The next step in uniting global wagering outlets will take place when the Hong Kong Jockey Club hosts “world pool” betting on the Super Saturday and World Cup meetings in Dubai next month.
The Jockey Club confirmed on Thursday the next edition of the “world pool” – in which pari-mutuel operators across four continents commingle their holds on win, place, quinella and quinella place bets – is going to take place at Meydan after a successful launch of the concept at Royal Ascot last year.
“We created a new dimension to commingling with the first global pool at Royal Ascot which enabled people around the world to make use of huge liquidity and led to a 60 per cent increase in turnover,” Jockey Club chief executive Winfried Engelbrecht-Bresges said.
“We are now applying the same concept to Dubai. As a truly global racing event, Dubai’s Super Saturday and Dubai World Cup meetings attract world-class horses, jockeys and trainers.
“Commingling provides our sport with a golden opportunity to harvest the full potential of global racing and we are delighted to announce these two fixtures as the next destinations on the growing world pool rota.”
Engelbrecht-Bresges has championed international commingling for years, reiterating the point in his keynote address at last week’s Asian Racing Conference in Cape Town.
He believes it is the future of betting as it provides the same odds no matter where a customer bets, eliminates arbitrage opportunities for illegal bookmakers and is attractive for punters as it provides more stable prices with bigger pools.
For next month’s events, partners from Australia, Canada, Europe, Singapore and the United States will be commingled into Hong Kong’s pools.
“It is important to note that unlike Royal Ascot, there is no domestic betting in Dubai to merge with Hong Kong pool,” Jockey Club executive director of customer and international business development Richard Cheung said.
“This will have to be a long-term partnership to grow the pool together and 2020 is a great start.”