Israeli Government Allows Bets on Foreign Horseracing

Israeli gaming market opens up for foreign operators Pari-Mutuel Urbaine (PMU) is reportedly one of the contenders to offer betting on foreign horse races after the Israeli Commission for Sports Gambling received the corresponding permit from the legislative branch of the Israeli government, the Knesset. Beside the permit, the Commission was approved to select a foreign company to operate the new service. It is believed that once an operator is selected, the betting on foreign horseracing will be functional within a year. The minimum bet amount is anticipated to be around NIS 10 ($2.85) and it was also assessed that all races will need to be translated, betting outlets established and other needed additions to the website conducted. So far, the Commission's focus was on football and basketball, but it has recently received approvals for other sports, as well: tennis, baseball and handball. The Commission wants to use the revenues for the construction of sports facilities in total worth of NIS 5.5 billion ($1.57 billion). Its chairman, Tzahi Fishbein said that the service would "help increase proceeds in favor of Israeli sports".