Get ready for horse racing, Formula One-style

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Organizers hope the new format will “turbo boost the audience, prize money and participation growth rates” of the sport, similar to how the Twenty20 format has aided cricket.

The CHR’s website also states it hopes The Series “will showcase the pure excitement of the sport”, as well as distancing it from gambling.

It also aims to attract more casual fans, dismissing the idea “that ‘expert’ knowledge is a pre-requisite to following the action.”

Gambling — or “having a punt” in British parlance — is a staple of life in the UK, particularly on big horse racing days.

Racing is of huge importance to the British economy. After soccer, it is the UK’s best attended sport, with a total economic impact of £3.45 billion ($4.76 million), according to a 2013 report by consultancy firm Deloitte.

“Jeremy and his team are bringing a really far-thinking approach to the offer they’re taking to market for brands to get involved,” said Simon Bazalgette, group chief executive of The Jockey Club, which runs 15 racecourse venues in Britain.

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