Horse racing is one of the most ancient forms of betting, but is witnessing a much-needed technological revival.
Some industry leaders want to capitalize on the fact that there are fewer sporting events to bet on over the summer, and the explosion of online app use. One track that’s hoping to lead the pack is Saratoga.
Saratoga’s 40-day meet is underway. The New York Racing Association oversees Saratoga, and President David O’Rourke is excited about the potential this year may hold. He told DRF, “Saratoga’s always a breath of fresh air for horse racing,” O’Rourke said. “We got a nice opening card, we’re looking to kick it off on a strong foot.”
The combination of the expansion of U.S. sports betting, the growing database of customers, and more customers being exposed to horse racing are getting the credit for the resurgence of interest in the sport.
Saratoga Coming Off Great Year
Another reason they’re looking forward to this year at Saratoga is because of how well the track did last year. Nearly 40% of the $2.32 billion NYRA handled in 2022 came from the summer in Saratoga. They set a record by handling $878,211,963 during their 40-day meet (between mid-Juy and Labor Day).
The great weather helped a lot, allowing them to run 199 races on the grass, the fourth highest in the track’s history. Last summer, only 17 races had to be moved off the grass.
Overall, more than $290 million was wagered on horses at racetracks in the Empire State last year.
FanDuel Voted Best Horse Racing App
The legalization of sports betting across the country is also helping. And hoping to cash in and catch the eye of even more bettors, four online sportsbooks are prominently showcasing their horse betting apps this summer:
- Caesars
- FanDuel
- DraftKings
- PointsBet
But according to a report from Eilers & Krejcik Gaming (EKG), FanDuel provides the best horse racing betting experience.
Their researchers say the mobile betting application is at the forefront when it comes to betting on horses. Partly because FanDuel Racing is built directly into the FanDuel Sportsbook app and features shared-wallet technology.
As the biggest operator in the online sportsbook space by a significant margin, FanDuel is dictating the tempo in the mobile application landscape for horse race betting. Apps from other companies that offer pari-mutuel betting (the predominant way to bet on horses in the United States) are relatively new compared to those for sports betting, and there are still some glitches to iron out.
“Apps generally did not score highly compared to their Online Sports Betting (OSB) counterparts, with testers reporting multiple bugs, broken buttons, and a dearth of payment options,” noted EKG. “That is not unexpected, given these products are all relatively new to the market and heavily reliant on third-party technology suppliers. But the missing polish compared to OSBs and OCs is noticeable.”
Even O’Rourke thinks that FanDuel, with its shared wallet technology, acts as a benchmark in the industry.
FanDuel Competition Stiffening
But that’s not keeping FanDuel’s competition from already stepping up. DK Horse, the racing app from DraftKings, was released in April, just before the Kentucky Derby. It aims to offer a full range of betting choices to its users.
PointsBet Racing also launched before the Derby. Its CEO called horse racing the third leg of their sports betting offering stool next to online sports betting and iGaming. One notable feature is the ability for users to access the racing app using that same login.
That’s not the case for DK Horse and Caesars Racebook. You must have separate registrations to access each of their horse racing apps.
Regardless, the future of horse race betting looks bright for many reasons, and it could start with a record-setting summer at Saratoga.
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