Greyhound Racing Introduction

Greyhound betting has surged in popularity over the past 18 months and is now the second highest turnover code behind Thoroughbred racing in Australia. Somehow it’s capitalised on Harness racing’s softness in such time.

Thursday night provides the highest quality of racing with the most ‘clear air’ looking at other sports schedules. NRL has now moved into the Thursday night slot, AFL more infrequently and Thoroughbred racing has added Pakenham night racing in most times excluding winter months.

The article below proves that ‘market makers’ move into the market 10 minutes from the scheduled start. Bettors or market ‘pickers’ look to be matched for serious volume tend to bet within the final minute of trade.

Market and Liquidity Formation

Time Distribution Of Bets Placed

The Time Distribution Of Bets Placed shows the progression of liquidity throughout each day across a week. The evenness points towards the spread of greyhounds racing, as opposed to many sports competitions and events that focus largely on weekend fixturing. Thursday night is a prominent time slot and it is reflected in the data, with the highest percentage coming on that day in correlation with the higher density of races typically provided.


Time Distribution of Volume

Time Distribution of Volume shows how the Market is formed, the key times of that formation and the amount produced. The Thursday influence is again clear, particularly ramping up into the night schedule as the peak reaches over $60 million volume. Monday are the next highest grossing day and that pattern of growth in volume as the day progresses and night racing commences is evident each day.


Liquidity Formation

The graph represents the Last 900 Seconds (15 mins) of Market and Liquidity Formation for Australian greyhound races. Put simply, it shows when punters are getting involved in the Betfair Exchange by placing their bets and the total value of those bets. There is a clear spike a few seconds before the boxes open, with liquidity almost non-existent before then. Possible explanations include increasing attention towards a specific race as the start time approaches and a greater willingness to trade when the greatest level of liquidity is available. These are also likely impacted by the frequency of greyhound races, in that short turnarounds in between multiple races and meets prevents a degree of earlier consideration.


Daily Volume – Australia

Daily Volume – Australia outlines the amount of money being traded in the Market day-to-day through a two month period, May 5 – July 8 used as an example. On average, $1.6 million turnover occurs on greyhound racing each day. The largest day produced over $2.5 million and this result could be attributed to Sandown, where the Group 1 Sapphire Crown, Harrison-Dawson and Sandown Cup were all held on May 25.

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