The first “Global Bet” will be offered June 10 when wagering outlets in nine countries take trifecta bets on the Prix de Diane Hermes (Fr-I), the French Oaks, from Chantilly racecourse in France.
The International Federation of Horseracing Authorities said it’s the first time so many countries will partake in a common pool on one race. Patrons will be able to only play a trifecta, with a minimum bet of $1, on the French race.
The IFHA said races from Royal Ascot in Great Britain and other major races in Australia, France, and South Africa will follow this year. Among the United States races being considered for inclusive this year is the Arlington Million (gr. IT).
More races will be added in 2008, and at some point the wagering menu may expand. Canada is expected to join next year.
The international commingling initiative was developed under the auspices of the IFHA with involvement of Australia, Hong Kong, Japan, Singapore, South Africa, the United States, Canada, France, Great Britain, and Ireland. The group tackled regulatory restrictions, interconnectivity between tote systems, variations in taxation, different takeout rates, variations in local bet types, and other issues before putting the plan in place.
“This is a truly exciting day,” IFHA executive director Maurits Bruggink said. “Global competition of the world’s best horses in the sport’s premier races has been a reality for some time now. It was clear to us that the next step had to be the creation of a medium for racing fans everywhere to become fully involved. The Global Bet does this, because it makes it possible for racing fans across the globe to bet on some of the world’s most prestigious races. This initiative will set the stage for great opportunities for the global pari-mutuel industry by taking advantage of advancements in the technology.”
The Global Bet comes as the racing industry seeks to cultivate international wagering.
“The Global Bet will be a big success," Bruggink said. “The potential of allowing every punter in the world to bet on a race at the Breeder’s Cup, for example, in a global pool, is absolutely huge. We are trying a to achieve a life-changing bet.”
On June 10, PMU, the French pari-mutuel company, will take the commingled wagers. According to a release from Meadowlands and Monmouth Park, two of the U.S. tracks that will offer the Global Bet, post time for the race is 10:30 a.m. Eastern time. The race will be designated as the “Global Trifecta.”
A list of U.S. wagering outlets offering the bet wasn’t immediately available.