On January 31, New Jersey Governor Chris Christie signed legislation that allows exchange betting in the state. The New Jersey Sports and Exposition Authority will consider applications to run the exchange, which could be launched as soon as later this year. California also has approved exchange wagering but is not expected to launch until 2012
Yu said Betfair will work hard to find out exactly the requirements of operating in both New Jersey and California. He noted that New Jersey will likely pick up the pace on exchange wagering once it has squared racing operations. The state currently is accepting bids to operate Monmouth Park.
“I think that TVG in the U.S. positions us well. I think that in terms of time frame, I think that whereas California has made it very clear that May of 2012 will be the date that operators will be able to operate, I think that’s less clear in New Jersey,” Yu said. “So we’ll continue to work with them. I think there are some changes going on that will probably play into the time frame around the structure of what they want to do with racing in the state. I think the time frame will probably be moderated by that.
“We’ll continue to be involved. I think we’re well positioned there given our presence in the states.”
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Betfair hoping to take it,s betting exchange business to US soon
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