Betfair's TVG Network has secured a multi-year extension to its agreement with the New York Racing Association (NYRA)  to broadcast and accept bets on live horse races at NYRA's Aqueduct Racetrack, Belmont Park and Saratoga Racecourse.

The new agreement will see TVG increase the exposure for high definition telecasts from the premier New York thoroughbred races on its nationally distributed network, alongside a new series of features with NYRA's on-track television hosts and significantly increased on-site productions at Belmont Park and Saratoga Racecourse.

The company will also expand its sponsorship activities to include the TVG Diana from Saratoga Racecourse and the Super Saturday card.

Commenting on the agreement, Betfair US and TVG chief executive Kip Levin said: "Both The New York Racing Association and TVG have made significant investments in High Definition television capabilities over the past year and this agreement allows us both to provide the highest quality coverage to the greatest number of people possible on a daily basis."

NYRA chief executive Christopher Kay added: "Today's announcement is yet another positive step forward for The New York Racing Association; one that will further enhance the experience for the world's greatest fans following thoroughbred action on television, online or at one of our three historic, world-class racing facilities. The extension of our agreement with TVG will provide featured, long-term placement through the broadest, most technologically advanced distribution network available. This is a win for everyone."

Shares in Betfair Group plc (Co. Data) (LSE:BET) climbed as high as 1046.00 pence per share in London early Tuesday morning before falling back to 1035.00 pence per share by 09:05 BST, up 0.49 per cent on the previous close.

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