Breeding & Racing Magazine

Betfair Plans Worldwide Exchange Including US

Betfair "wants to establish a worldwide betting exchange that includes the US, but will focus its US efforts for now on strengthening its newest acquisition, the TVG horse racing network," reported bloodhorse.com. Betfair's managing director sporting affairs Greg Nichols "confirmed the company's goal of including the US in a worldwide betting exchange" at a meeting of the Oregon Racing Commission (which regulates several large US advance deposit wagering entities, including TVG which Betfair acquired for US$50 million in January). Nichols (previously chief executive of the British Horseracing Board & general manager of Racing Victoria) told The Blood-Horse magazine: "It is our ultimate objective that we would like to see the betting exchange as an opportunity worldwide, not just in the US where our initial foray is limited to pari-mutuel. We have been aggressive in trying to strike up relationships with various racing jurisdictions to bet pari-mutuel & betting exchange." Nichols said Betfair "has no timetable for including the US in its current betting exchange umbrella" & emphasised: "It's something that will evolve. Obviously, it is predicated on an alignment of the stars for that to happen." (To read the full report, click on the link in The Great Debate box on the right-hand side of this page.)