Sports betting sites across Canada could offer wagering on horse racing before next year’s Kentucky Derby, according to one industry executive.
, Woodbine could effectively manage betting on the races for provincial lottery and gaming companies, as Ontario remains the only province that allows private-sector sportsbooks to compete for business within its borders.could have something similar to what bet365 is offering Ontarians. Woodbine’s partnership with bet365 can also act as a proof of concept for other provincial regulators, showing them pari-mutuel wagering through an online sportsbook can be done legally and safely.
This year’s event attracted record levels of wagering, with a handle of $18.1 million reported by Woodbine for the Sunday card, topping the previous record of $18 million in 2019. That wagering includes all bets placed at the track, off-track betting facilities, U.S.-based retail and online racebooks, as well as through Woodbine’s digital platforms, HPIbet and Dark Horse Bets, which continue to take action on horse racing.
The bet365-Woodbine partnership is big for both parties and is the product of more than a year of work by the industry, regulators, and lawmakers. Woodbine, meanwhile, gains exposure to a legion of sports bettors it can try to convert to horseplayers, giving the horse-racing industry a financial boost in the process. There was concern the spread of legal sports betting in Canada would deal a blow to the horse racing industry, but Woodbine is trying to find a way to tap into the growing interest in gaming.
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