Greyhound racing plays a crucial role in the economic development of the UK, Ireland, and Australia. These nations have thriving racing communities and organise a multitude of greyhound racing competitions that attract substantial audiences. As a result, this has a beneficial impact on local enterprises and generates a significant employment opportunity.
Employment opportunities
The correlation between economic strength and job creation is often evident, and the greyhound racing industry plays a crucial role in supporting a variety of occupations. This sector encompasses a diverse range of professions, including breeders, trainers, veterinarians, race officials, marketing personnel, and media experts, all of whom are integral to its functioning. The employment opportunities generated within this industry make a significant contribution to local economies.
Furthermore, the impact of this industry extends beyond direct employment, as it also creates substantial indirect employment in sectors such as hospitality, catering, security, and maintenance, which are closely tied to greyhound racing venues. The industry's demand for pet supplies, veterinary services, and specialised equipment also stimulates businesses operating in these sectors, resulting in a broad-reaching influence.
Income through taxation
Greyhound racing also has a noteworthy impact on these economies through the tax revenues generated from betting activities. In countries like the UK, Ireland, and Australia, where betting on greyhound races is legal and regulated, the profits derived from these activities are subject to taxation, resulting in substantial revenues for the government.
Numerous studies have demonstrated that greyhound racing contributes millions of dollars in tax revenues each year, which in turn supports public services and projects. These funds play a crucial role in financing various initiatives and programmes that benefit the community at large.
Income from tourism and events
Greyhound racing is a well-liked activity for spectators that attracts enthusiasts from both local and distant areas. These races have a positive impact on tourism, particularly in regions where there are notable greyhound tracks. The arrival of visitors supports the local economy by increasing expenditures on lodging, dining, and various recreational pastimes.
Furthermore, the economic value produced by this sport is greatly influenced by ticket purchases, sales of food and beverages, sponsorships of race events, and the sale of media rights.
Greyhound sale
Greyhound racing positively impacts economies in several ways. Firstly, the sale of greyhounds to trainers and racing enthusiasts generates significant revenue for breeders. The market for high-quality greyhounds with strong racing pedigrees can command impressive prices, contributing to the economies of countries involved in the sport. This is especially true for rural areas where many breeding facilities are situated. Additionally, the sport attracts spectators and tourists, leading to increased spending on accommodations, dining, and recreational activities. Ticket sales, food and drink concessions, race event sponsorships, and media rights sales also contribute to the economic value generated by greyhound racing. Overall, the industry plays a crucial role in supporting local economies and creating financial opportunities.
Below is a quick recap of the beneficial effects of greyhound racing on economies:
According to consultant economist Jim Power's report, the greyhound racing industry in Ireland made a net contribution of €132.3 million to the country's economy in 2019 resulting in the support of 4,150 full-time and part-time jobs. In the same year, an additional 6,211 active greyhound owners experienced economic gains from the industry. Furthermore, greyhound owners invested an additional €117.8 million in 2019 towards the preparation and racing of greyhounds. These figures pertain to the last full year of activity before the onset of the pandemic.
Ray Bartolo, the general manager of the Geelong Greyhound Racing Club, aims to raise awareness among the local community about the positive impact the club has on the region, both financially and socially.
According to Mr Bartolo, there are over 1300 individuals actively involved in the greyhound industry in the Barwon region. From an economic perspective, this industry contributes a value of $26.5 million to the City of Greater Geelong alone.
In addition, the greyhound racing industry provides a significant economic boost to the Victorian community, adding a value of more than $408.6 million. Out of this total, over 42% is contributed by regional Victoria. Mr Bartolo emphasises that the industry's impact extends to employment opportunities, as it generates nearly 2,900 full-time equivalent jobs throughout the state of Victoria. Approximately 45% of these jobs are located in regional communities. Furthermore, the Geelong Greyhound Racing Club itself employs 30 staff members on a full-time, part-time, and casual basis.
The industry is also successful in attracting a substantial number of attendees, with 208,000 individuals visiting the clubs annually. Regional Victoria accounts for 65% of this attendance.
There is indisputable evidence that the economic advantages associated with greyhound racing are substantial, extending well beyond the immediate industry and contributing to the overall economies of the UK, Ireland, and Australia.