Horse racing officials, looking to revitalize the pari-mutuel betting model, are turning to the financial world for technology to enable the development of new and complex bets.
Pari-mutuel wagering has long formed the financial backbone of horse racing, but as the sport comes under serious threat from sports betting and illegal bookmaking activities, the popularity of the “totalizator” has waned. Complex technology originally applied to solve liquidity problems in derivative markets may now be the thing that comes to the rescue.
In a case of Wall Street meeting the racetrack, New York-based company Longitude’s patented single pool wagering technology, dubbed the “enhanced pari-mutuel system” has now been adopted by Australian wagering giant Tabcorp across its three-state operation. The technology has been in use at the Hong Kong Jockey Club for the past year,
“Pari-mutuel remains a significant part of the Tabcorp business – we handle around A$7 billion ($5 billion) per year –...
This Dossier results from the “Life After POGOs” editorial project by Asia Gaming Brief which culminated with a pop-up digital forum on 9th December to discuss potentials ramifications in the industry.
Covid-19 forced the rapid and unexpected closure of venues across Australia, changing the operating environment with unprecedented speed and leaving managers scrambling to adapt...
Yokohama city has launched its RFP process to build a major urban IR at the Yamashita Pier candidate site. The timeline calls for the operator partner to be selected in the summer and the agreement finalized in the autumn.
Sands China volunteers and local community groups recently worked together at The Venetian to build 40,000 hygiene kits for Clean the World, an international social enterprise that provides hygiene supplies essential for good health to populations in need around the globe, helping prevent the spread of disease.
Over the years, many of the answers have been remarkably prescient in their forecasts for the near-term direction of Asia’s gaming industry. However, we can safely say that no one came anywhere close to guessing
what 2020 may have had in store.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.
Before the Covid-19 crisis, tourism in the Greater Mekong Sub-Region was at a record high, on track to welcome 80 million visitors in 2019, generating some $90 billion in revenue.
