Virtual Racebook races happen at 5 minute intervals, giving horse bettors a chance to gamble in-between live races.
The Silver Sevens Casino and the Plaza Hotel & Casino in Las Vegas are offering a virtual racebook to gamblers. The virtual races are considered “filler product” by the casinos, who offer them for horse racing bettors in-between races.
The Plaza and the Silver Sevens are both owned by William Hill US, the biggest sportsbook in Nevada. William Hill was approved by the Nevada Gaming Control Board for virtual races in 2015, but it has taken some months to implement the program.
A virtual racebook simulates real life races with software, much like sports-themed video games simulate sports like NFL football, Major League Baseball, and NBA basketball. The virtual racebook gives the feel of a traditional form of gambling, while offering it in a cutting edge 21st century form.
Racing Every 5 Minutes
William Hill is going to have a virtual race every 5 minutes. In between races, gamblers will be able to wager on the event, much like gamblers would gamble on real life horse races. The William Hill virtual racebook is going to feature commentary from retired race announcer, Tom Durkin.
According to the Las Vegas Sun, the races are going to feature between 8 and 12 horses. Players are going to be able to bet to win, place, and show. Also, exactas and trifectas are offered to bettors.
William Hill’s Plan
Willim Hill spokesman Michael Grodsky said his company considers the virtual racebook gaming in the two casinos to be a field trial. If everything goes well, then William Hill plans to offer the same content in all their Nevada sportsbooks. William Hill USA has over 100 full service & kiosk locations in Nevada.
Mr. Grodsky said, “We just want to see how it fits. If and when we receive the approval after the field trial, we will begin expanding virtual racing to other locations across the state.”
Grodsky said it is too early to tell if virtual racing is going to appeal to American gamblers. He said that 18% of betting in William Hill’s UK sports betting venues is done on their virtual racebook. Betting preferences are different from one culture to the next, so UK betting habits might not be the same as US tendencies.
Decline of Horse Racing
The popularity of horse racing has been on the decline for 30 years. A Harris Poll in 1985 showed that horse racing was the 8th-most popular sport in the United States. 4% of the American population considered it their favorite sport.
Playing Legal released research in 2015 which indicated that horse racing is now the 13th-most popular sport in the United States. Only 1% of the public considers it their favorite sport. Now, horse racing is considered a sport for the elite, where working class gamblers went to the racetrack a generation or two ago.
Jockey Club Statistics
In 2011, the Jockey Club found that crowds and betting on horse racing is on the decline. From a peak of $15.2 billion wagered in 2013, it dropped to $10.6 billion in 2015. That is a steep 2-year decline for a form of wagering.
The Jockey Club speculates that Americans have a proliferation of entertainment options (cable channels, the Internet, smartphones), which did not exist a generation ago. It also should be mentioned that a proliferation of betting options exist, with the advent of tribal gaming, online and mobile gaming, and multi-state lottery associations.
