Woodbine is off to the races with bet365
Betting on horse racing will be available for the first time, beginning with the King's Plate on Sunday. Plus, (a lot) more reaction from the summer blockbuster deal involving ESPN, Penn and Barstool.
In this issue:
Woodbine and bet365 come to a pari-mutuel agreement
ESPN-Penn-Barstool story keeps on giving
Gaming News Canada Show brings back the band
Good seats still available for SBC Summit Barcelona
Woodbine, bet365 come to a pari-mutuel agreement
It turns out the name of the race isn’t the only thing that will be new Sunday with Canada’s longest-running and most prestigious thoroughbred horse race.
During Wednesday’s draw for the first leg of the Canadian Triple Crown, Woodbine Entertainment CEO Jim Lawson announced a partnership with bet365, which will offer horse racing on its licensed Ontario sportsbook app beginning with this weekend’s 164th running of the Plate in Toronto. It’s the first time horse racing will be available on a legal betting app in the province.
When Lawson appeared on the Gaming News Canada Show podcast presented by Osler, Hoskin & Harcourt LLP back in May, integrating horse racing into Ontario’s regulated sports betting marketplace was a priority with the King’s Plate as a target for having something in place.
“I’m a sports guy. Unless you set a finish line, you’re not going to reach us,” Lawson told Gaming News Canada last night. “I was pushing, not just with bet365 but with the regulators. Setting a goal of the King’s Plate was a great thing to work towards. Folks rolled up their sleeves and got this done in time.”
Horse racing wasn’t yet available on the bet365 app when we hit the Send button on this morning, but is expected to be there before Sunday’s race, and there’s no reason to believe otherwise. (UPDATE: bet365 unveiled its horse racing product, with Woodbine’s support, late Thursday morning.)
As the old saying goes, this isn’t the first rodeo for bet365 when it comes to the sport of kings. The sportsbook has been offering horse racing to its customers since Denise Coates launched 365 in 2001, and it now provides wagering opportunities on the sport around the world - along with live streaming of races on the app from tracks in the U.S., UK, Ireland, France, Australia and other countries. Lawson told us that Canadian races won’t be available for betting to bet365 customers outside of Ontario.
“It’s not easy to integrate tote (putting bettors’ money into a collective pool) into a horse racing app,” Lawson said. “(Bet365) is a solid company with roots in horse racing, and they are one of the few sportsbooks with that (technological) capacity.”
Other highlights from yesterday’s announcement:
Horse racing offered on Woodbine’s HPIbet app will now also be available on bet365.
The bet365 offering will be of the pari-mutuel variety, and not fixed-odds racing. From Dave Briggs’s detailed piece on PlayCanada.com about the partnership:
Prior to single-event sports betting being approved federally in 2021, Woodbine fought and won the right to exclude operators from offering pari-mutuel wagering in Canada. That meant Ontario online gambling operators could not add horse racing to their gambling mix.
“Horse racing remains pari-mutuel and with us being the only current pari-mutuel license holder in the province of Ontario, if they want our product, they have to come and get it from us,” Lawson told PlayCanada in August of 2022.
Pari-mutuel wagering is a system in which bets are pooled. The house take is deducted and the payoff odds are calculated by sharing the pool among all winning bets. The system is critical to supporting the costly exercise of owning and campaigning racehorses and putting on the horse racing product.
Also from the keyboard of Briggs (who’s covered the racing industry for many fortnights): “. . . . horse betting handle generated through bet365 will be considered Home Market Area handle, which contributes to the Horse Improvement Programs that support some 25,000 full-time equivalent jobs in the province’s horse racing industry. Woodbine is a not-for-profit, meaning the proceeds of wagering go back to support the industry and Woodbine itself”.
According to Lawson, the federal Justice Minister’s office, the Canadian Pari-Mutuel Agency, the Alcohol and Gaming Commission of Ontario, and iGaming Ontario were involved were all involved in helping Woodbine navigate the regulatory hurdles to make this happen.
The Woodbine/bet365 partnership will also include the addition of standardbred (harness) racing to the 365 app in Ontario.
