The wait for horse racing fans is over as Woodbine Entertainment will soon offer online betting on horse racing events outside of its HPIbet or Dark Horse Bets. The equine operator reported that it will allow pari-mutuel wagering on horse races via the sports betting provider, bet365. This comes just in time for the 2023 edition of the highly-anticipated King's Plate.
Incorporating horse racing wagering into Ontario's third-party sportsbooks has been in the works for a while. Up until now, online wagering on such events was only possible via HPIbet and Dark Horse Bets, but the legalization of single-event betting in August 2021 and the licensing of bet365 to join the province's regulated market, made the move possible.
A New Chapter for Horse Racing Wagers
CEO of Woodbine, Jim Lawson broke the news during the King's Plate draw and media conference at Woodbine Racetrack on Wednesday. He said that as a non-profit company, the horse racing revenue will get a share of the revenue and invest back into the sector. Mr. Lawson that the sports betting industry in Ontario is currently valued at CA$4b and expects it to reach CA$10b.
It was reported that in the coming days horse racing will be a legal option for Ontario sports punters via bet365's sportsbook platform in the province. The vertical should be fully functional by the King's Plate on Sunday, August 20, 2023. In the meantime, the group will work with other private sportsbooks interested in integrating its pari-mutuel horse racing.
But even after the launch with a third-party sportsbook, the horse racing leader remains optimistic that HPIbet will likely remain the preffered choice among online bettors. This is due to the fact that the app offers a lucrative loyalty program with exclusive cash back, access to the most racing data in one place, a VIP program titled Prestige by HPIbet and more.
Its statement also mentioned that HPIbet is the only online platform where horse wagering can earn players rewards and benefits, such as cashback and points. Still, the news about the launch with the private operator is a major milestone for the sports betting and horse racing industries in Ontario. It is expected that more gaming brands will follow the example and adopt pari-mutuel betting.
One of the Province's Many Licensed Operators
It is expected that the bet365 launch of fixed-odds horse racing wagers will open up the gate for millions of players. The global operator officially debuted in Canada's most populous province in April 2022. It was licensed by the Alcohol and Gaming Commission of Ontario, hence completing its shift from the grey market to the regulated one.
This May, the iGaming brand announced a partnership with Pragmatic Play, allowing it to launch content from the supplier of online casino games in Ontario. Now, local players of the prominent gaming brand will be able to enjoy the supplier's top-performing Live Casino titles, including Sweet Bonanza CandyLand™ and newly released but promising games such as PowerUP Roulette.
Source: “Pari-Mutuel Wagering Coming to Ontario Sports Bettors” Standardbred Canada, August 16, 2023
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