The 144th running of the Kentucky Derby on Saturday set new records for total wagers, with only $150 million wagered on the biggest thoroughbred race of this calendar.
Those numbers have a real-world lesson that needs to be applied to sports betting.
Within the Kentucky Derby amounts Here’s a look at tackle from race according to Churchill Downs:
Wagering out of all-sources on the Kentucky Derby Day program totaled $225.7 million, an 8 percent increase over the 2017 total and past record of $209.2 million. Wagering out of all-sources on the Kentucky Derby race climbed 8 percent to $149.9 million from the previous record of $139.2 million set annually.
And that was clearly great for business.
“We’re profoundly grateful to All the fans of the Kentucky Derby around the world who once Again made this an unforgettable and amazing experience,” said Bill Carstanjen, CEO of Churchill
Downs Incorporated. “We anticipate the Kentucky Derby Week Adjusted EBITDA to
Reflect another album with $11.0-to-$13.0 million of growth over last year.”
Online horse We also know that online wagering accounted for a large amount of this. According to Churchill Downs, handle for the day during its online wagering stage — TwinSpires — was $39.2 million, up 15 percent from 2017. For the featured race online manage at the site and cellular program clocked in at $24.6 million, up 18 percent year over year.
That is in spite of the fact that the website wasn’t carrying bets for a period of what seems to be 15 to 20 minutes leading up to post time because of technical issues. And those TwinSpires numbers do not incorporate the wagering at several other online horse betting websites.
Put simply, online wagering at just one online gaming portal has been about 16% of total handle to the Derby.
You’re doing it wrong if you do not do sports betting The lesson for countries seeking to legalize sports wagering if the national ban be broke down at the Supreme Court sports gambling case is straightforward: You’re restricting yourself if you don’t legalize online gambling in parallel using wagering at pre-determined facilities (casinos, paths, etc.). You are not going to realize the entire amount of earnings for gaming companies and in turn tax receipts without internet betting.
The horse racing industry has obviously embraced online wagering. And there’s no telling how much more of a drop-off it would have experienced with no. TwinSpires, for its part, was advertising during Saturday’s races.
And, of course, we have the example of Nevada sports betting. There, manage has increased steadily due to the arrival of mobile wagering.
If you are a country that wants to get the maximum out of legal sports gambling, you would be silly not to own online wagering. Happily, most states considering sports betting bills are taking a look at legalizing it.
The bottom line: Online wagering is clearly helping increase the amount wagered on horse races. And though the horse racing industry isn’t necessarily a model for achievement, here it’s a guidepost for what should happen for sports gambling in the US.
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