BetFair: 10% commission in USA
The exchange wagering platform Betfair has said it plans to pursue a different financial model in the U.S. and so far, it seems to be making good on that promise
8th December 2011
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The exchange wagering platform Betfair has said it plans to pursue a different financial model in the U.S. and so far, it seems to be making good on that promise
Gambling has been delegated to the provinces and we have to deal with 9 different gambling boards, with 9 different standards and 9 different procedures and 9 different tax rates
BETFAIR, who upset the BHA when announcing they were joining other betting companies by moving offshore in March, have kept their pledge to continue to contribute to racing by donating £6 million to the Levy Board.
People like exchange betting—exchange betting appeals to people who were not currently involved in either fixed odds betting or pari-mutuel betting. The introduction of exchange wagering seems to have revitalized or reinvigorated betting in the United Kingdom and in Australia. There is no reason to suppose, from the data examined, that it would have any different effect in the United States.
Betfair, the world’s largest internet betting exchange, has entered into a new two-year corporate partnership with the Queensland Rugby Union. Having last week become an official sponsor of the Australian Rugby Union in their first ever rugby sponsorship agreement, under the terms of this deal, reported to be worth a low six-figure sum, Betfair becomes an official sponsor and wagering partner of the Queensland Reds.
BetFair, the British-based company that runs the world’s most popular betting exchange is a potential bidder for Monmouth Park, the New York state-owned thoroughbred track that Governor Chris Christie wants to unload.
State Sen. Ray Lesniak, D-Union, said Thursday that a proposed new form of betting on horse racing in New Jersey is illegal under current federal law — but he supports passage of a bill including exchange wagering anyway.
BHA chairman says Betfair is not returning enough money to racing and that business model needs corrective action
