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BETFAIR SET TO MAKE A KILLING IN U.S. ONLINE GAMBLING

Betfair was the subject of a glowing article in the publication Venture Beat this week which looked at the UK betting exchange's astute move into American horse racing.
 
The move legally exploits the "carve-outs" in the often confusing US political deal-making process and discriminatory federal laws that permit online betting in horse racing.
 
Betfair is strongly positioned in the sector following its acquisition of the Los Angeles-based American TV Games Network (TVG), an online horse race betting company with its own TV channel, for $50 million in January 2009 .
 
Though it operates in only 16 states, the ten-year-old TVG operates the largest legal online gambling web site in the U.S., says Tony McAlister, chief technology officer of Betfair. And its horse racing channel reaches a massive 72 million households.
 
The Venture Beat article reveals that Betfair is now preparing to launch a social network around the TVG web site to stoke interest in betting on the sport.
 
It is also building applications to let people bet on horse races from sports bars via their mobile phones. To do this, Betfair will have to add about 50 people to its U.S. staff, currently around 170, and another 150 elsewhere. In the United Kingdom, the company has 1 400 employees.
 
Gerard Cunningham, president of Betfair USA, told Venture Beat that TVG’s web site is currently a Web 1.0 experience. But three weeks ago the company launched Ultimate Track Streaming, a media player on the site that can stream high quality videos of live horse races to viewers. It has also set up blogs for gamblers and a Twitter feed.
 
Future plans include the addition of live chat so that gamblers can discuss a race as its happening, says Cunningham That should be popular, since gamblers can bet on a race as it progresses.
 
TVG has apparently stayed out of 34 states because of unclear state gambling laws or strict prohibitions. It has rivals who aren’t quite as cautious, but Betfair is larger than competitors such as Youbet, Xpress Bet and Twin Spires.
 
Venture Beat opines that one possible hurdle Betfair faces is how to re-energise interest in horse racing, which has seen declining enthusiasm among gamblers. The rewards for success are considerable, the article notes - physical horse racing wagering levels are around $14 billion in the United States, of which TVG is currently handling around $500 million, leaving plenty of room for online expansion.
 
Betfair appears to have recognised this, and believes that, properly marketed, both online and terrestrial wagering could achieve substantially higher levels.  The company is also hopeful that individual states looking for additional tax revenues and competing with other states may make them more amenable to extended horse race gambling.
 
Cunningham said that these factors all point to good growth prospects ahead, even if only the status quo in maintained.
 
"By and large, Betfair draws more gamblers because it can more efficiently set favourable odds than bookies, who build their own commission into the odds," Venture Beat concludes. "Its servers match about 1 000 bets a second, which means it’s about as busy as a stock exchange. The privately held company has six data centers to support the traffic. In the year ended April, 2008, it reported earnings of $69.5 million on revenue of $396 million. (It is not required to disclose earnings but does so).



Gambling News :

Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

New MPN Poker Rooms Tower Torneos - Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<

NY Rangers vs. Devils on 12/21 - When the Devils and Rangers hit the ice on Thursday (7 PM ET on MSG), so too will two of the league’s top netminders. After a slow start to the season, Henrik Lundqvist has returned to his form of old. Through 29 games, he’s posted a 2.59 goals against average, and a .920 save percentage.

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