Betfair Signs New York Horse Racing Deal
3rd November 2009 9:48 am GMT
Continuing to expand its international horse racing offering, Betfair has signed an agreement with the New York Racing Association (NYRA), which will provide Betfair customers worldwide with access to common-pool pari-mutuel wagering on a number of U.S. horse races.
Through the Betfair website, customers will now have access to pari-mutuel pools at leading New York racecourses including the Aqueduct racetrack, Belmont Park, and Saratoga Race Course.
"This agreement is a very important step in growing the industry's international simulcast market," said NYRA President and CEO Charles Hayward. "We are thrilled to offer the best year-round racing in the United States to the world's leading online wagering company. Betfair is a cutting-edge organization and we look forward to an expansive relationship with them."
Betfair and the NYRA already have a strong relationship via Betfair's $50 million acquisition of U.S-based TVG, the largest legal wagering business in the U.S, which broadcasted live this year from Saratoga and Belmont Park.
"Following the acquisition of TVG in January, Betfair has been looking to enhance its US racing product offering," said Betfair's Head of Horse Racing Development, Steven Johnson. "We have entered into agreements with a number of US racetracks, and introduced US Tote betting onto our site last month.
"We are delighted to link up with NYRA, bringing new overseas money into their pools via our worldwide customer base of over 2.5m, and crucially giving a new revenue stream to their racetracks €“ while, of course, delivering further US betting opportunities to our customers."
The agreement reached by the companies allows Betfair's customers to start wagering immediately on live racing at Aqueduct, which recently began its 39-day Aqueduct Fall Meet, running until Thursday December 31st with live racing Wednesdays through Sundays.
The highlight of the meet is on Saturday November 28th, featuring the Grade 1, $300,000 Hill €˜n' Dale Cigar Mile, one of the most prestigious mile races in the world.
