Fixed-odds Horse Racing Gains Traction in the United States With a Focus on Sports Betting

Fixed-odds horse racing is gaining traction in the U.S., with Louisiana exploring legislation to legalize it. Advocates like Jake Delhomme see it as key to revitalizing the state’s horse racing industry.

Fixed-odds horse racing gains traction in the United States with a focus on sports betting.
It was “taboo” for Jake Delhomme to discuss gambling while in the NFL. However, early this month, the now-retired, Louisiana-born quarterback found himself discussing just that before a congressional committee in his native state.

Delhomme went there to persuade the Louisiana House of Representatives’ Commerce Committee to allow fixed-odds betting on horse racing, a sport that the Delhomme family holds dear.

“I kind of laugh,” Delhomme informed the committee. “When we played in the NFL, it was considered taboo to discuss gambling. I mean, we couldn’t even discuss it. And now it’s kind of linked to everything in the NFL, and it’s just a massive cash stream that they’ve tapped into.”

Key Insights

The number of jurisdictions that allow fixed-odds wagering on horse racing might expand this year to four, as the sport seeks to increase betting revenue.

Fixed-odds wagering is already legal in Colorado and New Jersey, and lawmakers in West Virginia enacted fixed-odds legislation earlier this year. A fixed-odds measure is also being considered in Louisiana.

Former NFL quarterback and horse owner Jake Delhomme spoke in favour of the Louisiana fixed-odds law.

Delhomme and others are looking for a comparable revenue source for Louisiana’s horse racing business through fixed-odds wagering. House Bill 547, which would legalize fixed-odds wagering and contribute a portion of the proceeds to the sector, was also before the committee.

Republican Rep. Chad Boyer, who sponsored H.B. 547, described the bill as a “forward-looking step” toward modernizing the state’s racing business. He claimed it would provide gamblers a “more predictable and appealing alternative” to the conventional pari-mutuel gambling system.

“Fixed-odds betting is already gaining traction in other states and allows a wager to be locked in at the posted odds, much like sports betting,” Boyer said to committee members on May 12. “By adopting this model, we not only offer a more competitive product to racing fans, but we also create a new revenue stream that will directly support our local racing associations through a dedicated purse supplemental fund.”

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