https://www.bloodhorse.com/horse-rac...#disqus_thread
Excerpt:
He noted the growth in race wagering in Australia has occurred at a time in which its handle has shifted from 70% pari-mutuel and 30% fixed-odds to 62% fixed-odds wagering and 38% pari-mutuel.
In fixed-odds wagering, bettors have the ability to lock in odds—say, 3-1 on a horse to win—with no chance of those odds changing after the wager is made.
"It's not only the racing commission's responsibility, it's the responsibility of the horsemen, the tracks, the breed registry, and everybody involved in the sport. This sport is in a highly competitive environment. We can be sitting here talking about pari-mutuel wagering 10 years from now, but you just saw these statistics about fixed-odds wagering and where the market is taking wagering. Bets are going offshore because we cannot offer these opportunities domestically. ... We have not collectively as an industry done what we need to do to adapt to the technology coming forward. This is about the survival and competitive position of an industry.
"We can debate Lasix for five more years, but if we don't focus on this side, we'll be debating Lasix in front of an empty grandstand."
