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BETTING EXCHANGES IN THE U.S.A.?

Friday, December 2,2011 :  Betfair's TVG subsidiary could be in the pound seats when new Californian law comes into force
 
Exchange betting isn't yet authorised in California, but a law passed last year will make it legal starting in May 2012, and the British online gambling group Betfair, which pioneered the concept, will be strongly positioned to exploit the new business opportunity through its US subsidiary TVG.
 
Plans are already afoot at Betfair to open betting exchange operations in May, working through a 75 personnel-strong technical hub that the firm has already set up in San Francisco .
 
Reporting on developments, the San Francisco Chronicle emphasises that when it comes to horse racing, online betting is legal and already well-established through companies like TVG, which Betfair acquired in 2009.
 
The newspaper speculates that the advent of betting exchange action could not only transform betting on the ponies, but could also save the declining fortunes of U.S. racetracks.
 
Stephen Burn, the head of the Betfair office in San Francisco, told the newspaper that the betting exchange business model enables racing fans to bet against each other, and additionally allows them to bet in ways they can't with traditional wagering.
 
"You can keep betting in the middle of a race," said Burn. "Betting can continue until the results are posted, so if there's a photo finish, you can keep betting until a result is announced."
 
The Chronicle reports that Betfair is working with the California Horse Racing Board as well as with race tracks to strike deals that will enable the betting company to earn a profit while offering the tracks a substantial cut, giving the troubled racing industry new revenues.
 
Betfair has proposed a 10 percent commission on racing wagers, with two-thirds of that going to the track. So if a punter bets $30 and wins, the commission would be $3. Betfair would get $1, and the track where the race is held would get $2.
 
"From our perspective, unless there's a healthy horse racing industry ... no matter how great our betting product is, people won't want to bet on it," Burn said. "You have to have a viable, sustainable horse racing industry."



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US$30M DUBAI WORLD CUP - Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines

NHL Odds: Forsberg Faces Elliott in Nashville - The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.

Sit & Go 2.0 launched online exclusively at Americas Cardroom - Get ready to cheer like a champion before the first flop is even dealt. The much-anticipated Sit & Go 2.0 is now launched online exclusively at Americas Cardroom and Sit & Go players are reaping the benefits of the next evolution of poker.

NBA Odds: Hawks, Wiz in Southeast Showdown - The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.

Mega Moolah progressive jackpot Hit Again - Microgaming’s Mega Moolah progressive jackpot slot has been hit yet again at just over €6.6 million!

NBA Odds: Clippers Try to Slow Down Bucks in LA - Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.

NCAAB Odds: SMU Hosts Tulsa With AAC Title on the Line - There aren’t too many college basketball teams more profitable than the SMU Mustangs (25-4 SU, 18-5-1 ATS). They host the Tulsa Golden Hurricane (14-14 SU, 15-12 ATS) this Thursday night, tipping off at 8 PM ET on CBSSN.

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

NHL Odds: Reeling Flyers Seek Relief in Pittsburgh - #nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.

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