Standardbred Canada is pleased to provide an update on the Wagering Action Plan, developed as a result of the 2008 Standardbred Wagering Conference held in April in Montreal.
Committees on Research, Distribution, National Pools and Products, Canadian Betting Exchange and Racing Product Development were formed and charged with the responsibility of collecting information that could be used in the preparation of business plans.
These committees, comprised of dozens of volunteers from outside and within the standardbred racing industry, held meetings, and spent many hours researching worldwide information on the horse racing industry. They have completed a tremendous amount of groundwork. Business plans, budgets, and structural requirements are now being developed.
Standardbred Canada has designated financial resources and a person who will focus entirely on the planning process.
The Research Committee reviewed over 80 reports collected from around the world and determined that there are successful models that have created growth in horse racing. Rather than reinvent the wheel, Standardbred Canada is developing four specific products for Canada based on successful worldwide models. Standardbred Canada feels confident these models can help to grow the Canadian Harness Racing industry.
- Lottery betting concept through thousands of distribution points around the country including the Convenience store network in Canada. This product will use successful lottery style models from around the globe as a reference.
- A 'National Betting Pool' product utilizing racetracks across Canada to develop wagering opportunities. This concept would not only be offered to Canadian racetracks but would be sold as a simulcast product to cities like Las Vegas, etc.
- Canadian Racing Betting Exchange, modeled after the incredibly successful betting exchanges used for British and Australian Racing.
- A traveling festival inspired by similar successes achieved around the world.
At this stage, 'Investment in Innovation,' a committee comprised of successful business people involved in, but not working in, the harness racing industry, has been formed. These skilled business people will provide advice through the business planning process. Their business networks will also assist in the funding work required to launch these new products.
Standardbred Canada would like to extend their thanks and appreciation to everyone involved in the Wagering Conference for their passion and support, and more particularly the Committee members for their hard work to date.