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Betfair Has Hopes for U.S. Exchange Betting

29 Apr 2009

LONDON, England -- As reported by Bloodhorse: "Betfair wants to establish a worldwide betting exchange that includes the United States, but will focus its U.S. efforts for now on strengthening its newest acquisition, the TVG horse racing network, an official with the London-based wagering conglomerate said recently.

"Greg Nichols, managing director sporting affairs for Betfair, confirmed the company's goal of including the U.S. in a worldwide betting exchange, a platform viewed by some as controversial in that it allows bettors to directly wager with each other on a variety of outcomes – both winning and losing -- in sports, politics, and entertainment events such as the Oscars and reality television shows.

"Exchange betting is also allowed after some events have started, including on horse racing, as was demonstrated by Betfair officials at the March meeting of the California Horse Racing Board.

"...Nichols said Betfair has no timetable for including the U.S. in its current betting exchange umbrella..."

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