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#21
01-16-2014, 10:01 AM
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#22
01-16-2014, 10:16 AM
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It will only be as good as the liquidity it gets...and the commissions need to be close to what they are in the UK for it to have a chance.
They just ran a hurdle race at some track called Market Rasen a few minutes ago. The race had a small field, and the purse was only $8,000 ...  Still, there was good liquidity in the market. Almost a million dollars matched on the win end. Fair prices to be found on both sides. Some 2/1 shot that won at Turf Paradise yesterday, you could have taken over $7,000 US on him, and all at better than 3/1 odds. If you bet 7k in the win pool, that 2/1 shot would go off 1/9 at Turf Paradise.
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#23
11-30-2015, 06:59 PM
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Betfair gains first exchange-wagering license in U.S.
By Matt Hegarty http://www.drf.com/news/betfair-gain...ing-license-us Betfair, the British-based owner of Television Games Network, has been granted a conditional license by New Jersey regulators to launch the first exchange-wagering platform in the U.S., a development that could have a dramatic impact on the racing industry if its supporters' goals are fully realized. The approval of the license could usher in a new era for Thoroughbred racing in the U.S. if the proposition of exchange wagering survives what is expected to be close scrutiny by state and federal legal authorities and myriad hurdles to its widespread adoption in U.S. states. Exchange wagering, which has been embraced in the United Kingdom but has drawn criticism in many other countries, allows bettors to post prices and accept bets from other customers of the betting platform. The practice is closely akin to bookmaking, which is illegal in nearly every state in the U.S. under strict interpretations of federal law. The license granted by the New Jersey Racing Commission is subject to the expiration of veto periods granted to both New Jersey Gov. Chris Christie and the New Jersey attorney general. Both periods expire in early December. Christie has never shown any interest in preventing the establishment of exchange wagering in the state, but the approval of the license and the eventual launch of the system is likely to draw attention from the federal Department of Justice, which has not yet issued an opinion on the legality of exchange wagering. Under current rules in New Jersey, only New Jersey residents would be able to open accounts on the platform, though residents of the United Kingdom would be allowed to bet against those New Jersey customers. Bets will only be allowed to be posted and matched on races from tracks that have explicitly granted approval to Betfair to offer the service, according to Frank Zanzuccki, the executive director of the state racing commission. Technically, Betfair received the license through Darby Development, a horsemen-led group that operates Monmouth Park in Oceanport, N.J., under a lease from the state. Dennis Drazin, the head of Darby, has pushed for approval of the exchange-wagering platform, so if successfully launched it will at the very least offer bettors the opportunity to make and accept bets on races from Monmouth, which is expected to hold live races this year from May until the end of September. "We're fully on board," Drazin said. Drazin said that Betfair officials have stated they expect to launch the platform in March. He deferred to Betfair on questions about the availability of signals, but said that he believed some Standardbred tracks have expressed interest in being offered on the site. Handle on Standardbred racing in the U.S. is roughly a tenth of handle on U.S. Thoroughbred racing. Betfair officials did not immediately respond to requests for comment. The approval of the license is the culmination of years of effort by Betfair to gain regulatory approval in a U.S. state. Only two states, New Jersey and California, have passed bills approving exchange-wagering since Betfair began lobbying state legislatures to endorse the practice after buying Television Games Network, a U.S. account-wagering provider and horserace broadcasting network, in 2009.
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All ambitions are lawful except those which climb upward on the miseries or credulities of mankind. ~ Joseph Conrad A long habit of not thinking a thing wrong, gives it a superficial appearance of being right. ~ Thomas Paine Don't let anyone tell you that your dreams can't come true. They are only afraid that theirs won't and yours will. ~ Robert Evans The Party told you to reject the evidence of your eyes and ears. It was their final, most essential command. ~ George Orwell, 1984.
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#24
11-30-2015, 07:20 PM
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Wow! This could be big!
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"A person who saw no important difference between the fire outside a Neandrathal's cave and a working thermo-nuclear reactor might tell you that junk bonds and derivatives BOTH serve to energize capital" - Nathan Israel
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#25
11-30-2015, 09:59 PM
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Wait and see. Who knows.
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#27
12-04-2015, 04:51 AM
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Linear Mode
