PayPerHead Agents Expect 2021 Triple Crown Revenue Bounce Back
SAN JOSE, Costa Rica - April 27, 2021 - PRLog -- Because of the pandemic, the handle on the 2020 Kentucky Derby dropped significantly from the previous year. Handle on America's signature horse race fell 49.8% from 2019. Churchill Downs didn't run the race until September 5, four months after Derby's traditional race day on the first Saturday in May.
PayPerHead agents are hopeful the 2021 Triple Crown results in a racebook revenue bounce back. The 2019 Kentucky Derby set a record handle of $165.5 million. 2019's handle was 10% higher than 2018's $149.9 million, which had been the previous record.
This year's race lost star power after winter book favorite Life Is Good became injured. But Essential Quality is undefeated, owned by Godolphin, and trained by Brad Cox, who has ranked in the top ten in wins and earnings in the past four years.
The 2020 Breeders' Cup Juvenile winner won't be the only undefeated horse in the race. Rock Your World, who won the Grade 1 Santa Anita Derby, has victories over grass and dirt. Known Agenda, the Florida Derby winner, and Hot Rod Charlie, who won the Louisiana Derby, will also enter.
Although three races comprise the Triple Crown, for agents, the Kentucky Derby is the most important. Per Nate Johnson, PayPerHead's product development manager, the Derby attracts more betting action than any other thoroughbred event.
"The Kentucky Derby may be the most popular horse race in the world. In 2019, Japan saw $4.1 million wagered on the Derby. It's also the one race that should produce action for almost all of our agents," Johnson said.
PayPerHead agents see most revenue from the sportsbook, live in-game betting platform, and products like the digital casino and live dealer. Johnson said few agents rely on horse racing revenue but that all see horse racing action on the Kentucky Derby and Preakness Stakes.
When asked about betting action on the Belmont, Johnson said it was hit or miss. "Everyone wants to see if the Derby winner can take the Preakness. If there's a Triple Crown at stake, the same horse won both the Kentucky Derby and Preakness, the Belmont could attract more action for our agents than the Derby."
Johnson added, "Our agents count on the Kentucky Derby for racebook revenue followed by the Preakness. If different horses win the Derby and Preakness, the Belmont becomes just another horse race."
Founded in 1997, PayPerHead is the leading choice for serious bookies. The company's Agent Payment Solution (APS) is the only platform in the PPH sportsbook industry that allows for online collections and payments. Bookies can offer their players a racebook, a digital casino, a sportsbook with over 80+ leagues, and an in-game betting platform. The option exists for bookmakers to add a Premium Casino, Premium Live Dealer, Premium Player Props, and the Live+ betting platform with game trackers and video streams. PayPerHead also has a best-in-industry referral program so agents can add to their profitability. The company prides itself on providing industry-leading, top-class customer service with over 20 years of experience.
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Page Updated Last on: Apr 27, 2021