Erick Caceres: Eurobets’ aim to innovate ‘legacy’ horse racing space

Eurobets is seeking to lead innovation in the horse race betting space to modernize a predominantly ‘legacy’ customer base in 2022, according to Erick Caceres, Managing Partner of the firm. 

Speaking to SBC Media at SBC Summit North America in New Jersey last year, Caceres pointed out that horse racing is ‘lagging behind’ other forms of gambling with the use of technology and that Eurobets is aiming to lead on that front within the next year. 

Asked about Eurobets’ plans for 2022, he remarked: “Interesting stuff. We’re going to continue to innovate and we’re going to continue to bring diversity into the horse racing space. As you know, it’s a legacy part of the wagering world. We lag a little behind in innovation and technology at this point so we want to lead in that area. 

“We want to implement as much technology as possible, increase the user experience and use everything that has to do with data. I think that data management is almost non-existent in our industry on the user side. Once we do that, it’s going to open up the world to us.”

Caceres later explained that the firm has a ‘two-fold plan’ to raise awareness and excitement around the horse racing market in the Dominican Republic. He noted that the one million horse racing fans have ‘dwindled’ over the last decade, largely made up of ‘legacy fans’ and that there is a need to ‘reposition’ the market. 

He added: “It’s a two-fold strategy. We’re repositioning the way these traditional horse racing fans can bet and what they have access to. For example, our main product is a PMU French races which was not made available in the Dominican Republic before. We’re doing that through two verticals, through the online platform which also didn’t exist in the Dominican Republic and also through our retail partner network.

“On the other side, the other four-plus millions that we know daily either play the lottery or bet on other sportsbooks, we want to try and attract some of that public. So we have repackaged one of our races that pays enough money to be considered a lottery. We repackaged as such, you don’t need to know so much about horse racing but you can basically press a button on our platform and make an automatic play.”

Whilst emphasizing that Eurobets wants to modernize the horse racing industry through the use of data and analytics, Caceres pointed out that the firm is seeking to ‘make racing cool again’ by designing ‘curated events’ and encouraging dress up and traditional horse-racing fashion tropes. 

He concluded: “We are designing curated events around the most important races around the year not only from France but also the United States where we’re doing the whole pop and circumstance. The dress-up, the big hats, the big cocktail-driven events and we’re doing that in the Dominican Republic where that hadn’t existed since the 1930s and ‘40s, thus we’re bringing back the status that the sport used to have in those days.”