New Jersey Sports and Exposition Authority officials are preparing a request for proposals for parties interested in purchasing Monmouth Park.
A compromise has apparently been reached that would forestall the implementation of exchange betting until at least 2012, according to the Pasadena Star-News.
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.
- By Tom LaMarra
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.
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.
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.
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.
Betfair, the rapidly growing exchange-wagering provider based in Great Britain, believes it could provide up to $50 million in new revenue for itself, racetracks, and horsemen by 2008 should it be permitted to operate in the United States.
A principal in a company that develops software for betting-exchange wagering said North America has the structure in place to make it benefit the horse racing industry.
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