Leading betting exchange Betfair continues to grow its presence in the US, this time with a deal with the New York Racing Association.
Under the deal, announced last week, Betfair customers will get access to the NYRA parimutuel wagering pool which will help grow the pool and provide more stable odds for all punters. The NYRA believes the deal will help it grow its international simulcast market. It will also of course grow betting revenues with access to Betfairs 2.5 million active punters.
While Betfair will maintain its policy of not accepting US player bets, it is another brand recognition foothold into the US betting market that will pay dividends if and when UIGEA is repealed.
'We are delighted to link up with the NYRA, bringing new overseas money into their pools via our worldwide customer base of over 2.5 million and, crucially, giving a new revenue stream to US racetracks and, of course, increased US betting opportunities to our customers,' said Betfair's Steven Johnson of the deal.
The deal continues a concerted strategy by Betfair to grow its US presence despite the current legal climate. Earlier this year they purchased horse racing operation TVG and have been growing their Silicon Valley operations. Like many of the online gambling majors, they want to be front and center and well prepared if Barney Franks proposed online gambling bill ever becomes law.
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