Proceeds from domestic races increased 30.1 per cent in the fiscal year 2020 to JPY912.29bn (US$8.4bn), the highest in nearly 30 years.
Japan.- Horseracing is experiencing a renaissance in Japan thanks to online betting. After several years of decline, the sport saw a rise in popularity as punters turned to online gambling during the Covid-19 pandemic.
According to the National Association of Racing, proceeds from Japanese races increased by 30.1 per year-on-year to JPY912.29bn (US$8.4bn) in the fiscal year 2020. More than 90 per cent of the proceeds came from online betting.
There are more than 21,000 horse races held each year in Japan. Due to the Covid-19 pandemic, races take place without spectators or, in some cases, with a limited number of people, which has led many fans to bet online.