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What is Dragon & Tiger?
If Bernstein’s $10 trillion prediction market turnover forecast is realized or exceeded, it’d likely prove significant in revenue terms because the research firm previously estimated that $1 trillion in yearly activity could generate as much as $10.8 billion in revenue for operators.
As has been widely documented, sports event contracts are currently the lifeblood of the prediction market industry, but Bernstein notes that won’t be the case on a permanent basis. In fact, the research firm estimates that sports derivatives’ share of industry volume will decline to 35% in 2035, indicating that the aforementioned volume increase will be led by other categories.
The research firm estimates that by 2035, financial derivatives, including event contracts linked to commodities, cryptocurrencies and stocks, will account for 49% of turnover on yes/no exchanges, topping sports to become the largest volume driver. The research firm sees event contracts tied to key performance indicators (KPIs) leading the charge.
What is Dragon & Tiger?
A sold-out crowd of 6,000 attended the first day of racing at the rebuilt Long Island track, wagering almost $14 million on a nine-race card headlined by the $1 million Jockey Club Gold Cup.
Japanese star Forever Young won the feature race, while all-sources wagering for the day totaled $13,997,422, according to BloodHorse.
The new Belmont is part of a major restructuring of the New York Racing Association’s operations, with Belmont replacing Aqueduct as the year-round home of downstate thoroughbred racing.
