Fixed-odds betting on horse racing launched on Wednesday in...

Fixed-odds betting on horse racing launched on Wednesday in Colorado after racing constituents in the state reached an agreement that will allow fixed-odds betting on racing signals imported to the state, according to the parties.The agreement allows Bet365, a British company with operations in the U.S., to offer fixed-odds bets from tracks around the world, including two U.S. tracks, Evangeline Downs and Delta Downs, both in Louisiana. The agreement required consents from Arapahoe Park, the state’s horsemen, and the racing commission.The racing signals are being provided by Sports Information Services, a simulcast and data marketing company that has long been pressing the U.S. racing industry to offer fixed-odds betting on racing. Under fixed-odds betting, bettors receive the odds on a horse at the time they place a bet, in contrast to the pari-mutuel system, in which odds fluctuate until the close of betting.Only two states, Colorado and New Jersey, have devised regulations on fixed-odds betting on horse racing since the landmark Supreme Court decision in 2018 that allowed states to authorize sports betting. Monmouth Park, a track in New Jersey that is operated by the state’s horsemen, launched fixed-odds betting in 2022, initially limited to the track’s own races. The menu expanded last year to include races from a handful of other tracks.
Unlike at Monmouth Park, where fixed-odds horse race betting is available at the track and on a mobile app dedicated exclusively to racing, the Colorado races will be available on Bet365’s sports betting app, so players will be able to build parlays using race and sports bets. Sports Information Services controls content from more than 140 tracks globally, so fixed-odds on races are expected to be offered on Bet365’s app nearly round-the-clock, every day.