10/23/09 (Last updated: 10/22/09 2:08 PM)
Breeders' Cup announces licensing agreement with Betfair Breeders' Cup Limited announced Thursday simulcasting and licensing agreements with Betfair Group Limited permitting common-pool wagering on the 2009 Breeders' Cup, which will be held at Santa Anita on November 6-7. The landmark agreement marks the first time that Betfair will commingle into the Breeders' Cup pools. This will provide Betfair's worldwide customer base of more than 2.5 million with access to common-pool betting on the races. "Our agreement with Betfair is an important milestone in our ongoing effort to grow the international simulcast wagering market for the Breeders' Cup World Championships," said Greg Avioli, Breeders' Cup president and CEO. "As more and more international horses participate in our championships, interest levels and wagering handle from around the world continue to increase, allowing us to maintain the highest possible purse levels for the event." The licensing agreement will allow Betfair to live video stream the Breeders' Cup races via its website and to promote exchange wagering for their international customers. The grant of license rights will permit Betfair to use the Breeders' Cup marks and advertising in the marketing of the Championships. The agreement will see the Breeders' Cup receive agreed revenues from Betfair's tote and exchange betting on the Championships. "We are delighted to provide our customers with the ability to directly access the tote pools to America's premier racing event," Betfair's Director of Horseracing Stephen Burn said. "Our partnership with the Breeders' Cup is the beginning of what we intend to be a mutually beneficial partnership with U.S. racing." Breeders' Cup first common-pool international wagering initiative was with France 13 years ago. This allowed people in French PMU outlets to bet directly into Breeders' Cup pools. Canada followed in 2005 and then South Africa and the British and Irish totes got involved. Last year saw $17.6 million of the $155 million bet into the Breeders' Cup pools generated from international sources. "We expect massive interest in the Breeders' Cup Pick 6s and other exotic bets while there will be trading opportunities between the U.S. pools and exchange betting which will boost turnover," Burn said. "We are very committed to racing worldwide and want to see that it thrives rather than just survives." International handle bet directly into the Breeders' Cup pools on the 2008 event was $17.6 million, up 16 percent from 2007 and 34 percent from 2006. The 25th Breeders' Cup last year at Santa Anita attracted a record 31 starters from outside the United States. The Breeders' Cup is telecast in 140 countries worldwide. |
