Michigan authorises fixed-odds horse racing bets on online sportsbooks
The Michigan Gaming Control Board (MGCB) has authorised the state’s licensed online sports betting operators to offer fixed-odds wagers on horse racing, allowing customers to lock in the displayed odds when placing a bet.
The change took effect on Friday, 30 October. Operators may offer fixed-odds betting alongside, or instead of, traditional pari-mutuel wagering, where payouts depend on the betting pool and odds can change until the race begins.
A new option for bettors
“This change reflects where the horse racing industry itself is heading,” MGCB Executive Director Henry Williams said.
He explained that bettors had asked for the “straightforward, locked-in odds experience” familiar from sports betting, adding that the expansion would be subject to regulation.
“Adding fixed-odds wagering to our catalogue lets us meet that demand while continuing to support a fair and well-regulated horse racing market in Michigan,” he added.
Fixed-odds horse racing markets will be available within existing online sportsbook platforms, enabling customers to place race wagers alongside bets on other sports.
The MGCB said safeguards applying to Michigan’s sports betting market, including licensing requirements, age and residency checks, and responsible-gambling tools, will also apply to the new products.
Fixed odds alongside pari-mutuel betting
Unlike pari-mutuel betting, fixed odds give customers certainty over the price of a wager when it is placed. The format is widely used in European betting markets and by retail bookmakers. For operators, it can offer more control over their exposure to potential payouts than a shared betting pool.
Horse race mobile betting was first introduced to Michigan’s regulated online betting market in January 2021. The move reflects a broader industry effort to bring racing to customers accustomed to sportsbook-style interfaces.
Several US states and operators have tested or introduced fixed-odds racing, with New Jersey being the first state to legalise the style of betting in 2022.
Licensed platforms can begin offering the wagers from 30 October, subject to platform approvals and MGCB oversight.