Revolutionizing Merged Pools with Nasdaq Pari-mutuel Calculation Technology
The Hong Kong Jockey Club, one of the world’s leading horse racing, sports betting and entertainment organizations as well as one of the world’s top ten largest charity donors through The Hong Kong Jockey Club Charities Trust, recently launched a new bet type called Forecast, powered by Nasdaq’s pari-mutuel technology Longitude. The Forecast bet type, also known as the Exacta in other markets, involves choosing the first two finishers in a horse race in the correct order. In its recent launch, the Forecast was merged with the existing Trio bet type, where the first three finishers are chosen in any order, forming the new ‘Forecast & Trio Merged Pool.’
With the launch of the new merged pool, the Hong Kong Jockey Club continues to be a world-class racing institution, adopting innovative and sophisticated technology to best serve its customers. Using Longitude, the Forecast and Trio pools were combined to create a single, internationally commingled merged pool, allowing the Hong Kong Jockey Club to offer unrivaled liquidity and stability in their wagering pools, while expanding their offerings to their growing customer base in Hong Kong and worldwide.
“Hong Kong Jockey Club’s launch of Forecast and the ‘Forecast & Trio Merged Pool’ is an exciting demonstration of our technology partnership,” said Scott Shechtman, Head of New Markets, Market Technology, Nasdaq. “Wagering technology continues to advance, as do the racing fans’ preferences. With Nasdaq’s technology, Hong Kong Jockey Club can evolve their customer offerings with new bet types and merged pools using a system that can handle large transaction volumes and offer real-time data in a transparent manner. We look forward to supporting Hong Kong Jockey Club in their technology journey as they continue to execute on their vision and strategy.”
The Nasdaq Longitude technology gives sports betting and racetrack operators the ability to offer a wider range of bet types, a richer display of odds data, and bigger pools with more stable odds. By allowing a range of different types of wagers on an individual race or sporting event to be aggregated into merged pools, Longitude makes more efficient use of existing liquidity and enables a broader menu of bet types while providing transparency on the market.
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