During the National Horsemen\’s Benevolent and Protective Association summer convention in Toronto, Christian Hellmers, who represents the betting exchange in the US, said the company\’s objective is to work with the racing industry to develop a model for compensation. Hellmers said that horse racing could expand its market by embracing Betfair, as the service could prove attractive to market traders and stockbrokers who might not otherwise bet on racing. He also claimed that Betfair could actually help racing by shifting money from offshore services that take bets on racing outside of the pari-mutuel system. In separate news, Betfair has organized a meeting with Northern Upper House members in Tasmania hoping to head off any opposition, as the State Government prepares to make a final decision on whether to grant the company a license.
Betfair wants to align with the US racing industry
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