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Betfair Rejects Bid by CVC Capital Partners

Multiple European financial news outlets are reporting private equity firm CVC Capital Partners has ended a $1.5-billion effort to purchase Betfair.

Private Equity Firm Eyes Betfair Takeover

Private equity firm CVC Capital Partners acknowledged Monday, April 15 that it is considering purchasing Betfair, the world's largest betting exchange.

Exchange Wagering Facing Delay in California

Implementation of exchange wagering in California will be delayed for several months after the state's Office of Administrative Law rejected provisions approved earlier this year by the California Horse Racing Board.

Handle Up, Revenue Flat at TVG

Improved handle failed to translate to increased revenue at advance-deposit wagering company TVG Network during the three-month period ending Jan. 31.

Britain Struggling with Declining Foal Crop

A foal crop that has declined 22% in five years is making it tough in Britain to maintain a strong racing product.

TVG Dismisses VP Allevato

Tony Allevato, one of the most senior members of the TVG management team, was dismissed Feb. 19, according to a source familiar with the company, as part of a restructuring plan.

CHRB Approves Exchange Wagering

The California Horse Racing Board Nov. 15 approved the wagering platform that allows players to buy and sell, "back" or "lay" wagers.

CHRB to Again Consider Exchange Wagering

The CHRB could give its final approval to exchange wagering rules Nov. 15 when it meets at 9:30 a.m. PST in the Sunset Room at Betfair Hollywood Park.

British Purses to Increase in 2013

The projections follow an Oct. 24 agreement in which the three largest bookmakers: William Hill, Ladbrokes, and Gala Coral, agreed to guarantee that their combined contribution will be at least $72.5 million.

Exchange Wagering Rules Approved by CHRB

Rules governing exchange wagering gained initial approval from the California Horse Racing Board at its meeting Sept. 20, more than a year after the commission had announced its intention to promulgate them.

British Racing, Betfair Sign Commercial Pact

The wagering firm Betfair and British Racing, comprised of the British Horseracing Authority, the Racecourse Association, and the Horsemen's Group, have signed a landmark five-year commercial agreement.

And They're Off: TheOtherMadness Edition

Lenny and Steve discuss the Rebel, the end of 'Luck', Betfair, and fatalities at Aqueduct. Sponsored by Darby Dan Farm.

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Betfair Buys Hollywood Park Naming Rights

The international exchange wagering company promises to upgrade the racetrack and woo younger fans through social media and innovative promotions.

TVG Betfair to Demonstrate Exchange-Bet Model

A test model of the first exchange wagering system proposed for the United States will be demonstrated at the University of Arizona Symposium on Racing & Gaming in Tucson beginning Dec. 6.

Total Handle on BC at Least $183 Million

Total pari-mutuel wagering on the Nov. 4-5 Breeders' Cup World Championships at Churchill Downs was at least $183 million, according to the latest figures released by Breeders' Cup.

Report: Betfair Customers Not Told of Theft

Betfair, the largest operator of exchange wagering in the world, admitted it did not inform its customers that details of millions of credit cards were stolen in a 2010 cyber attack, the UK Press Association reported.

Betfair CEO Announces Plans to Leave Company

Betfair chief executive officer David Yu said he will not seek to renew his contract with the exchange wagering company when it expires in October 2012.

Free Download: Growth of Exchange Wagering

Eclipse Award-winning writer Bill Finley looks at the growth of exchange wagering through the creation of the international gaming giant Betfair.

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Study is Positive on U.S. Exchange Betting

A study commissioned by the TVG network has concluded that "exchange wagering provides an important option to grow the audience and participation in the sport in the U.S."

Pacific Classic Highlights Del Mar Schedule

As it has for the past two seasons, Del Mar again will offer 42 stakes races over the course of a 37-day summer meet that runs from July 20 through Sept. 7.

RCI: Exchange Wagering Takes Center Stage

Exchange wagering was a hot topic during the annual conference of the Association of Racing Commissioners International in New Orleans, as the need for strong regulatory guidance and preventative action was stressed.

TVG Eliminates 20 Positions

TVG has eliminated 20 positions, including some of those held by on-air racing analysts, in what was termed a "streamlining" move by the company owner, British-based Betfair.

Plenty of Early Interest in Monmouth Lease

Eight entities have submitted bids to lease and operate Monmouth Park over a five-year period beginning June 1.

TVG Posts Record Breeders' Cup Wagering

Interest in super mare Zenyatta and this year's Breeders' Cup World Championships second day Nov. 6 propelled TVG to a record day, with more than $7.8 million in wagering.

Technology and the Racing Fan

People want convenience, low prices, and a game that is easy to learn and play; exchange wagering fits that description.

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Schwarzenegger Signs Calif. Takeout Increase

California legislation increasing the takeout rate for exotic wagers beginning this winter and making the state the first in the nation to approve exchange betting was signed by Gov. Arnold Schwarzenegger Sept. 23.

