Horseracing is an equestrian sport deeply rooted in tradition, but in recent years, it has been redefined by technology. Today, spectators no longer have to wait in queues to place their wagers. They can just use their phones to watch the livestream of their favorite races and bet on the horses through online sportsbooks.
All these advancements helped the industry achieve a staggering $402.89 billion in 2023 and draw in more audiences, even from far regions. Technology will continue to be a driving force, helping the horseracing industry achieve more.
Data-Driven Decisions
In the past, horseracing spectators would primarily rely on their skills in noting the appearance of the horses before the race. Other big factors affecting the bettor’s success are their intuition and luck. However, today, many data analytics tools are available on online platforms.
These can help bettors make informed wagers by allowing users to study factors like ground and weather conditions, analyze performances, and use predictive algorithms.
Such a layer of sophistication makes racing statistics a valuable tool for every modern bettor. In the past, these complex analyses were only available to professionals and insiders. But in the present, everyone can access such valuable data quickly.
New Set of Functionalities
Online horse betting platforms showcase a range of features that would make them stand out. Besides allowing users to place their bets, other groundbreaking features include in-play betting. This allows bettors to place bets after the race has started, offering bettors the chance to adapt strategies based on the horse’s initial performance.
Many platforms, including FanDuel Racing, have embraced user-friendly interfaces that make placing complex bets effortless. For example, placing an exacta or trifecta is not as complicated as doing it at a traditional betting kiosk. These entirely new functionalities are geared towards improving the betting experience, inviting more bettors to use online platforms.
Safety and Regulations
Just like any online engagement involving deposits and withdrawals of funds, betting online has risks. However, it’s important to note that the most reliable betting platforms should follow stringent safety protocols to protect users from fraud and unregulated activities.
Legal online betting platforms prioritize user safety throughout the betting journey. That means safety protocols are adhered to, from encryption technologies to meticulous Know Your Customer (KYC) processes.
When picking a trusted horse racing betting app, bettors must look at the individual licenses issued by states, read user reviews, and ask online forums for recommendations. Additional features could be enticing, but user security should always come first when betting online.
Responsible Gambling Tools
With so many online betting platforms sprouting, responsible gambling has been a great concern among bettors. Considering the risks of irresponsible gambling behaviors, online betting sites took the initiative to feature various tools that reinforce good gambling behaviors. The settings added to these platforms are self-exclusion, betting limits, and regular break options.
Other platforms also provide resources for gambling addiction support, encouraging users to be more responsible in their actions within these gambling sites. Such commitment to player protection positions these platforms as concerned institutions that provide a safe and enjoyable betting environment, more than just a business.
Promotions and Bonuses
Bettors can also find various promotions and bonuses to draw in and retain loyal customers. These perks include welcome bonuses for new users, loyalty bonuses, and VIP programs, among many others.
If we talk about the most enticing bonuses. Bettors would never skip platforms that offer free bets, cash-back guarantees, and odds boosts. These perks add value for users, keeping them for extended periods and eventually converting new bettors to loyal customers.
Integration of Real-Time Streaming
Beyond offering betting options, live horse racing operators also create additional revenue streams through real-time streaming.
Here is how they are doing it:
- Subscription Services. Real-time streams can be accessed through paywalls like subscription services. Bettors can avail of tiered subscriptions, where they can choose higher tiers that offer ad-free viewing, enhanced video quality, or exclusive races.
- Virtual Horseracing Games. Bettors can enjoy virtual horseracing games along with real-time streaming, offering an immersive experience. In these games, players can own virtual horses, set them for races, and earn income.
- Advertising and Sponsorships. With real-time streaming, operators can seek sponsorship from companies interested in reaching their audience, or advertisers can place ads during the live stream.
- Merchandising. Operators can also allow promotions of merchandise related to the horses involved or the race itself via livestream.
Final Thoughts
Horse betting is no longer the outdated bet-from-kiosk mode. Modern online platforms offer many features, inviting more bettors to go mobile. The sophisticated data analytics tools even make these sites more inviting. On the bettors’ end, it’s essential to exercise caution when picking the best platform. Ask around betting communities and read reviews. This way, you can gauge a platform’s credibility even before dipping your toes in the waters.
Image by Anil Sharma from Pixabay
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