Bookies Gamble On Making Odds Decimal - Thursday 29th of April 2010

British gamblers are making history today when bookies use decimal odds at a racecourse for the first time.

Until now bookmakers have always priced up horses using fractions but a campaign aimed at getting more young people interested in the sport claims their methods are "outmoded and unfamiliar".

Racing for Change says that using decimals will give customers better value by improving competition and offering a wider range of prices.

"We need to attract a younger audience and to do that we need to overhaul betting language that is alien to anybody who went to school since the UK went decimal in 1971," said Chris McFadden, chairman of Racing for Change.

Punters at Ascot racecourse today are able to use the new betting system, which could spell the end for much-loved racing phrases like Burlington Bertie (100-30) and Double Carpet (33-1).

"There are some dinosaurs in racing who wont want this, but well give the gambling public whatever they want," bookmaker Paddy Power told Sky News Online.

Under the new system - widely used already in Australia - odds like 9-4 would be priced up as 2.25.

Other news from around the same time

£1m poker face - Monday 21st of January 2013

A BRITISH model who has a degree in astrophysics has won £1.1MILLION in a poker tournament.Liv Boere....


Rank gets casinos, online sales boost - Monday 21st of January 2013

British bingo hall and casino operator Rank Group (RNK.L) said strong sales at its Grosvenor Casino....


MGM Mirage to Become MGM Resorts International - Monday 21st of January 2013

Las Vegas casino company MGM Mirage plans to change its corporate name to MGM Resorts International,....


Hard Rock Hotel & Casino and Morgans Hotel Group Open Acclaimed SKYBAR - Monday 21st of January 2013

Hard Rock Hotel & Casino and Morgans Hotel Group elevate the Las Vegas pool scene with the opening o....


Governor to Veto Gambling Bill - Monday 21st of January 2013

Gov. John Lynch said Friday that he would veto a bill to legalize video slots in New Hampshire if i....


Mohegan Sun Gets Casino Boost In Bay State - Monday 21st of January 2013

The Mohegan Suns prospects for opening a casino in Massachusetts improved this week as chief rival F....


No jackpot for online gambling firms in France - Monday 21st of January 2013

Online gambling sites will not rake in easy winnings from the newly legalised French market, with hi....


Bournemouth casino plan "will go ahead" - Monday 21st of January 2013

THE developer behind controversial plans for a casino and restaurant complex in Bournemouth has insi....


Video Gambling in Bars Holds Promise of Handsome Revenues - Monday 21st of January 2013

On Chicago’s gritty far southeast corner, which in the past few decades has seen factories rust and ....


Sands plans Four Seasons sale - Monday 21st of January 2013

Las Vegas Sands is gearing up to launch the sale of the Four Seasons apartment hotel tower in a coop....