Betfair, Breeders’ Cup reach deal on wagering revenue

[Imriledup]

Betfair customers will get live video stream, i guess that means if you are an American you will NOT get live stream, you'll just have to watch network coverage?

BC blocks anyone from watching live on the net because they want you to watch tv commercials. So, betfair customers get this and american's do not?

[Gone2Golf]

According to the Breeders Cup you can watch the video stream directly on their website.

[PaceAdvantage]

Originally Posted by nearco

So the BC will also get a cut of the exchange bets placed on Betfair?

Wouldn't it be illegal for them to do so? If exchange betting is illegal here in the states, how can the BC legally accept a cut of the exchange bets placed on Betfair?

Something tells me they can't. Thus, there must be some confusion going on in this thread (quite possibly, it could be me who is confused).

[Horseplayersbet.com]

Originally Posted by PaceAdvantage

Wouldn't it be illegal for them to do so? If exchange betting is illegal here in the states, how can the BC legally accept a cut of the exchange bets placed on Betfair?

Something tells me they can't. Thus, there must be some confusion going on in this thread (quite possibly, it could be me who is confused).

I thought Betfair did offer cuts to some of the tracks they take. They probably pay them this for the use of the video. Lawyers can get around anything.

I think California has been receiving a cut from them for a little while now, or at least that was proposed to have happened around a year ago.

[andymays]

British punters gain new 'gateway' to Breeders' Cup betting pools

• UK exchange strikes deal offering American 'exotic' bets
• Deal extends Betfair's presence in USA's gambling market

http://www.guardian.co.uk/sport/2009...g-breeders-cup

Excerpt:

The heavy deductions from the win and place pools in the American PMU – its equivalent of the Tote in Britain – mean that these are unlikely to appeal to many Betfair punters, who are used to betting into markets with no more than a two per cent over-round.

The "exotic" pools, by contrast, could prove very popular. The Pick6, which asks backers to find the last six winners on the card, always attracts a multi-million dollar pool, while others bets such as the Trifecta (on the first three home in a race) and Pick3 – to predict the winners of any three consecutive races – can also generate big payouts for a relatively small stake.

Announcing the deal in London today, Greg Avioli, the president and chief execitive of the Breeders' Cup, said that it was "a gateway to the future".
"It is our belief that the future of horse racing is international common-pooling," Avioli said. "More than $100bn is wagered on racing around the world each year, but less than $20bn is bet through countries that common-pool.

[DanG]

Originally Posted by DeanT

In Australia when they allowed BF into the pools parimutuelly there was a 30% handle jump in pari-mutuel as customers took advantage of cross platform betting. I would doubt that this would result in anywhere near that, but for certain some punters will take a shot at the pick 4 and pick 6 monster pools. There are billions of dollars in the float balance, so that money is now in play.

Your right Dean with the time zone issue being a very tough obstacle to overcome.

[nearco]

The time zone really isn't an issue for European bettors, where most Betfair customers would be. The afternoon BC schedule makes for an Sat evening/night schedule on the right side of the pond. Perfect for a lot of people.

[gm10]

Originally Posted by PaceAdvantage

Wouldn't it be illegal for them to do so? If exchange betting is illegal here in the states, how can the BC legally accept a cut of the exchange bets placed on Betfair?

Something tells me they can't. Thus, there must be some confusion going on in this thread (quite possibly, it could be me who is confused).

I don't think there's a problem here.
Betfair are both an advanced wagering and a betting exchange as far as US racing is concerned. Legally, BC are probably just selling the video to the advanced wagering part of Betfair, while total revenue from it will be based on both.

Nobody is organizing any exchange betting inside the US, nobody is giving American customers access to exchange betting.
But it does show that the American position in exchange betting is slightly weird and probably untenable.