a lot of these 'ideas' ultimately are structured so that existing members profit as new members buy-in.
Differentiation from that structure comes in the form of the supplementary sources of income.
Tickets, event packages, sponsorships... The 'wagering' itself will be through the track as normal AFAIK.
https://www.tixr.com/ partnership is exciting. Nate Lieberman has done some good things with that app - Can purchase tickets quickly/easily, and can purchase more than just tickets w/ elegant design, premium experience offerings, high conversion rate...
Should be interesting to see if they bring a few things to the table, and how long they last.