Horse racing has a long history, having been a part of life in Ancient Greece, Rome, Egypt, Babylon, and Syria. Humans have been racing horses for sport for more than 2500 years, but in the modern-day, horse racing has started to spread to more people than ever thanks to the advent of very modern technology.
Livestreaming is a tech improvement on the user-side and means that anybody in any country where betting is legal can be transported to a racecourse anywhere around the world. That means somebody at the North Pole could connect to the internet and be taken to Australia by searching Autumn Racing Carnival Betting (though their connection probably wouldn’t be great). Livestreaming allows horse fanatics to keep up with racing events all around the world in real-time, meaning that watching big global festivals easily is no longer something only for the rich gambling elite.
Companies like Ardex are looking to revolutionise the breeding end of the racing world by offering software solutions to help breeders, trainers, pre-trainers, farriers, dentists, and agistment operators. There are significant data-enabled financial management solutions that help users track a horse’s value and manage a portfolio of horses or distribute money to winners of events. Statistics can be imported, so a horse’s history can be mapped, and owners can gauge its trajectory and change training, etc. Horse management software also analyses the procedures that a horse has been through and offers automatic advice, as well as match interested parties, transactions, discounts, etc. Cash flow and communication can also be automated.
When big data is applied to the hoard of horse racing information that’s available online, you can analyse it with machine learning and AI. One man hit the books and did some statistical analysis of Harness racing, a Swedish horse racing sport. He analysed all races in Sweden since 1995 and found that the favourite horse won 37% of the time. He then simulated picking the favourite horse to win with computer modelling and found that if he bet a dollar on a winning horse, he could make a profit. When combined with data about how much horses had to travel on race day and more, in an elaborate data pipe-line, he eventually found that his AI predicted the winning horse as well as the betting companies with their mass accumulation of knowledge
Virtual Blockchain Racing
Zed.run is a market where horses are represented in blockchain and can be bought, sold, bred, and raced to simulate the real stables experience, just without the massive investment requirement. Virtual horses have different genotypes and bloodlines, which can impact their racing positions, and there’s a huge marketplace where these horses are being bought and sold at auction daily. The blockchain is based on Ethereum, which is relatively stable, but it still means investments are matched to a volatile cryptocurrency. However, it still seems possible for stable-owners to make a profit – they can stud their horses for money, as well as win prize money, in a direction that might change the nature of the game.