Betfair entering U.S. market

Printable View

28 January 2009, 7:35 am
The Buzz

Betfair entering U.S. market

European betting giant Betfair is entering the U.S. market after acquiring the TV Games Network, the official TV and interactive wagering partner of the National Thoroughbred Racing Association.

Gerard Cunningham, President of Betfair U.S, says:

Quote:

"We are tremendously excited to be the new owners of TVG and look forward to building upon the worldwide experience of Betfair to help grow the business. We believe TVG to be the premium product in the sector, with exceptional staff and loyal customers, and we look forward to working with the horseracing industry to help promote this great sport."
28 January 2009, 7:55 am
AmCan

Wow, TVG is the leading horseracing cable network and one of the largest US horsebooks. This gives then a Legal book in the US!
28 January 2009, 8:37 am
LuckyLove8

wow... i love Betfair.. i've been waiting for this to happen. this is going to be huge
28 January 2009, 10:15 pm
matted

Hmm... Entering the US market may mean different things. I'd LOVE to see it, but can't imagine they'll be taking sports or horse bets anytime soon...
29 January 2009, 10:39 am
LuckyLove8

Quote:

Originally Posted by matted

Hmm... Entering the US market may mean different things. I'd LOVE to see it, but can't imagine they'll be taking sports or horse bets anytime soon...

why? because of legal reasons?

the US as a huge horse betting culture. itd be a huge market if they took their punter-to-punter betting platform to the US. I don't think the yanks have anything like this yet
29 January 2009, 1:36 pm
joeyl

I don't think many American punters will be too happy about Betfair's premium charge.
29 January 2009, 2:02 pm
LuckyLove8

Quote:

Originally Posted by joeyl

I don't think many American punters will be too happy about Betfair's premium charge.

well not many people on the other side the Atlantic were very happy about it either... but seriously despite the press it really affects a tiny tiny minority of players. You need to have an account which is in profit over the last 60 weeks plus if the total fees during the last 60 weeks are less than 20% of your gross profit. This is a serious minority.... by Betfair's estimates it only affects 0.5% of their accounts.

i've always wondered whether the bad press was worth skimming a little off their best customers...

still for the most part, betfair offers a better deal to nearly every other punter than the traditional bookies can.