The Breeders’ Cup and Betfair Group Ltd. announced Oct. 22 they have reached an agreement permitting common-pool wagering on this year’s World Championships Nov. 6-7 during the Oak Tree at Santa Anita Park meet.
It will mark the first time wagers placed by the more than 2.5 million Betfair customers worldwide will be commingled into Breeders’ Cup pools.Breeders’ Cup will receive “agreed revenues from Betfair’s tote and exchange betting on the Championships,” according to a release.
The percentage of revenue wasn't made public.
Betfair is a licensed betting operator in Great Britain and holds licenses in the United States, Australia, Germany, Austria, Italy, and Malta. It is the parent company of the TVG racing network.
“Our agreement with Betfair is an important milestone in our ongoing effort to grow the international simulcast wagering market for the Breeders’ Cup World Championships,” Breeders’ Cup president and chief executive officer Greg Avioli said in a statement. “As more and more international horses participate in our championships, interest levels and wagering handle from around the world continue to increase, allowing us to maintain the highest possible purse levels for the event.”
In addition to the commingled wagering pools, Betfair will offer live online video streaming of the Breeders’ Cup races to customers. The agreement also provides Betfair, which sponsors the Breeders’ Cup Mile (gr. IT), with use of Breeders’ Cup marks and advertising.
“Our partnership with the Breeders’ Cup is the beginning of what we intend to be a mutually beneficial partnership with U.S. racing,” said Stephen Burn, director of horse racing for Betfair.
International handle bet directly into Breeders’ Cup pools on the 2008 World Championships was $17.6 million, up 16% from 2007 and 34% from 2006.