Beginning with its races on August 10, Horseshoe Indianapolis became the first track in North America to integrate projected win odds to its broadcast graphics in an effort to better inform horseplayers.
The rise of computer-assisted wagerers (CAWs), enabled to bet vast sums in the final seconds of betting, can impact horseplayers expecting one price after a prolonged period of odds observations, only to get a different price than anticipated.
Horseshoe Indianapolis partnered with the Daily Racing Form to introduce the feature. DRF Formulator Projected Odds have been a regular feature on that platform and are now shared publicly through this partnership with the track.
“By offering a look at the projected final odds of each horse, our bettors will have a more accurate gauge for each race,” said Eric Halstrom, vice president and general manager of racing at Horseshoe Indianapolis, in a press release on August 10.
“We are always listening to our customers, and that is one thing that was expressed frequently. The odds change often, especially when the horses are entering the starting gate and closing in on post time. This should provide players with detailed information while they are making their final decision on each race.”
The exact method used to calculate DRF Formulator Projected Odds is not known, though it is believed it accounts for previously closed, multi-race bets along with ongoing activity in active pools.
The first display of the projected odds, via the Horseshoe Indianapolis track feed, came with 12 minutes to the second race. At that time, the DRF Formulator Projected Odds identified #1 B Adman as a likely 9-5 shot in the win pool despite current odds shown as 6-1.
Meanwhile, #7 Bluff City was sitting at 7-5 in a live setting but was projected as a 9-2 chance at that moment.
As the final odds show (see below), #1 B Adman jumped at 8-5 while #7 Bluff City was sent off 4-1, both prices much closer to the projected odds than the actual win odds from early betting.
“Eric Halstrom and his team at Horseshoe Indianapolis deserve plenty of credit for going down this road and seeking to help racing’s mainstream customers better understand the direction of the win betting market,” said Thoroughbred Idea Foundation executive director Patrick Cummings.
“This partnership is a significant step in the right direction towards helping mainstream horseplayers better compete in a market where computer-assisted wagering is more robust than ever. Steps to help bolster mass market horseplayers are important for the sustainability of racing. Working with DRF to merge this feature to the track signal is one that can be easily embraced.
“While there are no guarantees that the projected odds will always have it right, or that this method is better than another,” Cummings added, “a track operator increasing its focus on how to present its product to its mainstream customers is a feature that should spread across the continent.”