The deal isn’t exclusive, as Lawson believes giving the sport exposure across Ontario’s competitive gambling marketplace can help attract new horse racing fans. “This is an important step for Woodbine to become relevant in a growth sector - sports betting. We’ve said from the beginning that the advantage horse racing has is that (sportsbooks) can offer daytime racing from Ontario and New York. A lot of young sports bettors are looking for something to bet on during the day.”
Lawson, who will step down as CEO in the fall and turn over the keys to Michael Copeland, acknowledges that offering fixed-odds racing is a long-term quest. Woodbine will continue to lobby to have a sportsbook product incorporated into its off-track betting sites across Ontario, and to find a partner for retail sportsbooks at its Woodbine and Mohawk facilities. Potential partners IOHO include OLG, the presenting sponsor of the Canadian Triple Crown, Fitzdares (which is hip-deep in horse racing partnerships in the UK), and FanDuel, which has a retail sportsbook onsite at the Meadowlands track in New Jersey.
“(Wednesday’s announcement) is Step One,” he said. “I can see a sportsbook coming, and new relationships.”
As for Sunday’s race - already sold out but which will be televised on CTV and TSN beginning at 4:30 p.m. ET (our American subscribers can watch the race on FanDuel TV) - Kalik was the 3-1 favourite at draw time yesterday. If you’re looking for a bit of a longshot, we suggest laying down a farthing or two on 12-1 Wickenheiser. Fillies have won five of the past 12 Plates.
The story that keeps on giving. . . and giving
Last week’s wheeling and dealing between ESPN, Penn Entertainment and Barstool Sports has created a story that’s not disappearing any time soon.
So. . . . this publication’s Administrator of Aggregation has been busy filling the GNC Google doc of links with further reporting, analysis, insight and opinion, including:
Erich Richter of the New York Post on what he sees as a bit of risky business done by Penn last week.
Not surprisingly, there’s more than a modicum of interest in ESPN Bet joining the legal sports wagering market in New York.
Brian Wyman of The Innovation Group took a broad-strokes approach in breaking down the deal.
Brendan Coffey of Sportico had the goods on Dave Portnoy quickly cashing out his Penn stock.
And this:
Speaking of Barstool, Mary Jane Fox of Vanity Fair spoke with CEO Erika Ayers Badan the day after the deal was done about why Barstool Sportsbook didn’t work, and what’s next for Barstool Sports.
Derek Thompson of The Ringer did a deepish dive into the current business woes of the entertainment industry, including the owners of ESPN (rhymes with frisbee).
JohnWallStreet makes his Gaming News Canada return with an analysis piece in his newsletter on the deal being a gamble for both the Worldwide Leader and Penn.
Bloomberg’s Gerry Smith on how legal sports betting in the U.S. captured the hearts (and digital wallets) of sports leagues and ESPN.
Dave Briggs of Play Illinois on how ESPN Bet could give Penn a lift in the Prairie State.
Dustin Gouker keyboarded in The Closing Line about the Barstool Sportsbook experiment that fell flat as a crepe.
Eric Ramsey of Legal Sports Report also took a big swing at what will, and could, be seen with the ESPN Bet app.
Speaking of the app, from Eilers & Krejcik Gaming in its latest U.S. Sports Betting Market Monitor report:
We’re bringing back the Gaming News Canada Show band
If you’re a recent subscriber, you’re likely unaware about the decision made at Gaming News Canada headquarters towards the end of June that we’d take a hiatus over the summer from our Thursday afternoon rendezvous on LinkedIn Audio to give our regular contributors and our loyal listeners a break. Instead, we’ve been recording interviews with an array of guests and thanks to them all for joining us, including Jeffrey Haas on last week’s podcast.
Well, we’re following the lead of Ellwood and Jake and bringing back the band this week.
Amanda Brewer, the Canadian country manager for Kindred Group; Kris Abbott, the CCM for Betano; and PointsBet chief commercial officer Nic Sulsky, are scheduled to join yours truly for a catching-up of sorts on the biggest stories from the business of sports betting and gaming during the Summer of ‘2023.
