fixed-odds wagering

The Kentucky legislature has passed a sweeping bill that opens the door to fixed-odds wagering in the state and bars a cap being placed on the number of mares bred to a stallion there. In its final passage Wednesday, the 150-page bill passed out of the state House on a 64-19 vote, with 17 no-votes. It was delivered to Governor Andy Beshear's office on Thursday with a veto-proof majority. HB 904 was introduced into the state legislature by Republican Representatives Matthew Koch and Michael Meredith. Unlike the fluctuating odds that...

A floor amendment has been added to HB 904--a sweeping piece of legislation seeking to legalize fixed-odds wagering in Kentucky--that is designed to essentially ensure no limit can be imposed on the number of mares bred to a stallion in the state. It requires that the Kentucky Horse Racing and Gaming Corporation select and use an entity to act as "a registrar of Thoroughbreds" in the state, meaning it could choose an organization other than The Jockey Club, which is the current breed registry for the U.S., Canada and Puerto...

Last week, Republican Representatives Matthew Koch and Michael Meredith introduced into the Kentucky state legislature a sweeping gambling bill with several key components, including legalized fixed-odds wagering in Kentucky along with efforts to essentially expand and modernize its gambling infrastructure. Unlike the fluctuating odds that make up pari-mutuel betting, fixed odds is a form of betting in which the payout odds are set and agreed upon at the time the wager is placed. Crucially, they do not change. Among other aspects of the bill, it requires tracks and tote companies...

Fixed-odds wagering has already made it to states like New Jersey and Colorado. It could also be a fixture in Kentucky thanks to a bill just introduced into the state legislature by Republican Representatives Matthew Koch and Michael Meredith. HB 904 is a sweeping piece of legislation with several key components designed to essentially expand and modernize the gambling infrastructure in the state. The contextual background of this bill appears to be an attempt to seriously grapple with the impacts from Computer Assisted Wagering (CAW) on the betting pools. Unlike...

Joining New Jersey and Colorado, West Virginia has become the third state to legalize fixed odds wagering on horse racing. The legislation was fully completed Saturday and the state's racetracks, sports book and gambling apps can begin accepting the bets whenever they are ready to go. The Legislature passed the bill by a 55-43 count. "I am the general counsel and lobbyist for the Charles Town HBPA, and so that was the impetus for me trying to get this started," said lobbyist Philip Reale. "Fixed odds has been popular in...

The following represents the conclusion of this look at how long-term  trends in Thoroughbred racing have evolved to the point where a turnaround may be near in the sport's economic fortunes. To read part I, click here. For part II, click here.   Defining Development #6--Blessed are the Survivors As a matter of basic free-market economics, it is possible to view the past 30-plus years of contraction in U.S. races, racing dates, and racetracks as an unfortunate, but necessary adjustment to a changing competitive environment. The Thoroughbred sport, presented to...

The new reality of Computer Assisted Wagering's escalating presence in racetrack's pools and the emergence of horse racing as a fixed-odds betting product on sportsbooks were the focus of Thursday's second day of the three-day National HBPA Conference at Prairie Meadows. Discussing fixed odds on horse racing as a new betting product has become a fixture at the National HBPA Conference, led by industry consultant Michele Fischer, who also is vice president of SIS Content Services, a subsidiary of the largest horse-racing content supplier to global bookmakers/sportsbooks. But this time...

BetMakers has signed two-year market access and content agreements with the betting platform bet365 relating to fixed-odds wagering in New Jersey and Colorado, the Melbourne, Australia-based company said in a release. Bet365 will be licensed by BetMakers to offer fixed-odds bets on Thoroughbred racing to bet365 customers in the state of New Jersey and will also be licensed to distribute BetMakers' Thoroughbred racing content to bet365 customers in New Jersey and both Thoroughbred and Standardbred racing in Colorado.Bet365 will also be licensed to distribute BetMakers' Thoroughbred racing content to bet365...

by Walter Toner Rainy afternoon on Cape Cod and I had a few minutes to kill, so flipped the channel to TVG for a quick flutter. I selected the filly Just Like Magic, approaching the gate at 7-5 as the recipient of a $10 win wager in the 3rd race Oaklawn (3/28). She charged up the rail and won. Final odds were 3-5. WTF. Sorry for the crudeness. Racing will never engage the next generation of punters with 15-27% takeout and NO fixed odds, when they can bet on sports...

Fixed-odds horse racing wagering has been approved in Colorado. The deal was forged between SIS Content Services, part of the SIS (Sports Information Services) Group, and long-time operator partner bet365 to deliver its global horse racing content to bettors in Colorado. The approval of horse racing fixed-odds wagering on Colorado sportsbooks is intended to attract a wider range of casual bettors, who will be offered the same type of betting as all other sports. SIS offers a horse racing vast portfolio of international and domestic events, including the upcoming Saudi...

Monmouth Park and BetMakers Technology Group will partner for the fourth straight year as sponsors for the $1 million "BetMakers Bonanza" bonus for the connections of any horse that sweeps a series of three designated races, the organizations said in a release Friday. To earn the seven-figure bonus, a horse has to the win the GI TVG.com Haskell S. at Monmouth Park on July 22, the GI Travers S. at Saratoga on Aug. 26 and the GI Breeders' Cup Classic at Santa Anita on Nov. 4. "As part of our...

Fixed odds wagering at Monmouth Park last year didn't exactly break sharply from the gate. In its first run, it was available only on Monmouth races and, initially, only to on-track customers. A website that took fixed odds bets did get up and going during the meet, but regulations that would allow for bettors living outside of New Jersey to bet on fixed odds never did materialize. Handle figures were never made public, but it appeared that fixed odds accounted for only a small percentage of Monmouth's total handle. Yet,...