In a landmark move for United States race wagering, Bet365 in Colorado is the first mobile platform to offer fixed-odds betting on horse racing side by side with its other sports offerings.

A Feb. 21 press release from Bet365 and content holder and distributor Sports Information Services confirms an agreement is in place with Colorado’s Arapahoe Park, state horsemen, and the racing commission that allows fixed-odds wagering on racing in Colorado.

BloodHorse talked about the landmark move with Michele Fischer, vice president at SIS Content Services. She noted that while New Jersey added fixed-odds wagering on racing at Monmouth Park and other track signals on a standalone mobile platform, the Colorado agreement will see bettors be able to conduct fixed-odds wagering on racing on a sports betting app. This means bettors in the state, through the Bet365 platform, will be able to craft parlay wagers that include racing and other sports.

This function will put some significant promotional and marketing efforts from Bet365 in play for racing.

“Bet365 plans to promote this and offer multi-sport parlays that include racing,” Fischer said. “Those types of promotions can bring people into racing. It’s all about getting new customers.”

Fischer confirmed that there is an agreement in place that will see the fixed-odds wagering on racing benefit purses and the track. As this is new ground for all involved, the agreement will be reviewed after two years.

“We are thrilled to be able to put horse racing on Colorado sportsbooks for fixed-odds wagering,” Arapahoe Park executive director of operations and racing Shannon Ruston said in a release. “Working with SIS, we crafted a commercial framework that benefits local racing, while giving sportsbooks access to thousands of races. Our belief is that this development will secure a better future not only for Arapahoe Park, but also for the racing ecosystem as a whole in Colorado.”

Because sports bettors lock in “fixed odds,” the hope is that offering wagers on horse racing in the same manner, as opposed to U.S. racing’s traditional pari-mutuel wagering in which odds change until the gates open, will help attract a wider range of casual bettors. That review, after a couple of years, helped provide some confidence for the stakeholders in the state to try something new.

“We are committed to ensuring that horse racing in Colorado is economically viable for the participating owners and trainers, who are the backbone of the sport,” added Colorado Horsemen’s Association president Kim Oliver in the release. “Fixed-odds betting will produce a new revenue stream and exposure for horse racing. This launch represents a pivotal moment for our group.”

“Someone had to be first,” Fischer told BloodHorse, noting the unknowns involved until something is up and running.

Meydan Racecourse, site of the Dubai World Cup Carnival. (Eclipse Sportswire)

SIS Content Services is highly involved with tracks throughout the world, and most of the 140 tracks to be offered in Colorado will be international cards. The launch will be in time for the Feb. 24 Saudi Cup card featuring top international racing that is expected to include several U.S.-based runners, such as 2023 Preakness Stakes winner National Treasure. Another big international event on the horizon is the March 30 Dubai World Cup Day, and fixed-odds wagering also will be offered on it for Colorado players through Bet365.

Delta Downs and Evangeline Downs are the first two U.S. tracks signed on and, of course, Arapahoe Park will be available once its meet begins June 9. Fischer said they’re also negotiating with four other U.S. tracks.

In terms of what horse racing can bring to the Bet365 app in Colorado, the hope is the added content at every hour of the day will prove attractive to bettors.

“The launch of fixed-odds horse racing betting on Colorado sportsbooks puts horse racing on equal footing with other sports and hopefully attracts a new fan base and revenue for our racetrack partners,” Fischer said. “This is a great first step in expanding the horse racing audience and I commend the Colorado horse racing stakeholders, Colorado Division of Gaming, and bet365 for their vision and support. Horse racing provides sportsbooks with exciting year-round 24/7 content throughout the world. It will take time in the U.S., but I expect that more sports wagering operators and states will include horse racing on their sports catalogs.”

Fischer said this addition has been two years in the making, as it’s difficult to negotiate with so many different partners. While Bet365, for now, may be viewed as one of the smaller sports betting players in the U.S., the British-based company is well-known throughout the world and was willing to integrate its U.S. platform to launch fixed-odds wagering on racing.

“The introduction of fixed-odds horse racing betting is sure to have a positive impact in Colorado,” said an unnamed Bet365 spokesperson in the release. “We have seen the popularity of fixed odds betting in horse racing in other markets, and as sports betting becomes more ingrained across the US, it will certainly provide a boost to engagement.”

Fischer noted that other sports betting platforms in the state are interested in adding fixed-odds wagering on horse racing but may take some time to integrate the technology.

“We see this as a slow-growth thing,” Fischer said. “We have Colorado and hope to get more sportsbooks and then get more states on board. This feels very much like a first step.”