Betfair Signs Second US Pool Deal – November 6th, 2009

Betfair’s U.S. based subsidiary TVG has scored a second major US horserace betting coup, signing a deal with the New York Racing Association (NYRA) to allow common-pool pari-mutuel wagering on its races to Betfair customers outside the United States.

Betfair signed a major common pools agreement with the US Breeder’s Cup just last week.

The British betting exchange will now have access to NYRA’s Aqueduct racetrack, Belmont Park and Saratoga Race Course pools, with betting open to punters at the 39-day Aqueduct Fall race meeting, which offers live racing five days a week from now until the end of 2009.

Betfair’s head of horse racing development Steven Johnson said: “Following the acquisition of TVG, Betfair has been looking to enhance its US racing product offering. We have entered into agreements with a number of US racetracks, and introduced US Tote betting onto our site last month.”

Other major deals clinched by Betfair recently include its $5.5 million investment in the US-based firm Watercooler in a bid to access the booming social networking sector.