by Bob Duff
When the door was opened across the USA to legal and regulated online sports betting in the spring of 2018, a decision was made that the oldest form of legal sports betting existing across the nation, horse racing, would remain an entity separate from wagering on all other sports.
That landscape, though, is slowly changing.
Bet365 is breaking new ground in terms of the relationship between horse racing and online sports betting sites in the state of Colorado. And plans are in the works to ultimately bring this new era of wagering on horse racing into the lucrative New Jersey market.
In partnership with BetMakers, British-owned Bet365 is now offering fixed odds wagering on horse racing from around the globe on their online sports betting site and sportsbook app in the Centennial State.
In Ontario, bet365 and the Woodbine Entertainment Group (WEG) reached an agreement in 2023 to begin offering pari-mutuel wagering through the Woodbine pools. This latest agreement is certainly breaking new ground, however. By offering fixed odds wagering, you lock in your price at the moment you place your bet. There’s no fluctuation from the pari-mutuel pool impacting your odds.
BetMakers is providing the technology to enable bet365 to offer fixed odds race betting. The two sides have entered into a two-year agreement.
Jake Henson, CEO of BetMakers, believes this is a factor that will resonate with horse bettors in the U.S. market. Fixed-odds wagering on horse racing in Canada still remains illegal.
“The sports betting market in the U.S. is starting to mature and the interest from operators in horse racing as a product is expected to become even stronger,” Henson said in a statement. “The high frequency of horse racing can deliver high engagement and high margin returns to operators.
“We believe the opportunity for both BetMakers and the racing industry more broadly to be significant in the long term.”
For the time being, BetMakers is focusing on thoroughbred racing. When we checked in with the bet365 online sportsbook site in Colorado, they were offering fixed odds wagering on racing from Philadelphia Park, as well as tracks in Australia, New Zealand, South America, Ireland and the United Kingdom.
At the present time, with fixed odds markets only being offered in one state, this doesn’t figure to be making a difference in terms of wagering on horse racing product in the USA. Long range, though, this certainly is presenting the potential to be an impactful move in the world of betting on horse racing.
In Britain, where bet365 is based, there’s long been a productive marriage between the betting sites and the racetracks. Online sportsbooks across the UK are offering fixed odds wagering on UK and international horse racing. In fact, many sites promote themselves as guaranteeing the best odds in the UK. If you can find another site offering a more lucrative betting line, that rival site will guarantee you that price.
Will we get to a point in the U.S. market where things are similar? Who can say? What is known for certain is that in the six years since widespread legal and regulated sports betting was launched across the nation, much has changed, and often those changes are coming in rapid fashion.
Sports betting apps, live betting, live streaming, same-game parlays. The betting market is ultra-competitive and all sites are always seeking an edge, a leg up on the competition. If fixed odds wagering on horse racing proves popular, it will only grow in scope and stature. And if that’s resulting in more people wagering on horse racing, it just might not be such a bad thing for the industry.
At almost the same time as they were launching fixed odds wagering on horse racing at their Colorado online sportsbook, bet365 was also embarking upon another method to offer betting on the sport of kings. They were entering the advance deposit wagering realm.
The bet365 racing app is offering racing from all of the major horse racing tracks around the globe. Prominent North American tracks include Gulfstream Park, Santa Anita Park, Churchill Downs, Saratoga, Belmont Park, Del Mar, Keeneland and Oaklawn Park. There’s also racing from the UK, Australia, New Zealand, Canada and Hong Kong, among other nations. They offer wagering on thoroughbreds, harness racing and even steeplechase racing.
You’ll be able to bet on all of the major events in the horse racing world, such as the Kentucky Derby and all three legs of the Triple Crown, the Pegasus World Cup Invitational and the Breeders’ Cup. Live streaming of all races is available on the bet365 racing app.
The bet365 racing app is currently being offered in 38 of the 50 U.S. states. Legal states include: Alabama, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Montana, Nebraska, New Hampshire, New Mexico, New York, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Dakota, Tennessee, Vermont, Virginia, Washington, West Virginia, Wisconsin and Wyoming.
In order to place a wager with the bet365 horse racing app, you must reside in one of the states where it is offered. You also must be 21 years of age to wager, unless you live in Kentucky. There it’s legal to bet on racing at the age of 18.
Bet365 is the fourth online sportsbook in the U.S. market to move into the ADW realm. They are joining BetMGM Horse Racing, DK Horse (DraftKings) and FanDuel Racing.
TVG, the ADW owned by FanDuel, was rebranded in the majority of states as FanDuel Racing. It’s offered in 28 states. Launched in partnership with the Churchill Downs-operated Twin Spires, DK Horse is available in 20 states. Working in tandem with NYRA Bets, BetMGM Horse Racing is operating in three states.
