LOS ANGELES, December 5 – TVG Betfair will demonstrate a test model, or first stage application, of its proposed U.S. exchange wagering system at the “Symposium on Racing & Gaming” in Tucson beginning tomorrow. The University of Arizona's Race Track Industry Program presents the symposium. TVG Betfair is a symposium exhibitor and panel participant.
In the fall of 2010, the California state legislature added exchange wagering to the state's horseracing wagering menu, with implementation scheduled for next summer pending contractual agreements between an exchange operator and state tracks and horsemen's organizations and regulatory approval.
“We are pleased to show the racing industry an early version of our proposed California exchange wagering product,” said Stephen Burn, CEO of TVG. “This is very much a first phase and we're hoping for extensive feedback from people at the symposium.”
Added Burn, “We know the introduction of exchange wagering to the United States pari-mutuel market is eagerly anticipated by consumers and we look forward to creating new wagering markets for horse racing. This is a tool to benefit the entire industry and input from industry stakeholders will help us develop the right product, with the right pricing, for both the sport and the fans.”
Burn will participate in a Symposium panel titled, “New Frontiers in Wagering,” scheduled for Wednesday.
TVG, a subsidiary of Betfair Group Ltd, the premier e-gaming betting community, is among the most widely distributed horseracing networks in the world. TVG is one of the largest legal online gaming companies in the US, accepting over $600 million in wagers in 2010. The company has demonstrated its commitment to the racing industry, its owners, tracks and fans through sponsorship of several preeminent races including the TVG Breeders Cup Mile and the TVG Pacific Classic. TVG viewers in certain areas can wager interactively on races via telephone, the Internet, TVG Mobile or Interactive Television by establishing a wagering account online at www.tvg.com or by telephone at 1-888-PLAY-TVG.
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