Podium and Predigy deal brings prediction-style racing bets closer

The prospect of prediction-market-style wagering on horse racing has moved a step closer, with Podium and US-based Predigy signing an exclusive, multi-year deal to develop Trade The Race, a yes-or-no betting product for licensed operators.

The companies will demonstrate the product at this week’s SBC Summit in Lisbon, ahead of its launch. Under the agreement, Podium will exclusively distribute the horse-racing application of Predigy Edge across regulated betting markets worldwide.

Trade The Race will turn measurable race-event outcomes into quick yes-or-no wagers, drawing on Podium’s live racing data and Predigy’s pricing technology. The companies intend it to sit alongside existing tote and fixed-odds betting products. The deal aims to bring prediction-market-style yes-or-no wagering into racing, but through licensed betting operators rather than a player-to-player exchange.

The companies are pitching the format to customers familiar with fast-moving, tradeable markets. They say its presentation will let people bet on racing without specialist knowledge of the sport.

“Racing operators are facing a more challenging environment, with growth getting harder, retention becoming increasingly important and market economics putting greater pressure on product investment,” Podium managing director Josh Sparke said.

“Predigy Edge is designed to engage a new generation of players through fast, intuitive Yes/No wagers without disrupting core betting pools,” Predigy founder and chief executive Kent Young said.

The agreement also allows Podium to distribute Predigy’s Edge Sports product to operators in the UK and Europe. Predigy says its technology is intended for licensed wagering operators and remains subject to local regulation. The companies have yet to specify a consumer launch date for Trade The Race.