Brazilian Bets on Breeders' Cup Considered Success

Brazilian Bets on Breeders' Cup Considered Success

Carnegie Cooke & Co, under its Brazilian brand “betBrasil,” reported record pari-mutuel handle for its first simulcast of the Breeders’ Cup World Championships.

More than 1,100 wagers were placed in Brazil among Carnegie Cooke wagering facilities in Niteroi, Campos, and its affiliate agency in Macae Oct. 26-27, with in excess of 75% of all wagers placed on races at Breeders’ Cup host site Monmouth Park, the company said in an Oct. 30 release. The two-day handle of more than $10,000 was the highest since Carnegie Cooke began operations in Brazil.

The company is licensed by the Brazilian government operate off-track betting parlors in certain regions of the country. The company, in partnership with Kentucky-based Charlson Broadcast Technologies, offers televised signals and betting machines.

Both companies have said the pari-mutuel system ensures all parties receive a cut of revenue from wagers. Bookmaking and payout limits are prevalent in Brazil; the pari-mutuel OTB network is in its infancy.

“We received a great-deal of positive feedback on providing real-track odds and no-limits on payouts for premium content,” Carnegie Cooke vice president of technology Juan Laguer said in a statement. “That is something that the patrons were not used to. We expect that our wagering revenues in Niteroi will surpass those that we’ve seen in Campos as we continue to add more top-quality tracks and continue marketing our competitive dominance.”

Carnegie Cooke said it used print and Web advertisement geared toward newcomers and experienced to market Breeders’ Cup wagering.

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