Matthew Rix’s Post

The Kentucky Derby recorded a record-setting $320.5M in wagers. Here are 3 reasons for the +11% increase that made the Derby such a win for TwinSpires, FanDuel, DraftKings Inc., and horse racing overall 👇 🐎 1. Growth in tickets - This year's 156,710 attendance was +4% higher than 2023's and the highest since 2018. Churchill Downs Racetrack's $530M investment in premium renovations likely helped draw more fans. 🐎 2. Larger field - 20 horses started this year, 2 greater than the 18 in 2023. The increase drove more bets and, importantly, more combinations of multi-horse bets, increasing the overall handle. 🐎 3. App legalization - Sports betting via app earned legal status in Kentucky since the 2023 derby, expanding the pool of in-state bettors who could easily access a wagering app. 500,000+ bettors created accounts on mobile apps during the first 6 months of legalization. __ Horse racing has room to grow in the US, and the results from the weekend are positive indicators. Flutter Entertainment Plc's revenue from horse racing is 60% in Australia and 35% in the UK and Ireland. According to Andrew Moore, GM of FanDuel Racing, the percent of US revenue from racing is "much lower." The variety of levers driving growth (ticket sales to drive in-person bettors, operations to increase field size, and technology roles to drive app-based adoption) highlight career opportunities across functions. __ ⭐️ Explore open jobs at the @Churchill Downs on TeamWork Online: https://lnkd.in/eej-GDES Have you wagered on horse racing? What has been your experience? ⬇️ 💬

Transformation in sport … Amongst many agendas in the last 3 years working with The FA, the overriding theme has been ‘transformation’ with the original funding for my work in the NLS via DCMS. Ironically, this included Horse Racing amongst 5/6 other sports connected to post covid recovery, therefore this article in the trade paper Racing Post, turned my head this morning. Those of us who follow racing will be aware of the challenges the sport faces have not just appeared. Additionally, with Irish and French racing either side of the water offering an ever increasing compelling offer, transformation or ‘radical change’ is now surely a necessity not a choice ? Beyond the specifics related to racing, I am sure many who are working in the sporting development space- clubs, leagues and / or associations, can reasonate to so much of this Governance & Business agenda in sport - I’m fully aware racing is not alone! A challenge set by someone who with proven track record and a stakeholder the sport cannot operate without. Interesting times ahead… #leadership #sportbusiness #transformation #governance #football #horseracing #elitesport #communitysport

🏎 F1: On The Up I’m sure most of us will agree that this season’s Formula 1 has been the most exciting in a while. Some of my highlights have been; 🇬🇧 Lewis Hamilton winning in Silverstone – his first win in two years which crowned him driver with most wins at Silverstone 🇲🇨 Charles Leclerc winning his home GP in Monaco – the first to do so in 93 years! ⚔ ‘THAT’ collision between Lando Norris and Max Verstappen! With all this excitement, it’s no surprise that Formula 1 have reported significant year-on-year growth in revenue across the first two quarters of the year; 1.    Q1 2024: $553 million (+45%) 2.   Q2 2024: $871 million (+20%) What can this be attributed to? Well, the key revenue generators will be from the important roles that media rights and sponsorships play. 💰 It’s estimated that the 2023-2024 F1 series sponsorship revenue alone sits at around +$514 million; with the biggest spenders in each category listed as; 📺 Media                                                          ESPN                                                                DAZN                                                              Sky                                                                  FOX Sports                                                    Viaplay Group                                           🤝 Sponsors The HEINEKEN Company ROLEX Qatar Airways DHL aramco Another factor to consider; compared this point in last year’s season, there have been an additional 2 races this year – another big boost for revenue. 🎙 The excitement is shared beyond just the fans too, with Stefano Domenicali, the President and CEO of Formula 1, sharing;  “The F1 season is seeing phenomenal racing, with seven different winners through 14 races and tighter gaps across the grid. Social media followers are up over 30% across F1 platforms and we had 3.7 million race attendees through the first half of the season with ten sellout crowds.”. 💥 With the second half of the season kicking off next weekend at the Circuit Zandvoort (Verstappen’s turf), I urge everyone to grab their seatbelts and strap in! #sportsbusiness #sportspartnerships #sponsorship #F1

The Aston Martin F1 Team team of motor racing's Formula 1 has agreed a new sponsorship deal with Pepperstone, the Australian online trading platform. #SportsBiz #AstonMartin #F1 #Pepperstone https://lnkd.in/e9kPCFQn

