State Officials Urged To Consider Fixed-Odds Bets On Horse Races

Lawmakers and regulators in Illinois and Kentucky are being asked to consider allowing fixed-odds wagers on horse races, as racing interests seek to be more competitive against the expansion of legal sports betting.

Fixed-odds wagers, already popular in major racing markets around the world including Australia and the UK, would allow gamblers to compete against the house rather than for moneys pooled as part of the traditional pari-mutuel system.

Almost always in the United States, wagers on pro and college football, basketball, hockey and other sports are made according to fixed odds posted by a casino or online sportsbook.

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