Michigan: Regulators add fixed-odds horse racing to online sports betting options

The Michigan Gaming Control Board (MGCB) Friday announced that fixed-odds wagering on horse racing will be added to the state’s online sports betting catalog, giving bettors a new way to wager on races. Under the change, licensed online sports betting operators will be permitted to offer fixed-odds wagers on horse racing — bets in which the payout odds are locked in at the time the wager is placed, similar to how odds work in traditional sports betting.