Horse Racing’s Modern Makeover: Industry Leaders Champion HHR and Fixed-Odds Wagering
At last Saturday’s National Council of Legislators from Gaming States (NCLGS) winter meeting, gaming industry leaders convened to explore how historical horse racing (HHR) and fixed-odds wagering are reshaping the future of horse racing. The session spotlighted the sport’s evolution in response to shifting consumer preferences and the broader gaming ecosystem.
Louisiana’s Racing Legacy Meets Modern Innovation
Former Louisiana Senate President Patrick Cortez opened the panel with a nod to the state’s deep racing heritage, citing the Fair Grounds Race Course, established in 1872, as a symbol of enduring tradition. Today, Louisiana exemplifies racing’s transformation. Brett Bonin, Assistant Attorney General for the Louisiana State Racing Commission, described a robust and diversified gaming landscape:
“We have four tracks with slots and approximately 30 OTBs that can run unlimited video poker and potentially 50 HHR machines.”
HHR: A Lifeline for Racing Economics
Joe Morris, Senior VP of Racing at Caesars Entertainment, emphasized HHR’s pivotal role in revitalizing racing’s financial foundation.
“To help that industry that’s a couple hundred years old, they tie casinos to it,” Morris explained, pointing to Churchill Downs, which now boasts the nation’s highest Thoroughbred purses thanks to HHR revenue.
Morris also highlighted Kentucky’s success, where HHR has catalyzed new racetrack development and elevated Standardbred racing to unprecedented levels:
“It’s the highest dollar [Standardbred] program anywhere.”
Fixed-Odds Wagering: Racing’s Gateway to a New Generation
The panel turned to fixed-odds wagering as a strategic imperative for attracting younger bettors.
“Unfortunately, in racing, we have a dying customer base,” Morris noted, contrasting it with the youthful surge in sports betting.
He unveiled Caesars’ upcoming “one wallet system”, designed to integrate horse racing and sports betting into a seamless user experience—an approach aimed at expanding racing’s reach and relevance.
Bill Pascrell III, representing BetMakers Technology Group, reinforced the global standardization of fixed-odds betting:
“It’s not a panacea, but it’s the norm in 90% of global racing markets. Every punter in sport in America will understand the value proposition.”
Pascrell stressed that successful implementation hinges on collaboration:
“Tracks, commissions, and horsemen—period, full stop.”
Accessibility and Audience Expansion
Phil Reale, a West Virginia lobbyist drafting fixed-odds legislation, focused on simplifying the betting experience for newcomers:
“A college kid who goes to the track… they don’t care about perfect conditions or what a furlong is. They just want to know: if I put 10 bucks on this horse, how much am I gonna get back?”
Reale dismissed fears of fixed-odds cannibalizing pari-mutuel wagering, arguing that the two models serve distinct demographics.
Tradition Meets Transformation
The panelists collectively painted a picture of an industry at a crossroads—preserving its storied legacy while embracing innovation. Morris underscored HHR’s role in “leveling the playing field” for states without full-scale casino gaming, while fixed-odds wagering emerged as a critical tool for long-term sustainability.
Together, these innovations signal a strategic shift: racing is no longer just about the track—it’s about meeting bettors where they are, with products that reflect modern expectations. As the sport adapts, HHR and fixed-odds wagering stand out as essential pillars for competitive racing programs and generational growth.