Greyhound Racing Ireland and SIS announce significant extension of major feature events into 2025 Greyhound Racing Ireland and SIS Ltd have announced the extension, and significant expansion, of an agreement to showcase major feature events into 2025. Beginning in June this year with the Race Of Champions from Tralee, SIS has broadcast nine major Irish final nights - including live streaming on sisracing.tv - plus every race and every round from the BoyleSports Irish Derby at Shelbourne Park. That figure will more than double next year to 19 major competitions in addition to the Irish Derby and Winter Racing Festival with the Gold Cup at Shelbourne Park in February pencilled in to launch the coverage. As well as the Gold Cup, other Shelbourne finals being covered include the Champion Stakes, Corn Cuchulainn, Easter Cup, Open 600 Puppy Derby and Irish Oaks. Nationwide, Limerick's Con & Annie Kirkby Memorial and Cambridgeshire Open 750, the Lifford Oaks, Mullingar's Irish Cesarewitch and Tralee's Juvenile Classic are also on the schedule. Tim Lucey, CEO of Greyhound Racing Ireland, commented: "We are thrilled to extend and expand our partnership with SIS, which has been instrumental in bringing the excitement of Irish greyhound racing to a global audience. This significant increase in coverage for 2025 underscores our commitment to showcasing the best of our sport and providing fans with unparalleled access to major events. We look forward to continuing this successful collaboration and reaching even more racing enthusiasts around the world." Ryan Corrie, greyhound operations manager for SIS, said: "The global popularity and familiarity of Irish greyhound racing continues to grow and thanks to our excellent long-standing relationship with GRI we are proud to bring these feature events to the racing audience in 2025. "Showcasing the best of Irish racing throughout next year is further testament to our joint continued commitment to promoting our sport and, with the help of sisracing.tv, we have the platform to reach racing fans all around the globe." Additionally, sisracing.tv publishes a weekly 'Irish Focus' with leading commentator Ian Fortune every Wednesday which is a review of the major races in the previous seven days. The Eric Browne Memorial Kingdom Derby final at Tralee will be the final 2024 broadcast on Friday 27th December. #ThisRunsDeep #GoGreyhoundRacing

🚨 2025 Motorsport Athletes Wanted! 🚨 Are you a driven competitor in BTCC/British GT, a Rally Championships, BSB, Praga Cup, or an American racing series? 🌍 We’re selecting a limited number of athletes to work with for the upcoming 2025 season. 🔧 What’s included? - Sponsorship Guidance & Support - Social Media Management & Growth - PR opportunities to amplify your brand - Strategies to monetize with brand deals, merch, and more! This isn’t a free ride, but it’s a heavily discounted program designed to fuel your success both on and off the track. 💬 Drop a comment or message us for more details. Tag anyone you know that may be interested 🏁 #Motorsport #RacingAthletes #BTCC #BritishGT #BSB #PragaCup #RallyChampionships #AmericanRacing #MotorsportMarketing

Same trend globally also for betting on horse racing Less horses Less races Less clients Less money Less interest This report in the U.S. shows a 56% inflation adjusted decline since 2003 (sports globally for like for like comparison would be over 10 fold up in several regions) And globally the HORSE betting product is IDENTICAL to 2003 Zero innovation No cash out (except Colossus Bets) Zero innovation No prop or SGP markets Zero innovation No fixed odds (US and several regions) Zero innovation No margin changes / experimentation Zero innovation No syndicates (except Colossus Bets and AB Trav och Galopp ) Zero innovation The rate of decline will accelerate now - because smaller pools create self fulfilling issues. https://lnkd.in/dV2328zA

McLaren Racing's first F1 Constructors' Championship in 26 years is the crowning glory in a truly remarkable 8-year journey for Zak Brown. Since joining in 2016 and assuming the role of CEO in April 2018, few figures in the Formula 1 paddock can claim to have had such a transformative effect on their respective teams as Brown has had on McLaren. The second most successful team in F1 history were in pretty dire straits when he took over as CEO, having finished the 2017 season in ninth place in the constructors' standings and recording documented losses of £100m. Their struggles were painfully visible not only on the timesheets, but on the near-empty livery of the car, which featured only a handful of sponsors. After steady improvement on the track in the first couple of years, the £185m investment from MSP Sports Capital in December 2020 was a key step forward, as this strengthened the financial position of the team and allowed them to not only look at progression in F1, but also other series - where they now of course compete in IndyCar, Formula E and Extreme E. It was assumed that the commercial side of the team would receive a major boost under Brown's leadership, given his sports marketing background and the success of his JMI business, later acquired by CSM. This has proven to be the case, with McLaren now boasting more partners than any other team on the grid - a quite remarkable 55 in total. With the team now top dog in F1, competing in four major championships, commercially valued at over £2bn (versus £560m at the time of the MSP investment in 2020), and with two potential future world champions in Lando Norris and Oscar Piastri locked into long-term deals, it's safe to say the future is looking infinitely more positive for the team compared to when Brown arrived. #f1 #formula1 #mclaren #motorsport #sportsbiz

🏍️ [Sports Biz News]🇺🇸 Dunlop launches a new program to support amateur road racers in America👏 Dunlop Motorcycle Tires continues its official tire support for MotoAmerica while expanding its successful amateur racer support program to selected amateur road racers.   This initiative aims to provide a clear career path from amateur to professional, highlighting the performance benefits of using Dunlop tires. It also enhances brand engagement through social media features and nationwide advertising campaigns. The Team Dunlop Road Race program will start at the Mission Mini Cup by Motul National Final from August 9-11 at Road America. Riders will have the chance to earn the first two Team Dunlop Elite sponsorships for the 2025 season. Benefits include free allocated tire supply, national ad inclusion, exclusive apparel, and more. Additionally, winners of the MiniCup 160 and 190 classes will be awarded the first two Team Dunlop Elite program sponsorships during the 2024 Mission Mini Cup by Motul National Final. Dunlop hopes this new program will help riders progress to the professional ranks, much like their motocross alumni. The program will support riders with allocated tire supply, inclusion in national advertisements, and unique apparel, among other benefits. Dunlop plans to announce more details about application processes and additional sponsorship opportunities in the coming weeks. #glocalsportsnews #sportsmarketing #sportsnews #sportsbusiness #marketing #branding #pr #brandingstrategy #marketingstrategy #prstrategy #businessstrategy #advertising #motoamerica #bikeracing #amateurrace #dunlop #motorsports #racingfans #motorcyclelife