Betfair Going Public

The world's largest online sports wagering company announced Sept. 21 its plans to be listed on the London Stock Exchange.

Calif. OKs Exchange Wagering, Takeout Hike

California legislation that would redirect perhaps as much as $70 million from winning bets to purses and make the state the first in the nation to approve head-to-head wagering on horse races gained approval Aug. 31.

Compromise Reached on California Bill

A compromise has apparently been reached that would forestall the implementation of exchange betting until at least 2012, according to the Pasadena Star-News.

Changes in CA Bill Trigger Track Opposition

A bill that would not only increase takeout on exotic wagers in California but also introduce "exchange wagering" to the state has drawn opposition within the racing industry.

The Rise of Bet Takers in North America

Fred Pope discusses the rise of bet takers, which pull more money from purses than slots push in.

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California Racing Gets Some Encouragement

Struggling as it never has before, the California horse racing industry went to the State Capitol in Sacramento March 4 looking for some answers. And surprisingly, racing seemed to get a warm reception.

Betfair Wants to Expand U.S. Wagering

Betfair, operator of the Great Britain-based betting exchange and owner of TVG, wants to work with the United States pari-mutuel industry to expand wagering opportunities, a top official with the company said Dec. 8.

Horsemen Seek Involvement in Betfair Deals

Thoroughbred horsemen plan to meet with Betfair officials Dec. 7 to ensure they are party to contracts the Great Britain-based company is signing with United States racetracks for their content.

Breeders' Cup Handle $150 Million and Rising

Through Nov. 8, the all-sources handle for the recent Breeders' Cup World Championships exceeded $150.2 million. The total does not include an estimated $24.75 million in exchange wagering handled by Betfair.

Breeders' Cup, Betfair in Simulcast Accord

The Breeders' Cup and Betfair Group Limited announced Oct. 22 that they have reached an agreement permitting common-pool wagering on this year's championshp day races Nov. 6-7 during the Oak Tree at Santa Anita meet.

Status Quo, 'Welfare' Mentality Big Threats

If the horseracing industry fails to make voluntary changes it has resisted for decades, the only things that may save it from doom are involuntary changes brought on by forces in the gambling and entertainment marketplace, officials said Oct. 13.

New Developments on International Wagering

Scientific Games Racing, a division of Scientific Games Corporation, has announced that it has reached an agreement to provide Betfair Games Limited with services and technologies to allow all Betfair account holders to view race and pool data and wager into North American pari-mutuel tote pools, with approval of relevant regulatory authorities.

NYRA Joins Rachel Alexandra-Zenyatta Bidding

Online wagering companies TVG and Betfair have pledged an additional $400,000 to the New York Racing Association to invite Rachel Alexandra and Zenyatta to participate in the Beldame Stakes (gr. I) at Belmont Park Oct. 3.

ADW Content-Sharing Continues to Expand

TVG announced June 8 an agreement with TrackNet Media Group that allows its affiliated Web sites -- TwinSpires.com and XpressBet.com -- to accept online wagers on TVG-exclusive racetracks.

ADWs Grab Larger Share in First Quarter

Led by strong performances from Twinspires.com and Youbet.com, collective handle for the four largest domestic advance deposit wagering platforms increased by roughly 15% in the first quarter of the year, while their overall share of the national betting pie grew by more than 2%.

Betfair Has Hopes for U.S. Exchange Betting

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.

TVG to Pay Bettors Nixed by Signal Shut-Off

TVG said April 24 it will make good on winning wagers that were canceled due to a now-resolved dispute the horse racing network had with Hollywood Park.

Industry Awaits Betfair Plans for TVG

British-based Betfair Group, which announced Jan. 27 it had completed its acquisition of TV Games Network from Macrovision for $50 million in cash consideration, is hopeful its new holding helps it make inroads in the United States market, which it has courted for years.

Betfair Buys TVG for $50 Million

British-based Betfair Group Ltd. announced Jan. 27 that it had completed its acquisition of the TV Games Network from Macrovision for $50 million in cash consideration.

Betfair Signs Ascot Sponsorship Deal

Betfair annouced Dec. 3 it has worked out a five-year sponsorship deal with Royal Ascot.

Tattersalls Introducing Online Bidding

Tattersalls plans to start offering online bidding for all sales at its Park Paddocks site in Newmarket, England.

Betfair, U.S. Horsemen Continue Talks

Betfair, the Great Britain-based online betting exchange, continues to negotiate with officials in the United States and is inching closer to a deal by which it would compensate horsemen for use of their product.

Fallon Loses Appeal of 18-Month Ban

European top jockey Kieran Fallon, banned from racing for 18 months by the French racing authority, was denied his appeal of the sentence which was issued after a failed drugs test, the Racing Post reported Feb. 8.

Trial Begins for Fallon, Others in Alleged Fraud Case

Six-time British champion jockey Kieren Fallon, 42, and two other riders were involved in plot to cheat in 27 races, a court in London, England, was told Oct. 8.