Win, place, exacta – Consumer behaviour in the Hungarian market of horseracing betting

Abstract

THE AIMS OF THE PAPER

The aim of this paper is to define the areas to be developed and the potential visitor and bettor target groups in the Hungarian horseracing sector, in particular to define the differences between gender, age groups and professional involvement. Based on the revealed consumer behavioural patterns marketing actions are drawn up to improve the awareness and attendance of Hungarian horseracing.

METHODOLOGY

Following the literature review the quantitative research has been prepared based on the studies of horseracing in the developed countries and the author’s raceday experiences. The online survey about horseracing attendance and betting practices was completed between August and October 2017. 204 respondents out of the horse lover population participated in the non-representative research with more than three quarters already attended horseraces, so their raceday actions and attitudes were examined.

MOST IMPORTANT RESULTS

Those who have already placed a bet on horseracing are more likely to try more types of other gambling games, than those who never played, especially men over the age of 40, who are the main target group in horseracing betting. Small bettors appear in large numbers at big events, but rarely come back. Online betting can address a new target group: the young, conscious, comfort-minded, modern bettors. Another important target group are those who are professionally involved as they spend more on bets than non-professionals. Also these professionals are those who see that higher levels of price money increase the quality of racing.

RECOMMENDATIONS

In the marketing activities of Kincsem Park, the communication message for the promotion of online betting for the youth should include the feeling of comfortable betting: the possibility of avoiding queues, transparent, easy-to-select combination games and cashless bets. The prestige value of owning racehorses must be restored to the public awareness, so that the racedays become a favourite pastime for the Hungarian business elite. However this requires the development of hospitality at the racetrack according to the expectations of men over 40, as they are the main target group of betting. According to the international models, the quality of racing has to be increased with higher levels of price money from the increasing betting turnover or launching with state support.