Thoroughbred Idea Foundation: What Needs To Change After Modern Games Fiasco?

Thoroughbred Idea Foundation asks what needs to change after Modern Games Fiasco.

Winfried Engelbrecht-Bresges is the new chairman of the International Federation of Horseracing Authorities. He believes that customers should be at the center of everything a racing company does. Hong Kong Jockey Club is a major player in the World Pools concept. HKJC provided its local customers with simulcasts of two Breeders' Cup races for the first time since 2014. The total handle of commingled World Pool events in 2021 will be $481 million. The HK JC hopes to expand wagering opportunities over the next 3 to 5 years.

UK Tote Group paid out on Modern Games and Tiz the bomb as winners on pari-mutuel betting in Great Britain. The company took over tote betting across Britain in late 2019. It is trying to bridge the gap between fixed-odds betting and parimutuel. It launched a tote guarantee in early 2020. There is no fixed odds starting price for parims. Customers do not know the final odds of horses until after the last bets have been added to the pool. Totes guarantee is in place ever since. They match the fixed Odds starting prices if it happens to be higher than the winner's final parisomuel price.

The Breeders' Cup is a catalyst for operators and regulators to take notice and make needed adjustments. World Pools is creating a path to improve business and industry infrastructure. The Americas are behind the curve to this point. There are many examples for North America to follow. John Knapman, UK Tote's Jon Knappman is an expert on commingling.