Q&A: David Haslett, chief executive, Sky Racing World
Haslett explains why Australasian horseracing will be the next big thing in the North American marketÂ
Earlier this week Sky Racing World signed a deal to provide the New York Racing Association with live streaming on all horse races taking place in Australia, South Africa and New Zealand. [private]
Below chief exec David Haslett talks about why Australasian horseracing is growing in popularity in North America, and its plans for the Melbourne Cup taking place next week. Â Â Â
Q: How big is Australasian horseracing in the US? Is it growing in popularity?Â
A: Australasian horseracing is becoming increasingly popular in the US. Over $200m is projected to be wagered on these international races this year alone. Beyond 2015, the amount wagered is growing by approximately 10% annually, giving you an idea of what we can expect from this niche in the future.
American bettors are interested in Australasian races because they are high-quality thoroughbred races with good pay-out opportunities. Also, because of the time difference between Australia and New Zealand and the US, they are being offered in the night-time when American races arenât taking place.
Q: What are your plans for the Melbourne Cup? Will it be a big driver of revenue for your partners?
A: All of our partner advance deposit wagering sites, including but not limited to, TVG, Twinspires, Xpressbet, Betamerica, MyWinners and NYRA, will be offering a live video stream of the Melbourne Cup on Monday night, November 2. It will also be broadcast on TVG, NYRA network, as well as at all tracks and off-track betting outlets that are open for the event.
In terms of revenue, approximately $1m is expected to be wagered on the Melbourne Cup in North America. Monday is typically the lowest day of the week for wagering volumes in the North American market. So, yes, the revenues it brings in will likely be significant.Â
Q: When did you first enter the US market? How does your business relationship with Tabcorp work?
A: The Sky Racing World brand was established in March 2014 to directly manage, market and distribute Australian and New Zealand horseracing in the Americas. We are a wholly owned subsidiary of Tabcorp.Â
Q: What are your plans for growth in the coming months, particularly when it comes to online?
A: In the coming months we plan to expand the number of tracks and races offered to the North American market and to continue to engage more ADWs and online operators. In the future we will look to offer harness racing as well. Â
Q: What trends are emerging in the online horseracing sectors in the US? How will you capitalize on those trends?
A: As online continues to grow, operators are looking to engage with their players at all hours of the day. As a result of the advantageous time difference between the US and Australia as well as New Zealand, Australasian racing fills the niche night-time period and provides quality wagering opportunities.