 35 broadcast partners, according to international racing distribution agency HBA Media.

Japan-trained Forever Young won the feature race for the second time on a day which attracted 85 international runners from 13 countries and attracted an audience in the multi-millions. 

Saudi Cup broadcasting

Broadcast partners included FOX Sports in the US, Sky Sports and Racing TV in the UK and Ireland, as well as streaming platform DAZN, which handled domestic coverage in Saudi Arabia for the first time.

“The seventh renewal of the Saudi Cup weekend reinforced the meeting’s position as a truly global celebration of top-quality racing with 85 international runners from 13 countries featuring,” said Chris Bevan, Chief Commercial Officer for the Jockey Club of Saudi Arabia.

“We are delighted to see that the Saudi Cup remains an attractive product for global viewers who enjoyed Forever Young’s historic consecutive victory in the feature race.”

Additional distribution was provided through regional broadcasters across Europe, Asia-Pacific, Africa and Australasia, along with airline and cruise ship networks.

Frank Sale, Chief Executive of HBA Media, added: “It’s a privilege to collaborate with the Jockey Club of Saudi Arabia and witness the remarkable growth and enthusiasm for horse racing in the Kingdom, as well as the global momentum in the broadcast landscape behind their headline event.

“HRH Prince Bandar bin Khaled Alfaisal’s vision for the raceday has been inspirational, and the world really was watching with early viewing figures suggesting a significant increase in audience.

“As always, HBA was on-site for the duration of the meeting, and we look forward to continuing our support for this prestigious sporting spectacle.”

Industry leaders highlight structural risks

However, senior racing executives meeting in the same location the week prior were singing a different tune, as many continue to warn that the sport faces ongoing commercial and structural pressures.

Speaking at the Asian Racing Conference, Winfried Engelbrecht-Bresges, Chief Executive of the Hong Kong Jockey Club (HKJC) and Chair of the Asian Racing Federation (ARC), said racing’s share of global wagering had declined significantly in recent years.

He observed: “I firmly believe that we stand at a crossroads. A crossroads for growth, and one where we may struggle to shape our future in the way the sport requires.

“Wagering trends, especially since 2023, show racing’s share continues to shrink.

“In 2020, racing had a market share of 22%. We are now down to 13%.”

Engelbrecht-Bresges identified illegal gambling, competition from sports betting and online gaming, and demographic changes among betting customers as key challenges.

“Their growth, particularly when enabled by crypto, is exponential,” he continued. 

“The global cost of illegal gambling is estimated at $3.7tn. In Hong Kong alone, we have seen a 29% increase in illegal operators targeting our customers. 

“They often offer better prices, extend credit, and crypto makes their activities extremely difficult to track.”

Broadcast expansion of major races such as the Saudi Cup reflects ongoing efforts by racing organisations and rights holders to increase international visibility and engagement.

However, a stark warning from a key figure at a major event will surely set alarm bells off for anyone with a vested interest in horseracing. 

According to Flutter Entertainment and the British Horseracing Authority (BHA), the cost of attending races, difficulty in understanding horseracing terminology and the welfare of racehorses are key concerns for racegoers in the UK, where attendances have notably dropped in the last decade. 

Engelbrecht-Bresges will be just one of many in the industry looking to tackle several key issues that seem to have plagued the sport in recent times.