Betfair Aims For California Online Gambling

British online gambling giant Betfair has set its sights on the Californian horseracing industry after the state passed a law in September that allows betting on races via the internet.

Betfair, which just last week won the eGaming Review award for best innovation, has already opened an office in San Francisco in anticipation of the law's implementation, due to take effect in May 2012.

The San Francisco office will likely quadruple its workforce next year to around 100, the company's global director of racing Stephen Burn was quoted saying by Bloomberg.

California Governor Arnold Schwarzenegger backed the horse racing bill as part of legislative efforts to help revive the state's horse racing industry, which has such a long and famous tradition.

At present Californians can only wager with pool betting, in the total money wagered is divided up between all the winners, working along the same ways as a stock exchange.

Betfair says it is in prime position to work with California law because it already has an online horseracing exchange and can work in tandem with state regulatory bodies to ensure betting is carried out lawfully.

California could be the second state to introduce legalized online gambling, after the New Jersey senate recently approved a bill that would allow state residents and foreigners to bet online via serves located in Atlantic City casinos.