The annual Global Symposium on Racing & Gaming premiered a new event this year in conjunction with its international focus.
The Global Simulcast Marketplace is designed to provide buyers and sellers of the racing product an opportunity to expand their business in the area of international simulcasting. Twenty countries are represented at the Symposium this year, and more than 40 racing organizations participated in the Global Simulcast Marketplace. The Marketplace was well received by attendees.
Paul Cross, General Manager of International Business Development for Australian company Tabcorp recognized the value of the event. “The Global Marketplace was a great opportunity for racing product exporters and importers to come together and explore mutually beneficial opportunities.”
The Marketplace comes on the heels of a Tuesday morning panel addressing the challenges associated with marketing a simulcast product internationally. Many of the panelists emphasized knowing the potential new market and the needs and wants of its bettors. Details such as minimum wager amount, availability of comprehensive past performance data, and whether a race is measured in furlongs or meters should not be overlooked. In some cases data must be converted to be more compatible with what is customary to the wagering public in the importing country.
Speakers also stressed the value of competitive fields rather than recognizable tracks. Smaller tracks can absolutely have a presence in the international marketplace, with panelist Phill Adams of Phumelela Gold Enterprises adding, “We’re not looking for beautiful hedges and beautiful horses. We’re looking for competitive races that will make us money.”
The University of Arizona’s Race Track Industry Program has gained worldwide recognition for its annual Global Symposium on Racing & Gaming held in Tucson since 1974. The event attracts attendees from across the United States and around the globe with cutting-edge topics and trends of importance to the pari-mutuel industry.
(Symposium on Racing & Gaming)