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Forget horses, there’s a new type of race where you can place your bets. I’m Brian Banmiller on business.

Draft-kings is partnering with the drone racing league and accepting bets on aerial drone races. The league president says the sky is now the limit for fans to get in on the action and drone racing is now the ultimate sport for betting. Right now, all races are virtual, taking place in a simulation where real-life drone physics are incorporated. But in pre-pandemic times, live drone racing venues included the hard rock stadium in Miami gardens and an auto-museum in Munich. Draft-kings says there is a market for this, with more than one hundred and fifty thousand entries into contests so far. Like most major sports, gamblers can make bets before the races as well as during them. Research found that drone racing fans are three times more likely to place a bet than major league sports fans so the market for this is expected to grow. Right now, it’s legal in Colorado, New Hampshire, New Jersey, Tennessee, and West Virginia but expected to take off in more states. Brian Banmiller, CBS news.

About Brian

CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.