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Fixed-Odds Horse Racing Wagering Debuts in Colorado

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 Cup Day Feb. 24 and Dubai World Cup meeting Mar. 30. Additionally, year-round racing is available from 14 countries, including Ireland, Australia, Chile, Argentina, Uruguay, and the United States.

“This is a great first step in expanding the horse racing audience and I commend the Colorado horse racing stakeholders, Colorado Division of Gaming and bet365 for their vision and support,” said Michele Fischer, Vice President, SIS Content Services. “Horse racing provides sportsbooks with exciting year-round 24/7 content throughout the world. It will take time in the US, but I expect that more sports wagering operators and states will include horse racing on their sports catalogs.”

The SIS platform also includes live-streamed video with betting triggers, race day data, and an extensive range of markets and odds prices.

Shannon Ruston, Executive Director of Operations & Racing at Bally's Arapahoe Park, said: “We are thrilled to be able to put horse racing on Colorado sportsbooks for fixed-odds wagering. Working with SIS, we crafted a commercial framework that benefits local racing, while giving sportsbooks access to thousands of races. Our belief is that this development will secure a better future not only for Arapahoe Park, but also for the racing ecosystem as a whole in Colorado.”

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Woodbine’s 2023 Thoroughbred Meet Produces Mixed Results

Woodbine Entertainment's 2023 Thoroughbred season produced an all-sources handle of $613,125,180 CAD, which was the second largest single-season recorded, but that overall number was down $8 million from 2022, the organization said in a release Wednesday.

In 2023, a total of 1,180 races were contested over 128 dates of racing compared to 1,198 races over 132 dates in 2022. Woodbine ran four less dates and 18 less races in 2023 due to an unprecedented number of cancelled race cards (five) because of extreme heat and poor air quality caused by smoke from forest fires across Canada. The average field size for those races was 8.2, the same as 2022, and above the industry average.

In Ontario, wagering on Woodbine Thoroughbred racing by customers across the province was down 6.2% ($81.8 million this season vs $87.2 million in 2022).

The decline in home market wagering was partially mitigated by a foreign market handle of $512 million, a decrease from $515 million in 2022, though still a remarkable gain from the previous record of $420 million in 2021. The $512 million in foreign market handle was supported by a strong U.S. dollar.

The average handle per race in 2023 was a record $519,597. This is an increase of $580 per race from 2022.

To address the increased competition from an emerging licensed sports betting market, Woodbine Entertainment announced a partnership with global sports betting leader bet365 prior to The King's Plate.

“We are operating on a very solid foundation that positions us well to manage the current industry and economic trends,” said Michael Copeland, CEO, Woodbine Entertainment. “We also have opportunities before us that have not been fully realized yet, like the integration of racing into licensed sportsbooks, which will have a positive impact.”

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Woodbine And Bet365 Bring Horse Racing To Ontario Bettors

Woodbine Entertainment and bet365 have made horse racing now available to Ontario sports bettors, the track said in a release Friday.

“This a great day for Ontario sports bettors and especially for the horse racing industry in the province,” said Jim Lawson, CEO, Woodbine Entertainment. “For over a year, we have been working hard with regulators, government agencies and our partners at bet365 to develop the technology and satisfy all requirements to allow players to access pari-mutuel horse racing betting products using accounts with legal gaming operators in Ontario with the customer experience at the forefront. Betting on horse racing in Ontario is now on its way to becoming more accessible than ever.”

In addition, Woodbine Entertainment and bet365 created a four-year marketing partnership, in which the latter receives naming rights for the apron winner's circle, inner turf course and paddock. Additionally, bet365 will have naming rights for stakes races throughout the year.

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