In a world where racing – and punting – faces headwinds, a beautiful set of numbers should give our sport every bit of confidence that it’s a crucial cog in a modern society.
As the betting companies try and convince politicians why advertising reforms shouldn’t be too onerous, and our state bodies work to ensure racing gets its fair share of revenue, the key answer to racing’s future is really quite simple.
Racing – love it or not – contributes billions to the Australian economy.
It is also a massive driver of jobs – nearly 34,000 in Victoria alone, according to a new report.
The 2026 Size and Scope of the Victorian Racing Industry report by consultancy group IER should sit on the desks of every MP who shows a disinterest in racing.
Or in the extreme cases, lobby for it to be shut.
Victoria’s racing industry alone contributes $5.54 billion annually to the state’s economy and supports 33,456 full-time equivalent jobs, according to the IER report.
That’s an 18 per cent increase in economic contribution since the previous study.
The report alleges the racing industry now accounts for almost 100,000 participant, employee and volunteer roles across the state.
But the kicker – and no doubt the reason the Victorian premier herself came out to preach the importance of racing on Wednesday – is what the sport does for regional Victoria.
Victorian Premier Jacinta Allan is a country MP after all. Many believe her understanding of country trainers is a big reason racing [and especially harness racing] have been well looked after by the current state government.
Allan appeared next to Racing Minister Anthony Carbines and Racing Victoria CEO Aaron Morrison on Wednesday.
All sang from the same hymn book – there is far more to racing than having a punt. And they are right.
The same report reckons that 46% of racing’s economic impact is generated in regional areas, while 65 per cent of the industry’s $3.9 billion in direct expenditure occurs outside metropolitan Melbourne.
Almost 80 per cent of all racing roles are also based in regional Victoria.
In some of those regions, unemployment is a massive issue. The report is gold.
The numbers were impressive in Queensland too.
Queensland’s racing industry generated a record $2.5 billion in economic value during 2024-25, up almost $50 million on the previous year, with independent analysis showing the industry’s contribution has more than doubled (104 per cent growth) since 2015-16. Full-time employment has also risen 47 per cent over that period to 13,994 jobs, while the thoroughbred code accounts for the bulk of the impact, contributing $1.93 billion to the state’s economy.
And as anti-gambling lobbyists continue their push against racing and its impacts, the report too highlights racing’s contribution to local communities.
The report found racing clubs continue to play a major community role, with 78,000 club members and more than 1.6 million attendances at Victorian race meetings during the 2024-25 season. More than 560 community organisations use racing club facilities, while the industry’s three codes helped raise almost $5 million for 960 charitable and community groups.
They are a beautiful set of numbers.
“The report findings reinforce that racing is much more than a sport – it is a major contributor to Victoria’s economy, a significant employer and an important part of communities right across the state,” Racing Victoria CEO Aaron Morrison said.
Racing – and those who rely on gambling – face an uncertain period as the politicians look at serious changes that will impact how punting looks in the future.
Many fear it will impact racing.
Racing Victoria, who to their credit have strong relationships with the state government, should send this report to every MP.
Even those inner-city MPs who have never set foot on a racetrack.
Racing, which most of us enjoy as the terrific sport it is, has been and remains a crucial part of the Australian fabric.
Victorian Greyhound Racing boss Stuart Laing said it best.
”Behind the economic figures are thousands of Victorians whose lives are connected to racing.”
Too often the sport is viewed through a prism of advertisements from wagering operators, that racing and punting is the same thing.
They’re connected, but they’re not identical.
Racing is an industry that heavily contributes to regional communities, creates jobs and contributes billions to state economies.
As the report shows, there is plenty to be proud of.
