Mysore Race Club back in business; introduces 'Fixed Odds Betting'

Ikram Khan | NT 

Mysuru: After the Mysore Race Club (MRC) chose not to conduct inter-venue betting for a couple of days following a police directive to conduct off-course betting with only 200 people, the popular club spearheaded by chairman Y B Ganesh was back in business conducting the Mysore races on Wednesday. And to the delight of the railbirds, four firm favourites and one well supported second choice nailed bold colours to the mast in the eight-event card.

“We missed out conducting inter-venue on the Chennai and Hyderabad Derby, but now that we are back, the racing buffs at this centre are delighted and the good results today saw most punters return home on a happy note,” said Ganesh pointing out that the club provided one more betting option to the punters and the railbirds were pleased with the introduction of Fixed Odds Betting (FOB).

A good number of small bettors always wanted the club to give them this betting option. People, who cannot invest with bookies wanted one other option apart from betting at the tote simply because the dividends at the tote following the 28 percent GST slab were not favourable against the odds offered at the bookies ring. Now that MRC in association with Treasure Win Enterprises (TWE) started Fixed Odd Betting from the 10 terminals the response on the first day was very encouraging.

“FOB made a good start and the punters are now pleased that they can choose from the two options. And the response will only get better, said Ganesh adding that idea is to facilitate the railbirds while exploring all revenue earning options.

FOB is the traditional form of betting wherein fixed odds are offered to the investor at the time of betting and there is no fluctuation on the payout. A couple of racing patrons disclosed that on the first day, Fixed odds offered on the leading contenders in a race were better than the prices quoted against these horses in the betting ring and that’s a good sign from the small punters point of view.

The club is positive that this new introduction will generate the desired volumes in the months ahead and it simply is a win-win-win option for the club, government and the punters,” said Ganesh.