{"id":223747,"date":"2022-07-28T21:54:43","date_gmt":"2022-07-29T02:54:43","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=223747"},"modified":"2022-07-29T12:50:23","modified_gmt":"2022-07-29T17:50:23","slug":"churchill-downs-wants-to-offer-horse-racing-to-online-sportsbooks","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/churchill-downs-wants-to-offer-horse-racing-to-online-sportsbooks\/","title":{"rendered":"Churchill Downs Wants to Offer Horse Racing to Online Sportsbooks"},"content":{"rendered":"

Churchill Downs Incorporated is looking at ways to connect its horse racing product with online sports wagering operators and the millions of bettors who gamble on them. The plan was revealed by\u00a0CEO Bill Carstanjen to investment analysts Thursday.<\/p>\n

\"Rich<\/a>
Rich Strike pulls away from Epicenter in the final strides of the 2022 Kentucky Derby in May at Churchill Downs. Churchill Downs Incorporated CEO Bill Carstanjen said Thursday the company is looking to offer racing to online sportsbooks and may land a partnership with one for the Derby. (Image: Coady Photography)<\/figcaption><\/figure>\n

It\u2019s part of a plan to be \u201ca leading distributor\u201d of racing content, he said. That could entail Churchill Downs establishing a business-to-business model that allows its races, including the Kentucky Derby, to become available on sports betting apps.<\/p>\n

\n

We believe fundamentally that horse racing content should and will become available over time on sports wagering platforms to reach every wagering customer across the US,\u201d<\/strong> Carstanjen said during Churchill Downs\u2019 second-quarter earnings conference call.<\/p>\n<\/blockquote>\n

The move comes about a month after the Louisville-based company pulled the stakes on its TwinSpires online sportsbook and iCasino product. TwinSpires still operates as the largest online advanced-deposit wagering platform (ADW) for racing.<\/p>\n

Connecting horse racing and sports betting would open the door for the Kentucky Derby to get an official sports betting partner. The Kentucky Derby is the most popular event in US horse racing. This year\u2019s race reported a record all-sources handle of $179 million<\/a>, and the Derby Day card generated $273.8 million in wagers.<\/p>\n

But it would just be the Derby or the company’s namesake track that would be offered to sportsbooks. Churchill Downs also owns Turfway Park, Oak Grove Racing and Gaming, Fair Grounds Race Course and Slots, Presque Isle Downs Casino, Ocean Downs Casino, and Miami Valley Gaming.<\/p>\n

Similar Efforts Underway Elsewhere<\/h2>\n

Several sportsbooks are already working to connect to horseplayers. BetMGM and Caesars Sportsbooks have introduced racebooks, and FanDuel has an ADW that\u2019s powered by its fellow Flutter Entertainment brand TVG.<\/p>\n

And some in the horse racing community are looking to introduce the sport to new bettors as well. In New Jersey, Monmouth Park<\/a> is working with BetMakers to offer fixed-odds wagering on its races. An online app is expected to launch there at some point. Elsewhere, gaming regulators in Colorado have signed off on rules that would allow its licensed sportsbooks to take fixed-odds wagers.<\/p>\n

However, Carstanjen never uttered the term fixed odds Thursday.<\/p>\n

\u201cGiven our expertise and extensive knowledge of pari-mutuel wagering on horse racing, we have the technical expertise, access to racing content, and technology to seamlessly integrate pari-mutuel wagering into existing third-party online sports wagering platforms,\u201d he said. \u201cWe will also provide user interfaces and ancillary services that may be necessary or desired by online sports wagering platforms.\u201d<\/p>\n

\n

It\u2019s not necessarily a shock that Churchill Downs isn\u2019t \u2013 at least publicly \u2013 looking at offering a fixed-odds product. The company isn\u2019t typically associated with being an early adapter. However, should fixed odds take off as some predict, Churchill Downs having relationships with one or more sportsbooks would put it in a good position to transition into that market.<\/p>\n<\/div>\n

Carstanjen does not believe offering pari-mutuel racing to sportsbooks would eat away at TwinSpires’ business. Of the $6.66 billion wagered through ADWs last year, according to data from the Oregon Racing Commission, TwinSpires took $2.46 billion of those wagers.<\/p>\n

TwinSpires offers horse handicappers tools to help them review recent performances by horses. It also offers video links to the tracks, allowing users to watch the races as well.<\/p>\n

\u201cFor the core players, who really like to devote a significant amount of time, we think TwinSpires will stand alone as a really attractive option compared to the slimmed-down, simplified newbie interfaces we’re likely to see more of on the online sports wagering platform,\u201d Carstanjen said.<\/p>\n

