What Fixed-Odds Betting Could Do For Horse Racing and Sportsbooks
Geoff Zochodne discusses how the UK’s legal fixed‑odds betting on horse racing—exemplified by bet365’s “super boost” of +150 for Charles Darwin at Royal Ascot—provides much more attractive, guaranteed odds compared to traditional parimutuel pools . In North America, most horse betting remains parimutuel, but fixed‑odds are slowly arriving via states like Louisiana and West Virginia .
Zochodne cites data: in April, U.S. sportsbook wagering hit $12.4 B (an 8.9% YOY increase), while U.S. horse-racing off-track betting dropped slightly to $11.3 B in 2024 . The UK itself saw a 9% Q1 decline in racing handle, though top-tier (“premier”) race engagement remains strong, especially among casual bettors ().
The article highlights the UK’s strategy of “premier‑isation” — boosting key race days with better prize money and differentiation to attract casual fixed‑odds bettors . U.S. racing has its own marquee events (Triple Crown, Breeders’ Cup), but lacks the continuous structured push seen in the UK.
Zochodne argues that combining fixed‑odds wagering with promotional boosts on notable horses/races could engage casual sportsbook bettors, making horse racing more compelling year-round . He acknowledges concerns about cannibalizing parimutuel pools but notes states like Louisiana include funding allocations in fixed‑odds legislation to support purses and breeding .
In essence, Zochodne believes that, while fixed‑odds betting won’t instantly “fix” horse racing’s decline, it’s a promising tool to attract occasional bettors and add excitement—if paired with smart regulation and incentives ().
