Nasdaq has decided to apply technology originating from financial markets to sports betting to make the systems run more smoothly, Axios writes. Nasdaq partnered with horse racing clubs, including the biggest racing club in Asia—Hong Kong Jockey Club. The bets made there amount to 50 per cent more the bets in the entire U.S. This business is so huge that its taxes equal 8 per cent of the Hong Kong government's revenue.
But the technology the Hong Kong Jockey Club used was dated. Upon the introduction of in-play betting, the old systems turned out to be too weak to support it.