|Saturday, October 21, 2006|
|US industry discusses new wagering protocol|
A US racing industry consortium met at the International Simulcast Conference in Philadelphia to discuss the development of a “Wagering Transmission Protocol”, which would enable bets from across the country to flow immediately into the pool of the host track. The consortium consists of tote companies, racetracks, trade associations, and off-track betting companies.
Today, bets placed in another state than the host track would be put into one big batch, which would be sent to the host track pool before the close of betting. Such batches would obviously have an impact on the odds and winning pay-outs of the pools. In the past, this has lead to attempted manipulation of the pools, which the racing and tote companies want to avoid for the future with this cross the nation, real time betting.
The consortium would continue to work in the coming months on the application of the new protocol. Some of its members are also involved in the initiative from the International Federation of Horseracing Authorities to formulate global best practices for the promotion of international commingling of pools.