Exchange Wagering Plans in the works in California

 “Horse racing is in trouble,” said Ed Martin, president of the Association of Racing Commissioners. “There are tons of people whose livelihoods rely on this industry. This industry has to adjust to the technological revolution.”

Horse racing is the only legal online gambling in the United States. About 20 percent of all bets are now made from home, according to industry data. That’s expected to grow to 44 percent by 2020.

Currently, online betting sticks to the same parimutuel formats offered on track. Wagers go into a common pool for each race and type of bet, with final odds and payoffs determined by the total amounts bet before the starting gate opens.

Instead, exchange wagering acts like a stock exchange… READ MORE

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About Editor

Rich Nilsen is a 19-time qualifier to the National Horseplayers Championship (NHC), an event he has cashed in four times. He was the first player to finish in the top 10 of the NHC twice. A former executive with and a member of the NHC Players’ Committee, Rich is a graduate of the University of Louisville Equine Business Program and is founder of, a site devoted to horse racing education and promotion.

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