Horse betting apps are mapping out the next steps following a successful Triple Crown season, which saw record handle from hundreds of thousands of new customers.
Sportsbooks investing in horse betting products and striking deals with racetracks drove much of that success.
FanDuel touted substantial growth across its product line between the Kentucky Derby, Preakness, and Belmont Stakes. Executives told LSR on Tuesday that more than 800,000 customers bet on the Triple Crown across its online sportsbook, FanDuel Racing app, and TVG horse betting app.
Horse betting a permanent fixture?
The total number of players was up 15% over last year’s Triple Crown, driving a 10% handle increase through the trio of FanDuel platforms. The operator did not provide a specific dollar figure.
“It was a great Triple Crown driven by having horse racing in (the sportsbook app),” Andrew Moore, GM of FanDuel Racing, said. “What we will be tracking going forward is whether horse racing would be something we make prominent in the sportsbook on an evergreen basis or only at select moments through the year.”
More than 550,000 customers bet the Triple Crown directly through the FanDuel Sportsbook, up 20% from last year. Legal Kentucky sports betting being available for the first time during a Kentucky Derby helped increase FanDuel numbers.
Broadcast deal drives sign-ups
For the New York Racing Association (NYRA), its Belmont Stakes broadcast deal with FOX Sports contributed to significant growth in registrations for NYRA Bets, its horse betting app.
NYRA did not provide specific Belmont Stakes registration numbers but did tell LSR that overall sign-ups jumped 159% from 2022 to 2023, the first year FOX broadcast the race.
This year, registration increased 238% over 2022 figures despite a slight dip in the TV ratings.
Next steps for horse betting
With attention turning to the summer racing season, FanDuel told LSR it would be “business as usual” at Del Mar near San Diego this year. The operator will broadcast live on FanDuel TV from the track on race days.
Del Mar also hosts Breeders’ Cup betting this year, with FanDuel as its official betting partner. FanDuel has sponsored several races this year as well.
NYRA will continue its summer broadcasting schedule with FOX Sports. The pair will produce a betting-focused show, Saratoga Live, each race day as they have since 2016.
Saturday broadcasts will air the marquee races nationwide on FOX, including the Travers Stakes on Aug. 24, which is sponsored this year by DraftKings.
