Handicapping tournaments are an important growth area for horse racing, say racetrack officials and horse players. One professional handicapper urges the industry not to stop here but to push forward with exchange wagering.
Patrick McGoey staged another improbable final-race comeback to win the Breeders' Cup Betting Challenge for a second straight year on Nov. 3 at Santa Anita Park.
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 representative of the most publicized betting exchange in the world indicated the company is actively seeking a partnership with the United States pari-mutuel industry.
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