Many racegoers have mixed feelings about off-track betting (OTB). On the one hand, it’s great to have the option to wager on a variety of exciting events, but on the other, one can’t help but feel a bit nervous about placing a wager knowing that some of the events might not be sanctioned. After all, what if the track is messed up or there’s an unexpected disaster during the race?
To find out more about what happens behind the scenes during an OTB wager, we reached out to Steve Jones, communications manager for the Jockey Club, which regulates horse racing in Great Britain. Here, he breaks down how OTB works and what the future of wagering might look like.
The Variety Of Events That Can Be Traded
The good news is that, in Britain, all horse-racing related wagers (excluding pari-mutuel wagers) are accepted at the same bookmakers, meaning that an OTB bettor can place a wager on the winner of any race, regardless of whether horse racing is sanctioned or not. That’s a big advantage when you consider that there are tons of exciting races that take place every year, many of which are sanctioned by the sport’s governing bodies. For example, the Victoria Derby is run in Victoria, England, every year and is sanctioned by the Jockey Club. Therefore, it’s perfectly legal for anyone to place an OTB wager on this prestigious event, which is often referred to as the “English Derby.”
This kind of mix of sanctioned and unsanctioned events is exactly what has made OTB so attractive to punters. After all, there’s a chance that some of the events could be canceled or called off, which is why many racegoers feel nervous about placing a wager, even though they might have a bit of fun thinking about it. But the good news is that, if the event goes ahead as planned, they stand a good chance of profiting from an inside information stream.
The Growth Of Off-Track Betting In England
As we’ve established, off-track betting has been legal in England for more than a century and has been a feature of the country’s sportsbooks ever since. Back in 1882, the first official all-sports betting shop was opened in London. Since then, the industry has grown rapidly, with more than 500 shops across the nation. Today, if you want to place a wager in a bookmaker in England, you’re going to be directed to an all-sports betting shop. This has undoubtedly helped to grow the industry because, in recent years, more and more people have been putting down their hard-earned cash on the side-bets. The most recent figures show that the number of people in England and Wales placing wagers through a bookmaker has risen by 25% in just five years, reaching 1.1 million bets per week.
One of the main reasons behind this rise is that, in recent years, there’s been a dramatic increase in the number of unsanctioned or illegal horse-racing related events that have taken place. For example, the Fix Festival, which promotes alternative and independent music, now takes place annually in October and has become a haven for fans of all ages. The festival was established in 2010 and is widely recognized as one of the most popular events of the year. It was born from the need to have a safe space for people who love music but also love football and would never normally be seen in the same place. This is just one example of a race that’s taken place without the sanction of the Jockey Club, but it’s one that lots of people in England know about. Indeed, the popularity of the festival means that the number of people placing bets on the event has risen by more than 50% in the last two years.
How Do The Terms Of The Jockey Club Role In Regulating Horse Racing Affect Betting?
One of the most interesting things about the UK horse-racing industry is how it intertwines with society. For example, the Jockey Club is actively involved in encouraging racegoers to come together and support underprivileged youth through their charity work. The organization also promotes social interaction and encourages everyone to participate in some way, regardless of whether they’re a professional sportsperson or not. Indeed, many big-name sports stars have come through the ranks of the Jockey Club and gone on to become well-known figures in their own right. One such individual is David Ginola, who was instrumental in bringing the first televised horse races to the UK back in the 1950s. Ginola became president of the Jockey Club in 1988 and went on to become a prominent businessman and philanthropist.
It’s this public/private element that gives the UK horse-racing industry its charm because, although the sport is a private one, it still enjoys a level of public awareness that can be equaled only by the Premier League. That kind of combined awareness makes it one of the most interesting wagering industries in the world. It’s easy to see why so many people across the UK choose to participate in the game, from the famous bookmakers who operate from top-notch headquarters in London to the hundreds of small, independent bookmakers who provide the game’s grassroots. The industry contributes a lot to the economy, with nearly £10 billion being wagered annually in the UK.
What’s The Future Of Off-Track Betting In England?
At the moment, it’s fair to say that off-track betting in England is in a period of transition, as regulatory changes are being considered by the government. As we’ve established, the industry has been around for more than a century, and although it’s still a popular way to wager, it’s always been somewhat of a ‘catch-as-catch-can’ operation. With new legislation on the horizon, it’s likely that the rules governing international sports betting might be extended to cover horse racing as well.
That’s a big issue for the industry because, in the past, the rules have always been somewhat different. For example, in 1919, Parliament passed the Betting and Gaming Act, which completely outlawed all forms of gambling, including off-track betting. The legislation was in reaction to the outbreak of the First World War and, although it was initially hailed as a success, it did cause the horse-racing industry huge problems. In particular, the passing of the Act prompted many bookmakers to close down, and it wasn’t until the early 1930s that they started to rebuild. It wasn’t until the 1950s that the industry really started to enjoy a period of expansion, with ITV taking on a greater number of sporting events and creating a television audience that had never really existed before. Since then, the number of people participating in the game has risen consistently. In fact, the total number of bets placed per week continues to rise every year.