Sport is made for betting

News surfaced late last week that the state of New Jersey wish to sell off Monmouth Park thoroughbred track and Meadowlands harness track to help fix the state's ailing finances. One of the names mentioned as a potential bidder has been Betfair. Betfair interested in purchasing Monmouth Park Betfair, a popular exchange wagering company in England who also owns Television Games Network, is reportedly interested in purchasing Monmouth Park. New Jersey Gov. Chris Christie said three weeks ago that state officials would request proposals for the sale of Monmouth, along with rights to operating off-track betting. It's an interesting scenario. New Jersey is one of the two (along with California) states that have passed legislation to allow exchange betting in the near future, but there are still numerous battles to fight before that goes ahead - namely the legitimacy/morality of laying and the return to the horsemen's groups (i.e. prizemoney)... and that's before th...

TVG-Betfair to add $400,000 to purse for Beldame Stakes if Rachel Alexandra, Zenyatta race SARATOGA SPRINGS, N.Y. (AP) — Two online wagering businesses are offering to add $400,000 to the purse of the Beldame Stakes, hoping to entice Preakness winner Rachel Alexandra and Zenyatta into running against each other at Belmont Park. The pledge announced Friday by TVG and Betfair Ltd. would create a $1 million purse for the Oct. 3 race if the two female stars are in the starting gate. ------- With connections of Rachel Alexandra afraid to run on synthetic surfaces, the Breeders' Cup is out, so will the American racing public get to see the clash they are dying to see before these super female horses head to the breeding barn? We can only hope so....

Betfair continues to grow with the purchase of American racing network and betting firm TVG. And who knows what might happen with gambling laws under the Obama admisitration? Betfair purchases TVG from Macrovision Solutions Betfair’s increased presence in the United States reached new heights on Tuesday, when the e-gaming business known for its exchange wagering purchased Television Games Network. Read the full article from Thoroughbred Times here Peter Webb from BetAngel brought up the interesting point of Betfair's profits likely to fall because of interest rates being so low. The problem that Betfair has lies in one aspect of Betfair's business model. One that is directly related to interest rates. If you look at their reports and accounts in the last five years, interest received on cash in hand has totalled a eye watering £26m. In 2007 & 2008 interest received accounted for 25% of profit before tax for Betfair. So perhaps now they get more aggressive in acquiring othe...