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Early results indicate that in-play betting can increase turnover by 5%
Racecourse Media Group (RMG) has successfully launched its new in-play betting service with BetVictor, Parimatch, TalkSPORT BET and William Hill. RMG is already experiencing a promising increase in turnover.
RMG uses the GPS tracking service Coursetrack to supply the feed. Coursetrack has just launched its second generation GPS tracker, which provides enhanced accuracy and reliability. RMG’s racecourses produce GPS co-ordinates 20 times per second for each horse.
RMG’s Pythia Sports pricing partner then generates in-play prices from GPS data and serves them to bookmakers through the Press Association. This service is enhanced by RMG’s ultra low latency streams (c.400 microseconds), which are provided via STATSPerform and Phenix Real Time Solutions, both of which RMG launched for its streaming services on June 2020.
Adam Barnes said “Bet Victor’s Director of Product, Adam Barnes, stated that the company is pleased to be able to offer in-play wagering for horse races. It is important to have highly accurate and reliable tracking data in order to build confidence in our pricing. This applies both to us as operators and also our customers. The Coursetrack technology delivers this. We are very happy with the results. The bigger meetings are popular, but it’s not just about the increased turnover at the marquee events. There’s also a benefit to racing as we see the customers’ interest in midweek meetings.
We look forward to working closely with RMG to innovate and improve the product. We can use our data to better understand the in-play experience. We can also explore the types of derivatives markets that we could launch in the future.
Racecourse Media Group welcomed William Hill in mid-February to its in-play betting services. Other bookmakers are also in the process of integration. As part of recent contract extensions, RMG is making the new in-play betting service available to its fixed-odds streaming customers.
Martin Stevenson is the Chief Executive of RMG. He said: “RMG was asked to lead the broadcasting elements of the BHA Industry Strategy. Innovations such as in-play betting and data represent a real opportunity both for our racecourses, and the sport. This brings racing up to par with other sports in terms of data.
“We are very happy with the results of BetVictor, William Hill and the technology, which generates additional turnover for the sports, much needed after the challenging few years. Since launch, betting turnover and engagement have both grown steadily. This suggests that in-play betting could increase turnover by 5% on horse racing.
“We also consider how to best interpret the data from the Racing TV channel, and digital platforms. We are incorporating the expertise and knowledge of people like Angus McNae, and Ruby Walsh. This can only increase the appeal and engagement of the sport.
We are excited to welcome more bookmaker partners aboard.
Freddy Galliers said, “We’ve been excited about this project from day one. The project has presented a challenging challenge, with many complexities. Working with Racecourse Media Group to create this product from the ground up, was rewarding for everyone.
Pythia wanted to move into B2B to collaborate with rights holders and help them innovate and develop wagering opportunities for racing. This project met all of those criteria. The project culminated with Bet Victor and William Hill going live. “We are looking forward working with more operators by 2023.”
