Horse racing officials, looking to revitalize the pari-mutuel betting model, are turning to the financial world for technology to enable the development of new and complex bets.Pari-mutuel wagering has long formed the financial backbone of horse racing but as the sport comes under serious threat from sports betting and has its revenue drained by illegal bookmaking activities, the popularity of "totalizator" has waned. And complex technology originally applied to solve liquidity problems in derivative markets may now be the thing that comes to the rescue . . . This content is restricted to subscribers
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