New York Senator Wants to Add Fixed-Odds Horse Racing to State’s New Mobile Betting Market

blueline

EOG Master
In a statement to Casino.org, Pat McKenna, senior director of communications for the New York Racing Association (NYRA) said the organization that operates thoroughbred racing at Aqueduct, Belmont Park, and Saratoga Race Course supports Addabbo’s bill.

“Allowing horse racing content and wagering to coexist within the mobile sports betting marketplace would grow the sport in New York, deepen the industry’s economic impact and attract new fans,” McKenna said. “It would expand consumer choice by placing premium horse racing content on the same mobile shelf as other professional sports, which would generate $1 billion or more in additional gaming revenue for New York State.”
 

blueline

EOG Master
from the guy who runs MTH :

"...I think fixed-odds are, quite frankly, the future of the sport. It may be slow to start, but five years from now it will be a significant part of the handle."
 

John Kelly

Born Gambler
Staff member
Horseplayers cross over to sports betting with a natural ease whereas young sports bettors seem to have little or no interest in learning about the Sport of Kings.

And I'm old enough to remember The Sport of Kings establishment across the street from what was then the Las Vegas Hilton.

The Sport of Kings made a failed attempt, albeit a gallant one, at offering fixed-odds wagering.

The high-end players, unfortunately for the house, knew too much.

Some outcomes at northern California racetracks like Bay Meadows and Golden Gate Fields were preordained.
 

blueline

EOG Master
sometimes I wonder if I had to teach handicapping to someone who knew zero about the game how/where would I start ( tell them not play/run away)...got that joke out of the way
 
Whát's fixed odds betting going to do? Increase the handle 10% but cut bookmakers profit by 80%? Surprised anyone even wants to offer this on anything but major races.
 

John Kelly

Born Gambler
Staff member
The Sport of Kings had limits with their fixed odds offerings and yet they still had problems with the wiseguy action.

Though it was losses in the sports book that eventually caused the doors to close.

Never a good thing for a race and sports operator when your largest bettor (Billy Walters) has more bullets than you.
 
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John Kelly

Born Gambler
Staff member
With fixed-odds wagering, the house only takes a limit bet when the linesmaker has made a significant error.

That was Bruce Karp's experience in 1993.

Karp was the oddsmaker on the race book side of the Sport of Kings.
 
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Viejo Dinosaur

EOG Master
The Sport of Kings had limits with their fixed odds offerings and yet they still had problems with the wiseguy action.

Though it was losses in the sports book that eventually caused the doors to close.

Never a good thing for a race and sports operator when your largest bettor (Billy Walters) has more bullets than you.

Our friend Jack L was in charge when the Sport of Kings met its fate…he then migrated to Costa Rica to run CRIS…I had the pleasure of working with him for several years…
 

John Kelly

Born Gambler
Staff member
Our friend Jack L was in charge when the Sport of Kings met its fate…he then migrated to Costa Rica to run CRIS…I had the pleasure of working with him for several years…

I first met Jack when he was running the Riviera race and sports book.

I'd guess 1987 or thereabouts.

Great guy.

As I recall, Lysaght was booking high in the days before Sport of Kings went belly-up.
 

John Kelly

Born Gambler
Staff member
Riviera with the glass tops and the 2 black push-buttons... one for up channel up...one for down

That's when some Las Vegas casinos catered to horseplayers.

Not anymore.

When Cantor and William Hill arrived in town, it was the beginning of the end for Nevada's race book industry.
 
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