ONLINE NEWS B
Betfair launch exchange wagering in New Jersey
etfair US, a division of recently-merged Paddy Power Betfair, has announced that it is to launch an exchange wagering service in the US state of New Jersey, through a partnership with Monmouth Park race track. The new service will enable
punters in the regulated New Jersey market to place bets on horse racing events at the venue, which is owned and operated by Darby Development. Exchange wagering offers odds that are not determined until the start of each race and are the same for all customers, with the service utilising technology to enable players to take fixed odds by proposing or matching anonymous trades with other punters via the exchange platform. Punters can also ask for better odds than those available in the market at that time, as well as continue to wager during the running of a race and to cash out before a race is complete to take a profit or mitigate a potential loss. Exchange wagering was first authorised by the state in 2011, with Betfair having held a licence to conduct such services in New Jersey since November last year. “Our experience in the UK and other markets has proven that exchange wagering is an attractive prospect for consumers and that it can bring new customers, increased engagement and new revenue to horse racing,” Betfair US chief executive Kip Levin said. Dennis Drazin, president of Darby
Development, added: “We need to embrace technology for horse racing to attract new participants, new customers and new revenue streams and we are confident that exchange wagering can help us do that. We think this can be a net positive for our industry and that it can complement traditional wagering.”
CIO FLASHBACK: Five years ago…
BINGOCAMS attempted to ‘socialise the online game’ in the UK by adding live web cams to online bingo. Cue lots of surprised brits finding themselves broadcast in their pyjamas.
VIADEN got us all hot under the
collar as we took Anna Chapman’s slot for a spin
CHILICONNECT connected players at the poker table and encouraged them to pass the time waiting for aces by challenging ‘buddies’ for cash.
and marvelled at her shiny trousers.
NEVADA casino guests marvelled at the thought of being able to gamble via mobile devices from anywhere in the casino. Er… something wrong with the casino?
BETWARE considered the dangers of bringing the lottery business online.
PARTYCASINO reported record jackpots, with ‘The Big One’ crossing the $4 million mark for the first time, while total jackpots came in at over $6 million - the highest ever seen at the time.
GENTING CASINO had a gem of a giveaway (boom boom!), offering a genuine 1 Carat Diamond to the winner of its £10,000 Chase the Diamond Race.
MAY 2016 71
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