With 92% of filmgoers enjoying Seabiscuit the movie that takes place during the Great Depression, it is a positive indication of just how popular horse-racing remains. It is favoured as racing as well as betting sport, and the film was nominated for many Academy Awards. The film is not based on a true story but instead on the novel and inspired by how popular horse-racing became near the end of the depression in the United States.

Seabiscuit Film is as Uplifting as it is Heart-Warming

Film critics described the film as uplifting and heart-warming, while many agree that it is one of the best movies inspired by horse racing. The film is not perfect although it is entertaining and loved by sports enthusiasts; it tells the tale of an underdog that keeps going, overcome all the obstacles and finally succeed.

Yay, or Nay to Pari-Mutuel Betting

Based on the ruling against specific ways of sports betting in the USA, the current laws are taking its toll on sports enthusiasts. Pari-mutuel betting is used in New Zealand, France, Hong Kong, Australia, Ireland, Britain and Canada. Even Japan uses it for betting on horses as well as motorcycle, hydroplane and bicycle races. In New Zealand, pari-mutuel betting is used for greyhound races, although the sport is lacking in popularity due to cruelty accusations by the ASPCA and PETA.

Pari-Mutual or Fixed Odds

In fixed-odds betting, the wager traditionally stands alone, if the punter visits a bookie to bet on a horse to win, the odds and terms of the payout are fixed at that minute. It is not influenced by how many bets on the same horse as the payouts you could potentially win is fixed. You either win it or, you lose. This is what is different in part-mutual betting; the punters don’t play against the horse, it is played against fellow bettors, the bets are pooled on a horse and betting takes place until minutes before the race starts. The more money made on a particular horse via betting, the less the prize and it makes it almost impossible for anyone to collect a massive jackpot.

Not Nearly as Popular as Previously – What Could Change in Horse Betting

Horse racing is not nearly as accessible as it previously was, and rumour has it that the pari-mutuel system will be scrapped, and horse betting will be fixed odds like it is on most of the pro sports teams. The transmission from pari-mutuel to that of fixed odds on horse racing will be challenging and time-consuming. In New York, the pari-mutuel system has been in place for over 140 years, and governments enjoy the steady revenues from pari-mutuel betting systems.

Seabiscuit & Horse Racing

The only hope is that the real horse-racing betting world will also face its obstacles, finds ways around difficulties and enjoy a happy ending like the film called Seabiscuit. It sure meets a few, and there are no quick fixes in view, but with time it could be back in favour.