Our conversation with the Toronto trio will be recorded Friday morning and we’ll lean on our executive producer to get the pod sent to your inbox for the drive home that afternoon. If there are any topics you’d like to have discussed by Brewer, Sulsky and Abbott, drop us a line at steve@gamingnewscanada.ca.
Register (at a discount) for SBC Summit Barcelona
We interrupt your daiquiri dalliance on the dock, that putt-from-another-area-code putt for triple-bogey, putting a worm on the hook hoping to land the big one, or adding an extra shot of espresso for that morning cup of wake-up to sip on the deck.
The SBC Summit Barcelona is just around the corner, and Gaming News Canada is offering 50 per cent off the regular price of full-access tickets. You can take advantage of this special deal by going to the summit’s registration page and using the code PARLEHPARTNERVIP.
Canadian Gaming Association grand poobah Paul Burns will lead an all-Canadian roundtable on the second day of the conference on what’s next for sports betting/gaming advertising in Ontario. The CGA president/CEO may want to have a Plan B on his cellphone, given we’re still waiting for the AGCO/Douglas Ford government to find common ground on new advertising standards.
On the Home Front
Ye olde ribbon cutting took place last night as Great Canadian Entertainment unveiled the PlaySmartOLG Centre at the Great Canadian Toronto Casino Resort:
Caesars Entertainment let it be known yesterday that its igaming app and desktop platform is now available in Ontari-ari-ari-o.
In case you missed it in Tuesday’s dispatch, Homestand Sports is offering Canadian soccer fans a chance to put their knowledge and passion for the Premier League to work this season with a free-to-play contest.
The gang at BtoBet toasted its new partnership with Play Alberta - highlighted by an upgrading of the AGLC’s online sportsbook - and its entry into the North American market (assuming the liquor of choice was Canadian Club, and there was maple icing on the cake. . . .):
The blog on GeoComply’s website recently included a post about the impact user experience has on customers in Ontario’s regulated gambling market.
Bright AI, which was acquired by British Columbia-based Kings Entertainment in July, has big plans for its Canadian operation.
Classified (Jobs) Information
A classy gesture this week by Rootz human resources head Christine Hill, who reached out - via LinkedIn post - to BetMGM employees whose lives have been impacted by the shutting down of the company’s online sports betting business in eight U.S. states.
FanDuel Canada has an opening for a Compliance Associate.
Bet99 has positions open in Ontario for a Marketing Affiliate Associate, and for a Customer Engagement Associate.
Fitzdares is hiring a Marketing Manager for its Ontario business.
BV Group is looking for an Acquisition Manager - Canada.
Underdog Fantasy is on a seek-and-employ mission for a Vice President of Finance.
The British Columbia Lottery Corporation (BCLC) is in the market for a Senior Specialist, Player Health Integration.
OLG is searching for a Senior Retail Sports Analyst.
Paramount Commerce has a remote opening out of its Toronto office for a Lead Generation Marketing Manager.
ComeOn Group is offering a number of employment opportunities.
Penn Interactive is seeking a VIP Associate - APAC.
iGaming Platform has an opening for an Account Manager - Aggregator in St. Julian’s.
GGTech Entertainment has a remote opportunity for a Competition Manager - U.S.
Nos amis at The GIST are on the lookout for a Senior Growth Manager.
Bulgaria-based Rise The Web has an opening for a Senior Affiliate Manager.
Vancouver Whitecaps FC is searching for a Chief Business Officer - Women’s Soccer.
The Western Hockey League is seeking a successor for Ron Robison, who will retire as the league’s long-time commissioner after the end of the 2023-24 season. The Ontario Hockey League is also looking for a new commish after David Branch announced last week that 2023-24 will be his 45th and final season.
Speaking of the OHL, the Peterborough Petes are in the market for an Executive Director, Business Operations.
A potentially cool gig opportunity as Senators Sports & Entertainment in the nation’s capital is seeking a Senior Manager Hockey Outreach, Alumni & Player Engagement.
The Philadelphia Flyers are hiring an Integrated Performance Analyst - Philadelphia Flyers.
The sports governing body for figure skating in our home and native land has an opening for a Digital Communications Manager.
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