9th of June 2012 Author: Glo Wood
Voting postponed at horse owners' body meeting
According to media reports, board meeting of the Thoroughbred Owners of California voted on June 1st to defer a decision on betting exchange wagering in the state until 2013.
Betfair's US subsidiary TV Games Network will be disappointed by the decision bearing in mind that it was lobbying for the prospect, even commissioned a study which showed that horse racing would benefit from introducing exchange betting, attracting new fans to the sport, and increasing competition for offshore sport betting operators.
In a statement after the meeting, the TOC board said: 'The concept of exchange wagering has been a polarizing issue among the stakeholders in California racing, and this action will give us additional time to study this betting alternative and consider if it is in the best interests of the industry in our state."
"We will continue to seek alternative revenue sources and have not slammed the door closed on the concept of exchange wagering. We are simply putting this contentious issue on the back burner until we can analyze it further and, hopefully, build a consensus within the industry,' the board promised.
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