The world’s most famous horse race takes place on September 5. Make it an opportunity to promote your online racebook.
Like all sports in the United States, the coronavirus pandemic forced horse racing to call an audible.
Churchill Downs, home of the Kentucky Derby, changed the dates of one of the nation’s most storied sporting events from the First Saturday in May to September 5. The reason for the change?
The Twin Spires had hoped that by September 5, fans could attend the Run for the Roses. That won’t happen, which means this year’s Kentucky Derby must take place without fans.
For fans that travel every year to Louisville for the Derby, it’s a huge blow. But for per head racebook owners, the lack of fans or the date of the event, should have zero effect on the revenue the Derby generates.
The biggest issue for sportsbook betting agents won’t be the date of the 2020 Triple Crown race. Pay per head agents have a much bigger problem.
Most of their players have no clue about horse racing.
On September 5, bookies should use the Kentucky Derby as a way to promote racebook betting. By doing so, they can add a revenue stream that doesn’t have a season.
What makes horse racing different?
Betting software for bookies often comes with a digital racebook. Many bookies offer horse racing, but they don’t promote horse racing.
They should reconsider that decision. Unlike the NBA, NHL, MLB, and the NFL, horse racing has no season. In the United States, the thoroughbred industry runs horses almost every day of the year except Christmas.
Race tracks have seasonal meets. The industry itself, though, runs races year-round.
Like Gulfstream Park in Hallandale Beach, Florida, some race tracks run events with almost no in-between breaks. Gulfstream takes a few days off between their Championship Meet and their spring and summer meet.
Other tracks like Churchill Downs, Santa Anita, and Del Mar, run two meets as well. Those racetracks take a much longer time in between their two meets.
Saratoga, nicknamed the Spa, runs an exclusive summer meet. The Saratoga summer meet is as world-famous as England’s Royal Ascot Meet.
Racebooks can provide revenue every day of the year like casinos
Digital casinos and live dealer casinos helped pph sportsbook operators weather the pandemic. The live dealer casino especially added revenue and profit that bookies missed when the NCAA canceled the Men’s College Basketball Tournament.
Horse race betting can help bookies boost profit during all sports seasons. If another sports shut down happens, thoroughbred wagering can provide relief.
Tracks run live horse races. That makes racing more akin to live dealers than traditional Internet casino gaming. Like the live dealer, minimums on horse betting can make it attractive as an entertainment value-oriented endeavor.
Sports wagering takes money. Most players don’t want to wager on a sports event unless they can wager at least $20.
That’s not true with horse racing. If a player wants to watch the ponies on Fox Sports and have something at stake, their $20 can last an entire race card.
Players can wager $2 to win on a horse in every race during a 10-race card, which means players can stretch their $20 over 5 to 6 hours.
Betting on horses won’t cannibalize sports or casino bets
Your sports book, casino gaming, and horse book are all different. Your players can wager on all three at the same time.
Consider horses as an alternative to an entertainment streaming service. If your players don’t know much about equine racing, explain it to them like this.
- Horse racing is like Netflix for sports bettors
- You can get six hours of entertainment for $20
- Races happen live. So, it’s like playing blackjack in the live dealer casino except more exciting
Also, pay per head agents mustn’t forget the most critical aspect of betting on horses. It takes a small investment to make a lot of money.
Kentucky Derby often provides massive payouts
Last year’s Kentucky Derby made some people rich. The $2 exacta paid over $3,000. The $1 trifecta paid $11,475.30.
Players shouldn’t expect payouts like that for this year’s Kentucky Derby. But even when the favorites finish 1 – 2 – 3, like what happened in 2016, the payouts are decent.
Nyquist finished first, followed by Exaggerator second, and Gun Runner third. The $2 exacta paid $30.60 for the top two betting choices, Nyquist and Exaggerator.
The trifecta with the top 3 betting choices paid $173.40 for $1.
Use the September 5 Kentucky Derby to promote your race betting book by discussing massive horse racing payouts for small investments.
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