HKJC bets on new technology to revolutionize horse racing

    Published in: Latest IntelligenceThe Hong Kong Jockey Club is boasting a world-first application of technology originally used in derivative financial markets, and innovation experts say has the potential to revolutionize pari-mutuel wagering and in turn help reinvigorate the sport of horse racing.American firm Longitude has provided the Jockey Club with the capabilities to begin what is known as “single-pool wagering” – which is hoped will smooth out rapid price fluctuations by sharing liquidity across pools and at the same time provide real-time odds updates for customers on complex bet types. The Jockey Club also plans, in time, to use the Longitude system to introduce a range of new bet types that will allow customers to “mix and match” across different pools and races.Longitude’s globally patented technology was first used in financial markets for the pricing and settlement of a range of credit and economic statistics, but also to analyze...

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