Michigan Gaming Control Board Introduces Fixed-Odds Horse Race Betting for Operators

The Michigan Gaming Control Board (MGCB) is enhancing horse race betting product by allowing operators to offer fixed-odds markets.

Michigan’s regulated sportsbooks will be permitted to offer win and place odds on horses in a change from the established parimutuel setup.

Fixed-odds betting on horse racing has been available for decades in other countries, most notably the U.K. However, this is the first time a state has offered fixed-odds wagering in this way. There is no direct challenge to Michigan’s racebooks, all of which have now closed.

MGCB: ‘Bettors Want Locked-In Odds Experience’

MGCB Executive Director Henry Williams said that a desire from gamblers to see “straightforward, locked-in odds” was behind the move.

Adding fixed-odds to approved betting models, he added, lets the MGCB continue its support for a “well-regulated horse racing market” in the state.

Michigan legalized parimutuel betting under the 1995 Horse Racing Law. Legalized online sports betting came much later when the Lawful Sports Betting Act of 2019 was passed.

Fixed-Odds Race Betting in Michigan

• Launched Oct. 30
• Only permitted at regulated online sportsbooks in MI
• Michigan has 13 online sportsbooks, run either in partnership with tribes or commercial casinos

ADW Down, Fixed-Odds Back

In many states, betting on horse races online is restricted to Advance Deposit Wagering (ADW) sites that operate outside state laws.

ADW sites like TwinSpires accept parimutuel bets made online, regardless of where you’re located. You can place wagers on races taking place across the U.S. and overseas tracks and claim bonuses in the same way you do at an online sportsbook.

In protecting its online sports betting regulations, Michigan effectively shut down ADW sites in 2025 when it suspended TwinSpires.

Under the 1995 Horse Racing Law, ADW wagering in Michigan must be tied to a licensed track. However, Michigan no longer has any live horse racing tracks in operation.

Pari-Mutuel vs Fixed Odds Explained

Fixed-odds betting on horse racing works much like gambling on an NFL game or Super Bowl winner. You place a bet against the sportsbook, and your odds are locked in once the wager is made. The payout is known upfront, depending on the odds at time of betting, plus your stake.

Pari-mutuel betting has a pooled prize pot that is shared among all bettors. The odds are fluid and change as more bets are added. The final payout is therefore unknown until the race begins.

Michigan Online Sportsbooks Slow to Respond

Despite the relaxation in state gambling laws, Michigan sportsbooks have been sluggish in taking up fixed-odds horse race betting.

A glance at BetMGM, bet365, and DraftKings in Michigan showed no horse racing markets available to bet on.

currently operates an online racebook, complete with exclusive TV streams and commentary and racing-specific bonuses. Caesars operates a standalone app for horse racing in several states, Michigan included.

Michigan Continues to Enjoy Betting Boost

Michigan’s sports betting industry continued its upward trend in the latest round of revenue reports. The MGCB reported $56.3 million in gross sports betting revenue for last month, a 26.9% jump year-over-year.

Overall handle was up Y-o-Y (+3.6%) to $557.2 million, as was win rate – 10.1%, or an increase of 1.85% for the same period last year.

bet365 is performing well since its spring launch, with a 15.5% hold. The U.K. sportsbook had a long reputation as one of the top online sportsbooks for horse racing. The relaxing of rules in Michigan should see bet365 perfectly placed to replicate its model in the U.S.