Chicago Bears Arlington Park\u00a0 Update<\/h2>\n

Carstanjen also gave analysts an update on the several sales and acquisitions the company is in the process of closing. That includes the $197 million sale of Arlington International Racecourse to the Chicago Bears. The NFL team was the top bidder for the track in Arlington Heights, Ill., last year, and team officials plan to tear down the track and build a new stadium in the Chicago suburb.<\/p>\n

Churchill Downs expects to close on the sale early next year, Carstanjen said.<\/p>\n

Earlier this week, Chicago Mayor Lori Lightfoot unveiled plans to renovate Soldier Field, the Bears current stadium, in an effort to keep the team in the city. One of the plans includes a rebuild of the open-air stadium to transform it into a dome.<\/p>\n","protected":false},"excerpt":{"rendered":"

Churchill Downs Incorporated is looking at ways to connect its horse racing product with online sports wagering operators and the millions of bettors who gamble on them. The plan was revealed by\u00a0CEO Bill Carstanjen to investment analysts Thursday. It\u2019s part of a plan to be \u201ca leading distributor\u201d of racing content, he said. That could […]<\/p>\n","protected":false},"author":45,"featured_media":223748,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[14577,1074],"tags":[82008,81900,82078,80968],"acf":[],"yoast_head":"\nChurchill Downs Wants to Offer Horse Racing to Online Sportsbooks<\/title>\n<meta name=\"description\" content=\"Company CEO Bill Carstanjen said he wants Churchill Downs to become \u201ca leading distributor\u201d of racing content to sports betting operators.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/churchill-downs-wants-to-offer-horse-racing-to-online-sportsbooks\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Churchill Downs Wants to Offer Horse Racing to Online Sportsbooks\" \/>\n<meta property=\"og:description\" content=\"Company CEO Bill Carstanjen said he wants Churchill Downs to become \u201ca leading distributor\u201d of racing content to sports betting operators.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/churchill-downs-wants-to-offer-horse-racing-to-online-sportsbooks\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-29T02:54:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-07-29T17:50:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/1KRC4935-1024x683.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"683\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Steve Bittenbender\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Steve Bittenbender\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/churchill-downs-wants-to-offer-horse-racing-to-online-sportsbooks\/\",\"url\":\"https:\/\/www.casino.org\/news\/churchill-downs-wants-to-offer-horse-racing-to-online-sportsbooks\/\",\"name\":\"Churchill Downs Wants to Offer Horse Racing to Online Sportsbooks\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/churchill-downs-wants-to-offer-horse-racing-to-online-sportsbooks\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/churchill-downs-wants-to-offer-horse-racing-to-online-sportsbooks\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/1KRC4935.jpg\",\"datePublished\":\"2022-07-29T02:54:43+00:00\",\"dateModified\":\"2022-07-29T17:50:23+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/eb30e765d812fc9b38b333f8d13068b2\"},\"description\":\"Company CEO Bill Carstanjen said he wants Churchill Downs to become \u201ca leading distributor\u201d of racing content to sports betting operators.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/churchill-downs-wants-to-offer-horse-racing-to-online-sportsbooks\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/churchill-downs-wants-to-offer-horse-racing-to-online-sportsbooks\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/churchill-downs-wants-to-offer-horse-racing-to-online-sportsbooks\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/1KRC4935.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/1KRC4935.jpg\",\"width\":2400,\"height\":1600,\"caption\":\"Rich Strike pulls away from Epicenter in the final strides of the 2022 Kentucky Derby in May at Churchill Downs. Churchill Downs announced it's splitting its stock. (Image: Coady Photography)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/churchill-downs-wants-to-offer-horse-racing-to-online-sportsbooks\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Sports Betting\",\"item\":\"https:\/\/www.casino.org\/news\/sportsbetting\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Horse Racing\",\"item\":\"https:\/\/www.casino.org\/news\/sportsbetting\/horse-racing\/\"},{\"@type\":\"ListItem\",\"position\":4,\"name\":\"Churchill Downs Wants to Offer Horse Racing to Online Sportsbooks\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/eb30e765d812fc9b38b333f8d13068b2\",\"name\":\"Steve Bittenbender\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-7-1-96x96.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-7-1-96x96.png\",\"caption\":\"Steve Bittenbender\"},\"description\":\"Steve Bittenbender covers Midwest and Gulport news for Casino.org. He also specializes in sports betting and horse racing. Steve is a veteran reporter and brings more than two decades of experience covering sports, business and politics. He joined Casino.org in 2019. Steve has also covered major collegiate and professional sports for the Associated Press and the Louisville Courier-Journal and is frequently featured on local network TV newscasts and podcasts for his horse racing business and legislative expertise. A Reuters contributor, he has also previously served as editor for Government Security News. Steve lives in Louisville, Kentucky -- the epicenter of the US horse racing industry -- with his wife and son. He is also an avid poker player, having learned from his uncle as a wholesome after-school pastime with cookies and milk. Contact Steve at stevebittenbender@casino.org.