Turkey’s Horse Racing Betting Model Faces Early Scrutiny

Seven months into a 10-year contract, Turkey’s new horse racing betting operator is already facing questions over agent commissions, ownership ties and the transparency of the deal that put it in charge.

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United Racing Şans Oyunları took over the pari-mutuel betting system linked to Türkiye Jokey Kulübü (TJK) at the start of 2026. The arrangement was backed by the Türkiye Wealth Fund (TVF), which retains control of the statutory rights surrounding Turkish racing.

The change was meant to give the betting side of the business a more commercial structure. Instead, some of the first disputes have focused on how existing participants are being paid.

Agents Hit by Commission Cuts

Reports in Cumhuriyet have put the sharpest criticism on betting agents operating under the Sanal Bayiler concessions network.

According to those reports, commissions for agents handling Turkish racing bets through retail and online channels were reduced from 4.5% to 2.5%. Retail outlets selling TJK betting coupons also saw their commission fall, from 6% to 5%.

Agents questioned the decision and the lack of prior negotiation. For businesses already operating within the racing betting network, the reductions changed the economics of selling the same product.

United Racing operates more than 2,000 physical agents. Its role is not limited to running the existing betting pool. Under the agreement with TJK, the operator is also expected to increase the economic value generated by racing during the 10-year term.

That puts the commission dispute in a wider context. Cutting costs for the operator may improve its margins, but it does not by itself demonstrate that the new structure is creating additional value for the racing market.

Ownership Questions Add Pressure

The other issue is less visible to bettors but potentially more consequential: who ultimately sits behind the new operator.

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Media reports have examined links between United Racing and other companies, including Spine Şans Oyunları and Four Leaves Şans Oyunları. Those reports have also pointed to interests associated with the Demirören family.

The issue has attracted attention because the family already has interests in major parts of Turkey’s state-controlled gambling sector, including Milli Piyango and sports betting through İddaa/Bahis.

That does not establish wrongdoing. It does raise a question about concentration in a market where several major gambling activities are already connected to a relatively small group of commercial interests.

The parliamentary response has been more direct.

Ankara MP Selçuk Özdağ submitted questions concerning the award of the contract and the parties involved. Among the details he sought was an explanation of how United Racing was selected, whether competition concerns were considered and how the company’s ownership should be understood.

One detail has drawn particular attention. United Racing was reportedly incorporated on November 20, 2025, with TRY1 million in capital. It then took over the betting operation at the beginning of 2026.

The timing has become part of the parliamentary scrutiny.

Turkey has not sold off horse racing itself. TJK has been responsible for the sport since 1950, while TVF assumed majority ownership rights in 2019 as part of a broader effort to improve the sector’s financial performance. The new arrangement separates the betting operation from TJK while leaving the state with control over the underlying statutory rights.

For now, the central test is whether United Racing can expand the value of the racing betting market rather than simply move money around an established system. Seven months into a decade-long contract, that question is still open.

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Source: igamingexpress.com