Tomas: Additional information, readily accessible at the fingertips of punters, helps to drive operator turnover and serves to increase both the confidence of the customer in placing a bet and the social licence of the sport. Every stakeholder benefits from the increased provision of racing data in all its forms.
Morten: At the moment, it is a very difficult customer journey to place a bet once a race has started. We are at the stage now where data and odds movement are more-or-less automatic, so that makes it easier to manage risk. Despite this, I can’t see live betting being successful for the wider public unless you can produce a compelling product using pre-set parameters – for example, if my horse is in the lead with 500 metres to go, then the punter can click a box that states a bet can then be placed on that selection. However, I don’t think anyone is close to allowing for automatic bets to be placed in- play.
Alex: First, data is what drives this growth. Te modern player has grown up with data-driven betting, and they expect a whole array of statistics, and this is what helps study the form, and provide an informed incentive to bet. Tis data transparency is exactly what allows us to create fixed odds betting, and it has excellent potential.
With data flow, all these aspects (weather, jockey, going, etc) can be considered to drive interest, and in turn, betting. If this data is reliable, then you can build a very accurate picture of predicted outcomes for races. Data transparency also can ‘de-fraud’ the industry – as it allows operators and regulators to evaluate the data from an accurate picture to ascertain whether a race is ever fixed.
Paul: Te advancement of technological innovation has had a significant impact on the racing industry when it comes to racing data. Tere is some great work being done across the globe, which is ultimately benefitting the entire horse racing world. At SIS, we have boosted our data and trading capabilities through our recent investment in the Australian racing data science company RACELAB GLOBAL.
We are now able to utilise RACELAB’s automated quantitative modelling platform that accurately measures runner performance using a globally standardised format for all racing codes, which is then applied with all relevant upcoming race statistics to generate market leading betting prices. Trough the partnership, SIS is now able to gain instant access to a complementary suite of next generation technology products and services, which will massively benefit our operator customers, while also ensuring that bettors can access the best odds and prices.
William Woodhams, CEO of Fitzdares, recently told G3 that UK horse racing is too fragmented and needs a 'benign dictator'. Do
P60 WIRE / PULSE / INSIGHT / REPORTS
Paul Witten, Commercial Director, SIS
“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. This has proven to drive betting engagement in areas across the globe that traditionally have not been associated with horse racing.” Paul Witten
you agree? Is the sport doing all it can to maximise the Levy funds it receives as the number of retail shops taking up media rights continues to fall?
Morten: From a commercial perspective, there are still significant hurdles that are placed before content can be enabled on a sportsbook. If you are a small operator looking to offer horse racing, the costs involved mean that it simply isn’t feasible. Tis means that content ends up being funnelled towards the big operators and leads to less flexibility and a reduction in innovation. If the racing authorities impose a levy on turnover, then they also need to remove the obstacles placed in front of operators to ensure that turnover flows freely.
Paul: SIS is fully committed to supporting the UK market and remains a key component of the value chain. Moving forward, it’s incredibly important that the entire UK racing industry, including bookmakers and suppliers, collaborate successfully to deliver quality racing content to bettors across the UK.
For example, in partnership with Racecourse Media Group, we recently announced that we have concluded a deal for the extension of our rights to distribute and transmit audio-visual and data from British racecourses, from 2023 to 2026, to licensed betting offices across the UK and Ireland. Entain became the first company to sign up to receive this content post-2023, ensuring a deeper partnership between all parties and the wider horse racing industry.
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