\",\"url\":\"https:\/\/www.casino.org\/news\/author\/steve-bittenbender\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Churchill Downs Wants to Offer Horse Racing to Online Sportsbooks","description":"Company CEO Bill Carstanjen said he wants Churchill Downs to become \u201ca leading distributor\u201d of racing content to sports betting operators.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.casino.org\/news\/churchill-downs-wants-to-offer-horse-racing-to-online-sportsbooks\/","og_locale":"en_US","og_type":"article","og_title":"Churchill Downs Wants to Offer Horse Racing to Online Sportsbooks","og_description":"Company CEO Bill Carstanjen said he wants Churchill Downs to become \u201ca leading distributor\u201d of racing content to sports betting operators.","og_url":"https:\/\/www.casino.org\/news\/churchill-downs-wants-to-offer-horse-racing-to-online-sportsbooks\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2022-07-29T02:54:43+00:00","article_modified_time":"2022-07-29T17:50:23+00:00","og_image":[{"width":1024,"height":683,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/1KRC4935-1024x683.jpg","type":"image\/jpeg"}],"author":"Steve Bittenbender","twitter_card":"summary_large_image","twitter_creator":"@Casino_Org","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Steve Bittenbender","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/churchill-downs-wants-to-offer-horse-racing-to-online-sportsbooks\/","url":"https:\/\/www.casino.org\/news\/churchill-downs-wants-to-offer-horse-racing-to-online-sportsbooks\/","name":"Churchill Downs Wants to Offer Horse Racing to Online Sportsbooks","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/churchill-downs-wants-to-offer-horse-racing-to-online-sportsbooks\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/churchill-downs-wants-to-offer-horse-racing-to-online-sportsbooks\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/1KRC4935.jpg","datePublished":"2022-07-29T02:54:43+00:00","dateModified":"2022-07-29T17:50:23+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/eb30e765d812fc9b38b333f8d13068b2"},"description":"Company CEO Bill Carstanjen said he wants Churchill Downs to become \u201ca leading distributor\u201d of racing content to sports betting operators.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/churchill-downs-wants-to-offer-horse-racing-to-online-sportsbooks\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/churchill-downs-wants-to-offer-horse-racing-to-online-sportsbooks\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/churchill-downs-wants-to-offer-horse-racing-to-online-sportsbooks\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/1KRC4935.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/1KRC4935.jpg","width":2400,"height":1600,"caption":"Rich Strike pulls away from Epicenter in the final strides of the 2022 Kentucky Derby in May at Churchill Downs. Churchill Downs announced it's splitting its stock. (Image: Coady Photography)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/churchill-downs-wants-to-offer-horse-racing-to-online-sportsbooks\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Sports Betting","item":"https:\/\/www.casino.org\/news\/sportsbetting\/"},{"@type":"ListItem","position":3,"name":"Horse Racing","item":"https:\/\/www.casino.org\/news\/sportsbetting\/horse-racing\/"},{"@type":"ListItem","position":4,"name":"Churchill Downs Wants to Offer Horse Racing to Online Sportsbooks"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/eb30e765d812fc9b38b333f8d13068b2","name":"Steve Bittenbender","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-7-1-96x96.png","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-7-1-96x96.png","caption":"Steve Bittenbender"},"description":"Steve Bittenbender covers Midwest and Gulport news for Casino.org. He also specializes in sports betting and horse racing. Steve is a veteran reporter and brings more than two decades of experience covering sports, business and politics. He joined Casino.org in 2019. Steve has also covered major collegiate and professional sports for the Associated Press and the Louisville Courier-Journal and is frequently featured on local network TV newscasts and podcasts for his horse racing business and legislative expertise. A Reuters contributor, he has also previously served as editor for Government Security News. Steve lives in Louisville, Kentucky -- the epicenter of the US horse racing industry -- with his wife and son. He is also an avid poker player, having learned from his uncle as a wholesome after-school pastime with cookies and milk. Contact Steve at stevebittenbender@casino.org.","url":"https:\/\/www.casino.org\/news\/author\/steve-bittenbender\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/223747"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/45"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=223747"}],"version-history":[{"count":0,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/223747\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/223748"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=223747"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=223747"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=223747"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}