The horse racing betting market in the United States is a strong and well-established segment of the larger national gambling scene. It’s a different world from the rapid rise of current sports betting, which is mostly based on the parimutuel system. This long-running market has a total amount wagered that consistently exceeds eleven billion dollars a year. This is an amazing number that shows how well it has survived despite tough competition from new betting sites.
Thoroughbred Rule
The Handle’s Lasting Worth
Most of this money-making activity has to do with Thoroughbred racing. The Triple Crown races, the Kentucky Derby, the Preakness Stakes, and the Belmont Stakes are all famous events that bring in a lot of betting action from around the world and millions of dollars. Even on days that aren’t big events, North American tracks still get a lot of bets through both traditional on-track tellers and newer off-track betting methods. This steady but slowly expanding handle, or total amount wagered, keeps the whole racing environment going.
Digital Change and Problems
Wagering Using an Advance Deposit
Advance Deposit Wagering, are becoming more widespread. This allows players to bet online making it accessible. This move to digital has helped keep the market stable even while fewer people are going to real racetracks. The industry does, however, have to find ways to get younger bettors interested and stay relevant as state-by-state legalization leads to huge increase in general sports betting, which frequently overshadows racing’s traditional appeal. The market is strong, but it needs to change to keep growing in a more competitive digital world.
Final Thoughts
The US racing betting market is a huge, multi-billion dollar business that has been around for a long time and is strongly established in American sports culture. It is currently going through a crucial time of digital change and fierce competition.