Breeders Cup Horseracing on BetfairPublished October 28, 2009 by OCR Editor
Breeders Cup chief calls common-pooling the gateway to the future.
British online bookmaker Betfair has announced the signing of a huge deal that will allow its more than 2.5 million customers to be included in the pool for next month's Breeders' Cup in the US state of Kentucky, the Associated Press reported.
The Breeders' Cup will receive an undisclosed percentage of the revenue from bets placed by Betfair customers under the deal, which marks a significant move by Betfair into the US market.
Betfair will also stream the races, being held on November 6 and 7, on to its website.
Just over $17 million was bet from abroad into US pools during last year's Breeders' Cup, but this will no doubt rise significantly following the Betfair deal.
While the deal probably won't affect the amount of win and place bets put on the race, it is expected to increase interest in bets such as trifectas, which generate big payouts depending on the size of the pool.
The president of the Breeders' Cup, Greg Avioli, said at the announcement in London that such deals were the "gateway to the future."
"It is our belief that the future of horse racing is international common-pooling," he said. "More than $100 billion is wagered on racing around the world each year, but less than $20 billion is bet through countries that common-pool."
Avioli added that interest levels would increase in line with the increase in participation at the Breeders' Cup by foreign horses, and would in turn allow the Cup to continue offering big prize money for its races.