Monday July 22,2013 : CHRB GRANTS WATCH AND WAGER APPROVAL
Breaks into California market
Webis PLC subsidiary WatchandWager has received approval for a multi-jurisdictional Advanced Deposit Wagering (ADW) licence from the California Horse Racing Board (CHRB).
The WatchandWager platform becomes the first ADW to be granted an operational licence in California by the CHRB in over five years and will be the fourth operator permitted to legally take bets from Californian residents.
The licence currently covers standardbred racing, however, WatchandWager is reportedly negotiating to extend the licence to cover thoroughbred and quarter horse racing.
By statute, licenced wagering on the platform can commence on September, 6, 2013 – 90 days from the formal application date.
Ed Comins, Pari-Mutuel Operations Director at Webis, said: "WatchandWager will have access to a population of more than 38 million people and one of the strongest economies in the world. This licence approval also represents another significant step forward in our overall US development strategy and is evidence of the status we now have as a business to be accepted by regulatory bodies as prestigious as the CHRB. WatchandWager has established itself as a substantial US licenced operator, with a firm foothold in the US gaming market, with opportunity for upwards leverage on both a federal and state basis.”