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.