HKJC starting fixed odds betting via Betfair

[Seabiscuit@AR]

It was recently reported that Hong Kong tote turnover fell late last season. Looks like the HKJC has decided that the rebated tote model no longer has any growth left in it so they have decided to licence fixed odds exchange betting via Betfair

When Betfair first appeared HKJC were dead against the concept of a betting exchange so this is a big turn around from them

https://www.racing.com/news/2019-08-...ng-kong-racing

[steveb]

Originally Posted by Seabiscuit@AR

It was recently reported that Hong Kong tote turnover fell late last season. Looks like the HKJC has decided that the rebated tote model no longer has any growth left in it so they have decided to licence fixed odds exchange betting via Betfair

When Betfair first appeared HKJC were dead against the concept of a betting exchange so this is a big turn around from them

https://www.racing.com/news/2019-08-...ng-kong-racing

it's not approved by the hkjc.


https://www.scmp.com/sport/racing/ar...-club-approval

[classhandicapper]

I'm sure it's difficult to make all the numbers work for everyone, but if exchange wagering would become more available in the US it would solve a LOT of problems for bettors. I played at E-Horse Exchange for awhile and it was one of the better periods of my gambling life. I was playing with a much lower fee than could probably be available anywhere now, but the advantages were obvious and significant.

[Seabiscuit@AR]

well that is a surprise as Betfair offered HK years ago but stopped and their stance has always been to wait till they get official approval. So I assumed they had official approval

Without official approval from the HKJC there won't be enough liquidity as there will be no bettors from HK. It will go the way of Betfair's Singapore markets where there is no liquidity as the locals will use Citibet if they want to bet with an exchange

[Tom]

Not get off topic, but what is the outlook for racing in HK these days? Is is relatively safe, or would it likely be outlawed with a tighter control by China?

Not sure what the impact is on shippers there but I would think it might not be the ideal time to be planning to ship in.

Just curious, not making any judgments.

[steveb]

Originally Posted by Seabiscuit@AR

well that is a surprise as Betfair offered HK years ago but stopped and their stance has always been to wait till they get official approval. So I assumed they had official approval

Without official approval from the HKJC there won't be enough liquidity as there will be no bettors from HK. It will go the way of Betfair's Singapore markets where there is no liquidity as the locals will use Citibet if they want to bet with an exchange

Like you, I at first thought it had been sanctioned by the HKJC.
It puts a different light on it knowing it is without approval.

[Onesome]

"“It is disappointing that a listed company does not respect our intellectual property rights.”"

Funny quote coming from a Chinese company.

[cutchemist42]

As a Canadian I miss having Betfair access. I ront have records from back then but I probably did better back then than I do on parimutuel.