We all get spooked when we think about the past couple of years, and how COVID-19 turned industries upside down. Sports among many industries received the biggest hit. Stadiums and racing venues were empty, and some sporting organizations even decided to cancel events until the situation went back to normal.
This was the first time in 145-year history that the Kentucky Derby was postponed due to the COVID-19 virus.
Lack of viewership means cancellation of sponsors, no more money flowing into sports, and huge problems that might dictate their future.
But, horse racing, the sport that many people wrote off saying would die off with the pandemic, quickly recovered and now it is back in full steam.
In today’s article, we will dive deeper into how COVID-19 affected horse racing and how the industry managed to overcome this huge obstacle.
The Impact of the Pandemic on the Horse Racing Industry
Remember the times when the stands were packed, the air was filled with the scent of freshly mown grass, and everybody was heading to the track without restrictions focusing only on who was the best horse to bet on today? Well, those were the times before COVID-19 hit.
Then the pandemic entered the gates turning racetrack into ghost towns. Suddenly the Sport of Kings faced many challenges where there weren’t any simple solutions.
The first challenge was the limitations of sporting events in terms of crowds, and most governments didn’t allow visitors to events. This significantly impacted the popularity of certain horse racing events, and even the Kentucky Derby was postponed few months until the situation was better.
The absence of spectators had a much deeper impact on horse racing revenue. Some races were canceled, meaning that the betting windows were down, there were many partnerships that were canceled, and organizers didn’t get any money from the races since there were no spectators.
Hard times, for sure. At that time organizers had to reach into their own pocket to pay for all the costs of running the venues with no generated revenue. Those who didn’t have the money quickly disappeared and still cannot recover.
Adapting to New Normal
So, how did the industry adapt and overcome these obstacles? Through innovation, resilience, and a little bit of internet wizardry, that’s how.
Digital Reinvention – Streaming and Online Betting
First off, the industry shifted gears faster than a racehorse on the final stretch. Live streaming and online betting became the new norm.
Platforms popped up, offering fans the chance to watch races live from their couches while wearing pajamas and betting on their favorite horses. Who would have thought that the thrill of the race could be experienced while snacking on popcorn in your living room?
Virtual Events
In a twist that nobody expected, virtual horse racing events gained popularity. Yes, you heard that right. Digital horses, with names as creative as the real ones, raced on screens, and bets were placed. It was like playing a video game, except with real money and the same level of excitement.
Safety Measures
For the live events that slowly started to return, the industry implemented safety measures that would make a biohazard team proud:
Masked Jockeys and Staff: Suddenly, everyone looked like they were about to perform surgery rather than race.
Social Distancing: Seats were spaced out as if someone had declared a game of musical chairs and then forgot to start the music.
Current Situation in the World of Horse Racing
Fortunately, horse racing has a loyal fan base that is really passionate about the sport. Therefore the pause and all the challenges that COVID-19 brought to the sport were quickly overcome thanks to the passionate equine enthusiasts.
Let’s take the Kentucky Derby as an example. It seems like all the spectators have returned to the races after two years of COVID-19. In 2021, the race attendance was around 51,000 which was an all-time low thanks to the pandemic.
However, it seems like the race quickly recovered gathering 147,000 fans in 2022, and 150,000 fans in 2023.
This year is the 150th anniversary of the Kentucky Derby and maybe it is the year when the event will break their all-time record of 170,000 fans set in 2015 thanks to the new seating arrangements and renovations of Churchill Downs.
Final Words
The horse racing industry recovered quite quickly after the COVID-19 pandemic. However, this doesn’t mean that it is back in full steam. Some horse racing venues are still facing financial troubles that will take at least a couple of years to recover from.
With that said, one thing is for sure. Horse racing introduced new changes that helped the industry grow even bigger, and it is safe to say that it is on the right path to bringing back the popularity and charm of the sport.
