Summary: The Australian Awesome Racing Industry

Background and Introduction

The Australian thoroughbred racing industry has developed into a large and important component of our nation’s economy, injecting over $7.7 billion dollars into the Australian economy annually (Gauci, 2010). However, it is well known for it’s significant amount of wastage associated with the breeding, training and racing of thoroughbreds, which has significant ramifications for both the economic sustainability, and the public perception of racing (Thomson, 2014). The term “wastage” has been used to refer to losses that occur at all stages of development of a racehorse (Bailey, 1998). Australia produces on average the second highest number of thoroughbred foals in the world each year. Thus, this high production rate

It is estimated that out of 1000 pregnancies in Thoroughbred Australian mares, only 300 foals will actually start in a race, with the remaining being rejected due to poor performance, illness, injury or behavioural problems (RSPCA, 2016). This is due to the fact that the racing industry operates on high turnover, as it is an industry where making a profit is extremely difficult. Therefore, the industry is churning out all these horses with no contingency plan for when they can no longer race. Consequently, it is vital to discard those horses as soon as possible after deciding that they are unprofitable (Australian Racing Board, n.d.). However, the fate of these thousands of horses exiting the industry every year raises serious concerns for their welfare, with the majority of ex-racehorses ending up at the knackery (Leste-Lasserre, 2015). On the other hand, although the overbreeding of racehorses contributes directly to the high levels of wastage produced by the industry, the high focus on wagering is also a significant factor contributing to the wastage in the thoroughbred

Thoroughbred horse racing is the largest economic sector of the horse industry, injecting over $7.7 billion dollars annually to the Australian economy, and approximately $0.76 billion to Australia’s GDP (Gordon, 2001). Additionally, the Australian thoroughbred industry employs a significant amount of Australian employees, employing over 240,000 people, 77,000 of whom are full-time employees (Gauci, 2010). Furthermore, apart from the economic benefit of thoroughbred racing, horse racing is an important part of the fabric of Australia’s culture, with the Melbourne Cup known as the “race that shops the nation”, attracting 150,000 people every year (Australian Government, 2013). Thus, demonstrating that despite the negative aspects of the industry, there are significant benefits towards the culture and economy of Australia as a result of the Australian thoroughbred