Racing Victoria (RV) has adopted an array of new technology which is set to improve the customer experience for punters and Victorian racegoers.
The technology upgrades taking effect from August 1st, which have been developed in conjunction with Dynamic Odds, a subsidiary of BetMakers Technology Group (BetMakers), includes new barrier tech, interface upgrades and improved odds calculations.
Barrier Tech is new technology developed exclusively for RV which provides real-time data on the loading of horses into the barriers before each race, alerting punters if a runner is backed out and/or if a runner is undergoing a veterinary examination behind the barriers.
This technology will be initially trialled across Victorian metropolitan meetings and transmitted to on-course screens at race meetings across Australia.
An expansion of the service to provide direct data feeds to Wagering Service Providers (WSP) for integration into their digital platforms is planned.
RV Chief Executive, Giles Thompson, said: “We are continually exploring ways to enhance the experience for punters and racegoers engaging with Victorian racing, particularly through innovative solutions.
“We have been working with the team at BetMakers over several months to develop Barrier Techand we are delighted to begin rolling out this sophisticated technology product ahead of our Spring Racing Carnival.
“Barrier Tech is captured and displayed in real-time and will prove to be a very valuable tool for punters who like to place wagers in the final moments before a race begins, while also providing us with valuable intelligence that can be used by our veterinary and racing teams.
“The Barrier Tech technology will initially be trialled on-course for our metropolitan meetings, however, we are actively exploring integration opportunities with WSPs and broadcasters to expand its benefits more broadly.
In light of the continuing evolution of the wagering market, RV recently completed an extensive review of the VOP, surveying over 700 customers and consulting directly with key stakeholders, including WSPs, to determine its effectiveness.
This review has resulted in three key changes to the methodology – the sample of WSP prices used to determine the VOP has been adjusted from 10 to seven, the VOP will be represented as an average price available in the market as determined according to the median value, that being the fourth price in the seven price sample and a reduction in the current requirement for an increase in WSP price to be available for 40 seconds to 30 seconds for it to be included in the VOP sample.
“Victoria was the first jurisdiction to introduce the new official price technology and after allowing it to consolidate we’ve now conducted an extensive review to ensure that it remains a valuable asset for a range of stakeholders.
“The enhancements announced to the calculation of the VOP from 1 August will ensure that the price communicated for each horse is even more relevant and more accurate which is positive for punters.”
Thirdly, the large format interface used to display the VOP and other official prices on screens at Victorian racetracks have been updated to incorporate the Barrier Tech information and deliver a more contemporary graphics presentation.