TVG, the largest legal online gaming platform in the United States, launched the first native horseracing wagering application for iOS devices, following suit to the sharp increase in mobile gambling.

The launch preceded this past weekend’s Belmont Stakes, a major horse racing event. The app offers betting to over 150 racetracks worldwide, live video feeds and account management for deposits and withdrawals.

“The vast majority of the betters who put money on horse races do not attend live events; a mobile app helps us reach a wider audience base who is already interested in participating from a distance,” said Guillaume Lelait, vice president of North America at Fetch.

“This being said, mobile betting apps are unlikely to replace live sports action for those fans who are already dedicated to attending them. Rather, they offer an opportunity to reach customers who wouldn’t usually consider attending a live event.”

Mr. Lelait is not affiliated with TVG and commented based on his expertise on the subject.

Need for speed
Participating in events creates costs beyond those involved in the actual gambling, like travel expenses or entrance fees. Apps eliminate those costs and inconveniences, and offer almost instantaneous payout on successful bets. App users can place their bets through a wider range of markets and receive the results immediately.

A self-proclaimed ground-breaking step in horseracing wagering, the app answers to the significant growth factor in mobile wagering and the industry, as America’s largest wagering platform is now available to fans on-the-go.

Also in attempt to make the sport more accessible, the functionality of the system improves upon mobile site access, with users enabled to view videos while making bets.

The first native app of its kind, TVG speaks to the demand for conveniencey, mobility, and instant outcome.

Betting on mobile
The online and mobile betting segment is increasing and enhanced by the wide adoption of handheld devices. According to a new report from Hamburg-based secondary research organization yStats, mobile gambling is expected to pounce into the double-digits by 2018, and engage more than 40 percent of the global digital gambling market.

It is easy to see the potential for betting apps in the U.S. when considering their success in Britain, where mobile apps set the standard for sports betting.

William Hill, for example, has seen its Sportsbook app downloaded over 1 million times according to Fetch.

Casino apps featuring table games and slots are also very popular.

Real money mobile slots apps are becoming increasingly prevalent.  Sports betting apps have the opportunity to cross sell to the high value customers currently using those platforms.

“An app allows marketers and brands themselves to cast a much wider net in terms of attracting new and engaging existing racing fans by selling a convenient and easy to use betting solution,” said Mr. Lelait.

“Apps also provide an excellent opportunity for re-engagement. Where regular event attending betters simply walk away at the end of the night, app users can be tapped again in the future with special offers and promotions to drive conversion.”

Final Take:
Michelle is editorial assistant on Mobile Commerce Daily, New York