As the threat of equine flu still lingers in the air, an overview of the losses within the industry draws our attention towards the bookmakers who are set to recover their recent losses.
The precautionary method to prevent the spread of the disease saw the recent 6 day nationwide shutdown for UK horseracing, leading to significant profit losses across all sectors within the industry. For bookmakers alone, an industry-wide estimate sets the figure at around a £10m loss of gross winnings, with further losses for the likes of venues, sponsors and horse owners.
Although the shutdown only lasted a short period of time, losses are losses, and this can be detrimental to a bookmaker’s yearly profit forecasts. As the British Racehorsing Association (BHA) puts forward the suggestion to reschedule the lost fixtures, it is clear that that the losses for both the venues and bookmakers are significant, and a matter that is encouraged to be recovered.
The adjusted yearly forecasts for bookmakers are likely to have already taken an influence on their daily betting odds, cumulatively recovering their losses in an untraceable fashion. So, whether or not horse racing is your preferred wagering sport, one thing to note is the potential for more market mispricing opportunities across all sports, providing more chances to utilise our betting algorithm to beat the bookmakers!