Horse racing is scrambling to keep the sports fans to decide just might be a sucker bet.
The industry faces a widening investigation into what appears to be a spectacular betting fraud. At last month’s Breeders’ Cup, long-shot bets correctly predicted the Pick Six - winners of six designated races - producing gains of about $ 3 million. With the FBI and U.S. Attorneys having joined the probe, several suspects surrendered to authorities Tuesday.
Horse racing marketing, however, are not waiting until the case is closed to keep it from cutting into consumer confidence.
Karl Schmitt, senior vice president at Kentucky’s Churchill Downs, says the betting scandal hasn’ta hurt business. But when it comes to letting the Breeders’ Cup racing bets sully’s image, “We are treating it very seriously,” he says.
Churchill Downs, home of the Kentucky Derby, has already changed locks and computer passwords in the center where it installed and processes betting new security cameras.
Beginning Wednesday, Churchill Downs and the five other tracks it owns will close all off course betting about two minutes before the gates open instead of waiting until the moment they opened.
Schmitt says that move is meant to address last-second changes in betting odds bets as filter in from across the country. Only about 20% of horse racing bets at the national level actually come from people watching the race in person.
By having more time to s’endurcissent an odds before starting courses, says Schmitt, might avoid some tracks “perception” problems. “A lot of horse players are saying, ‘What’s going on?” “He says.” We are trying to get past that. ”
But what went wrong with the Pick Six bets apparently happened far from the public’s eye. Although the suspects maintain their innocence, and no charges have been filed through Friday, investigators are looking at the idea bets involved the inside from its manipulation betting system
Derrick Davis, 29, placed the bets via a touchtone phone service through an off-track betting outlet in Catskill, NY, that its phone record does bets. And Auto dead Systems, which supplied the dead betting system used by that OTB outlet, a software engineer Chris fired the urine, ie 29, and a fraternity brother of Davis’ at Drexel University.
Tim Smith, commissioner of the National Thoroughbred Racing Association, which oversees the sport, says a industrywide task force has been formed to respond to the scandal. Some might be specific reforms responses to the Breeders’ Cup bets, such as requiring all off-track record to their sites betting by telephone. And there’s the idea that off-track sites should forward their Pick Six bets the host track to quickly rather than waiting until after the fourth race, thus reducing time for betting to be doctored.
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