Breeders’ Cup Limited announced Thursday simulcasting and licensing
agreements with Betfair Group Limited permitting common-pool wagering on the
2009 Breeders’ Cup, which will be held at Santa Anita on November 6-7.
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
more than 2.5 million with access to common-pool betting on the races.
“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 Greg Avioli, Breeders’ Cup president and CEO. “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.
“We are delighted to provide our customers with the ability to directly
access the tote pools to America’s premier racing event,” Betfair’s Director of
Horseracing Stephen Burn said. “Our partnership with the Breeders’ Cup is the
beginning of what we intend to be a mutually beneficial partnership with U.S.
racing.”
Breeders’ Cup first common-pool international wagering initiative was with
France 13 years ago. This allowed people in French PMU outlets to bet directly
into Breeders’ Cup pools. Canada followed in 2005 and then South Africa and the
British and Irish totes got involved. Last year saw $17.6 million of the $155
million bet into the Breeders’ Cup pools generated from international sources.
“We expect massive interest in the Breeders’ Cup Pick 6s and other exotic
bets while there will be trading opportunities between the U.S. pools and
exchange betting which will boost turnover,” Burn said. “We are very committed
to racing worldwide and want to see that it thrives rather than just survives.”
International handle bet directly into the Breeders’ Cup pools on the 2008
event was $17.6 million, up 16 percent from 2007 and 34 percent from 2006. The
25th Breeders’ Cup last year at Santa Anita attracted a record 31 starters from
outside the United States. The Breeders’ Cup is telecast in 140 countries
worldwide.