When the U.S. Supreme Court cleared the way for fixed-odds sports betting to sweep the nation in 2018, horse racing insiders may have felt as though the industry was the thoroughbred Sham, leading early in the 1973 Belmont Stakes with Secretariat breathing down his neck.
We all know how that race turned out.
But this race has taken an interesting turn — to the point where it’s not really a race anymore. Within the past year, several mobile sportsbooks — FanDuel, DraftKings, BetMGM, Caesars, and PointsBet among them — have launched their own online horse betting platforms, known as ADWs (short for advance deposit wagering) in industry parlance.
