Tomas Molloy, Sportsbook Product and Trading Director, Pronet Gaming
“It boils down to the number of events that can be put in front of the customer, in what’s now a global sport. Racebooks very often feature races from over 20 countries, with up to 5,000 races per week. When we expanded into horse racing this year with BetMakers, we gained access to over
250,000 races every year and live streams of up to 2,500 races per week.” Thomas Molloy
Popularity of sports should always be the first factor to consider. If that exists, then there is an opportunity to grow popularity of events like horse racing to fill gaps in the calendar, and in many cases – this can be very lucrative.
Australia is a good example of this – look at the Spring Carnival, where they have successfully cultivated a huge following during the traditional lull period between football and cricket seasons, carving out a key place in the sporting, and thus betting, calendar for racing. It becomes easy to promote and enjoy, and given its prestige, it can strongly appeal to all generations and demographics.
Paul: A different approach is required when offering horse racing content in emerging markets, particularly if the region has little racing heritage. From our experience, it boils down to closely supporting operators who are new to the sport and making the content more relevant for their specific audience.
In markets across Eastern Europe, we have seen that bettors with little knowledge of horse racing can still find the betting experience enjoyable. It means placing a greater emphasis on offering markets that are easier for newcomers to understand. Tis has proven to drive betting engagement in areas across the globe that traditionally have not been associated with horse racing.
Tomas: Rights holders play a crucial role in ensuring that racing is funded properly. We are seeing a very similar movement emerge in racing to what has played out with sports rights data
across other sports, often leading to litigation. As we see it, racing needs to be funded properly to become sustainable. Te margin that race betting offers allows for fees to be paid back into the sport while still allowing the operator to make a healthy profit.
Morten: Naturally, commercial factors are a major consideration. You also need strong information on the race card to inform betting decisions and the availability of live streaming so that punters can watch the action.
Tere hasn’t traditionally been too much interest in UK racing in many other countries. Differing time zones play some part in that, but now we are starting to push UK racing in African markets. It is an interesting project, particularly because we are one of the first providers to be pushing such products in the region. We believe our offering is strong and we are hopeful that the take-up will be very positive.
What drives demand for racing betting outside of markets with an established appetite for the sport?
Paul: Te availability of racing content across all hours of the day is very appealing to sportsbooks worldwide. Operators are constantly demanding new content to meet the growing expectations of their customers. Even those sportsbooks that operate in jurisdictions that have little association with horse racing are discovering the sport is a valuable and engaging betting product, delivering sustained levels of betting activity.
With quality race meetings taking place daily across different time zones, horse racing provides operators with a greater frequency of betting opportunities. At SIS, we have a market- leading range of UK and international racing, so operators can take advantage of our 24/7 Live Betting Channels to help provide an engaging betting experience to their customers throughout the day.
Morten: Looking particularly at Africa, punters love to have the chance to win big. All that is needed is to put together a couple of horses on the same betting slip and they can achieve just that. You also have key factors such as live streaming and fast-paced, exciting action, which drive engagement and ensure a positive experience.
Tomas: It boils down to the number of events that can be put in front of the customer, in what’s now a global sport. Racebooks very often feature races from over 20 countries, with up to 5,000 races per week. When we expanded into horse racing this year with BetMakers, we gained access to over 250,000 races every year and live streams of up to 2,500 races per week.
It also allowed us to offer SameRaceMultis, with accumulator bets able to be placed within a single race. Tat is a particularly attractive option for those markets where customers want to spend little with the chance of winning big.
Alex: It’s all about continuous events and fixtures. Racing offers an action-packed schedule nearly every day of the year, and much like esports or casino, these races go off at extremely regular intervals. Races are something you can bet on anytime you want to get in on the experience as it’s truly global, whether that’s Cheltenham in the UK, Santa Ana in California, or Ellerslie in New Zealand, making it truly 24/7. Streaming has also come in leaps and bounds, meaning that you can effectively have round-the-clock racing TV via your betting operator of choice.
Tis frequency is exactly what drives the appetite and given its global reach, it is certainly not limited to a specific region. Of course, horse racing has very strong societal acceptance for many countries given its place in popular culture, which easily outstrips and other betting event.
Given this history, it’s a prestigious sport, and this attracts those who may turn away from the less glamourous side of betting, whether that be minor football leagues or other less notable sporting fixtures Such prestige is always going to be something that many will want to share and talk about, which creates further brand capital.
What impact has technology innovation had on the provision of racing data? Who benefits - operators, suppliers, or punters?
WIRE / PULSE / INSIGHT / REPORTS P59
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