Breeders' Cup And Betfair Reach Landmark Wagering Agreement

Published: October 22, 2009 03:41 pm EDT

Breeders’ Cup Limited today announced simulcasting and licensing agreements with Betfair Group Limited which will permit common-pool wagering on the 2009 Breeders’ Cup World Championships

to be held at Santa Anita Racetrack in Los Angeles, California, on November 6 and 7.

The landmark agreement marks the first time that Betfair will commingle into the Breeders’ Cup pools. This will provide Betfair’s worldwide customer base of over 2.5 million with access to common-pool betting on the championships.

“Our agreement with Betfair is an important milestone in our ongoing effort to grow the international simulcast wagering market for the Breeders’ Cup World Championships,” said Breeders’ Cup president and CEO, Greg Avioli.

“As more and more international horses participate in our championships, interest levels and wagering handle from around the world continue to increase, allowing us to maintain the highest possible purse levels for the event.”

The licensing agreement will allow Betfair to live video stream the Breeders’ Cup races via its website and to promote exchange wagering for their international customers. The grant of license rights will permit Betfair to use the Breeders’ Cup marks and advertising in the marketing of the championships.

The agreement will see the Breeders’ Cup receive agreed revenues from Betfair’s tote and exchange betting on the championships.

Betfair and Breeders’ Cup already have a strong partnership via Betfair’s TVG, the leading interactive horseracing network in the US purchased by Betfair in January 2009. TVG is an official media partner of the Breeders’ Cup and the sponsor of the TVG Breeders’ Cup Mile.

Betfair’s director of horseracing, Stephen Burn, commented: “We are delighted to provide our customers with the ability to directly access the tote pools to America’s premier racing event.

“Our partnership with the Breeders’ Cup is the beginning of what we intend to be a mutually beneficial partnership with U.S. racing.”

International handle bet directly into the Breeders’ Cup pools on the 2008 Breeders’ Cup World Championships was $17.6 million, up 16% from 2007 and 34% from 2006. The Breeders’ Cup has been a leader in the international efforts to expand global racing and promote common pool wagering.

The 25th Breeders’ Cup World Championships last year at Santa Anita attracted a record 31 starters from outside the U.S. The Breeders’ Cup is telecast in 140 countries worldwide.

The 26th Breeders’ Cup World Championships, the world’s richest sporting event with over $25 million in purses, will be hosted by the Oak Tree Racing Association at Santa Anita Park in Arcadia, California on November 6-7.

(Breeders Cup)