bwin has added horse racing to its betting line-up.
"On the new platform, bwin customers get to choose from a string of horse races from all across Europe, Canada and the US", said Stefan Wukovitsch, who is in charge of product management betting at bwin.
In classic sports betting, bookmakers rely on their expert knowledge to determine the chances of winning, using odds to express probabilities.
Horse racing, however, traditionally uses the tote system. For each race, the customers’ stakes are pooled and the odds are then determined for this pool. Once the race has finished, the pool is shared among the winners. Part of the revenue is invested back into promoting sports and horse breeding.
bwin focuses on strong partners among the horse racing organisers and works directly with the racing clubs. "Our partners guarantee an attractive line-up with up to 300 races a day, including live video broadcasts. This line-up is set to expand in the months ahead", added Wukovitsch.
