INSIGHT SPORTS BETTING
Fixed Odds Horse Racing
Michele Fischer, VP SIS Content Services Inc., highlights the need
for horse racing to evolve to ensure the sport becomes a mainstream betting product across the US.
Can you be considered a mainstream sport if you are not on a sportsbook? For horse racing in the US, this is a question that the sport must consider. For all the excitement and positivity concerning legalised sports betting, horse racing is excluded from the conversation in most of the 30 states that have embraced sports regulation.
For a sport with such a proud history and long association with betting, it is inconceivable to imagine that horse racing is not included within these modern day,
P40 WIRE / PULSE / INSIGHT / REPORTS
regulated sportsbooks that are in exponential demand from bettors. Unfortunately, however, that is the position that horse racing currently finds itself.
Ultimately, US horse racing will be left behind if the sport and industry does not evolve. Terefore, it is vital that horse racing is brought to the attention of casual bettors, which means having a presence on sportsbooks.
In my view, and an opinion shared by an increasing number of stakeholders within racing, fixed
odds betting presents a solution to secure the sport’s long-term future as a US betting product.
Te fixed odds format is already familiar with a broad audience, allowing sportsbooks to attract and engage with bettors at scale. Tis will fundamentally assist the sport to become self-sustainable, which evidently is not the case at present in most states. While US 2021 pari-mutuel wagering reached increased handle levels that had not been seen since 2009, the industry purses are fueled by VLT and HHR revenue.
ENCOURAGING STEPS FORWARD
Fixed odds betting is slowly coming to fruition for horse racing, as several states have begun the move to introduce legislation. New Jersey’s efforts are well documented, but the state’s complex legislation means that progress has been limited. Intriguingly, it does not fall under horse racing or sports wagering. In fact, it is based more on implementing fixed odds betting at a racetrack rather than within a sportsbook.
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116 |
Page 117 |
Page 118 |
Page 119 |
Page 120 |
Page 121 |
Page 122 |
Page 123 |
Page 124 |
Page 125 |
Page 126 |
Page 127 |
Page 128 |
Page 129 |
Page 130 |
Page 131 |
Page 132 |
Page 133 |
Page 134 |
Page 135 |
Page 136 |
Page 137 |
Page 138 |
Page 139 |
Page 140 |
Page 141 |
Page 142 |
Page 143 |
Page 144 |
Page 145 |
Page 146 |
Page 147 |
Page 148 |
Page 149 |
Page 150 |
Page 151 |
Page 152 |
Page 153 |
Page 154
