TVG Online Horse Race Wagering in California Decision Differed

Published Sunday, June 03, 2012 -

The Thoroughbred Owners of California have decided to differ the vote until next year on whether to allow Betfair’s US subsidiary TVG to offer exchange wagering on California horse races.

Based in London, England and registered and licensed by the regulator in Gibraltar, Betfair is the largest betting exchange in the world today. TVG was acquired by Betfair in January of 2009. TVG is one of the largest legal online wagering businesses in the US and owns the TVG racing channel which is shown in approximately 35 million US homes. TVG customers can bet through an interactive horseracing network that combines live televised coverage from over 100 of America’s premier tracks with the convenience of wagering (for certain US residents only) from home online, by phone, with a web-enabled mobile phone and, where available, set-top remote control.

The Thoroughbred Owners of California issued a statement regarding the concerns the board has about the ability of exchange bettors to wager on a horse to lose a race and how it would subject certain parties in the horse racing industry, trainers, in particular, to undeserved and unwanted public scrutiny. Two years ago California lawmakers made exchange wagering legal but recently the racing venues of California, trainers and owners are still not sold on the idea. The California Horse Racing Board has a debate on the process of rule creation on their agenda.

TVG’s parent firm Betfair is not happy with the delay in approvals for the new style of wagering. Betfair has the goal to develop significant market share in the USA. The betting exchange allows punters to bet at odds set and requested by other gamblers rather than by a bookmaker. TVG has been offering horse race betting over the internet since 1993. TVG uses the latest technology to safeguard personal information and offer secure betting to its customers.

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