 July 22 - Betfair, the international sports betting company, may be
entering into negotiations to compensate the horse racing industry in the United
States for using its products.
US horsemen requested that Betfair pay them the same returns that it does
racing operators in other countries, including the United Kingdom.
The horsemen's main argument is that Betfair takes bets on horse races that
are run in the United States. Seeking ways to fill its coffers, the Thoroughbred
Horsemen's Group said that ideally it would like to enjoy the same payments made
to European racing associations.
It is felt that Betfair and a team of US negotiators are very near reaching a
deal that will be acceptable to all. The main difference between paying the US
horse industry and and industries around the rest of the world is that Betfair
does not accept bets from players originating from the United States because of
fears of being prosecuted under the controversial Unlawful Internet Gambling
Enforcement Act.
Betfair is considered a wagering exchange, meaning that gamblers wager
against each other instead of picking a horse off the track to bet on. Because
it is not a pari-mutuel operation, it is expected that Betfair will pay the US
horse industry one flat fee instead of a percentage amount that it pays other
industries around the world.
One horse enthusiast, who follows the industry closely said: "It's right that
they should contribute to raising the purses, 'cause they're making money off
our races. Course, what's right doesn't always happen, or else we could all
gamble on the internet without fear of our own government."
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