Betfair US NJ exchange wagering - Goes live on 10th May

[pete15]

http://www.sbcnews.co.uk/northamerica/2 ... outh-park/


will uk people be able to co mingle the exchanges ?

[andyfuller]

Thanks for posting that - I hadn't seen anything about this until now.

I suspect it will be a closed system and not open to the UK but you never know!

[Euler]

I believe it's open to UK customers, but I don't know the full details. I think there are limitations on where it is being offered and how so the core underlying markets will probably not be that liquid. But it's better than nothing.

[pete15]

they have agreements only with monmouth at the moment, the other 2 in new jersey are meadowlands and freehold , both trotting tracks which have yet to sign up.

im sure in time they will want a sportsbook to bet at fixed odds there in the future, once there in then im sure they will have something lined up to maximise there profits for the share holders

[Mikky]

I remember what the American Goivernment did to online Poker! Basically allowed online poker, but no banking or financial institution was allowed to deal with online gambling! They did it all through the backdoor too, slipping the UIGEA into a larger bill to get it through their voting system.

Wonder how this gets around all that?

[Euler]

I've visited Betfair in the US a few times and seen the draft proposal and legislation and it's pretty complicated and involves many parties. But the market base rate (commission) is going to be very high. at least double, to give each party a share.

[jimibt]

I've visited Betfair in the US a few times and seen the draft proposal and legislation and it's pretty complicated and involves many parties. But the market base rate (commission) is going to be very high. at least double, to give each party a share.

so in a nutshell, stand down private!

[megarain]

I spent the last 5 weeks, visiting various locations in the US.

Horse racing, is a tote monopoly, and the deductions for each racecourse, are listed here.

http://www.horseplayersassociation.org/ ... table.html

So, u can see, monmouth currently has 17%, deduction, for the win pool.

12% for Betfair, looks v high, but, maybe Betfair had no choice.

Being able to take a price .. is massive .. it will be interesting to see the liquidity etc.

I went to Keeneland ..25k peeople a day .. 55k on weekends. Now monmouth wont be anythng like .. maybe 2k people, but, expect people to be interested in exchange betting.

I do think, the USA mkt, for tools like Betangel, could be v big. Education, will be needed, and, might provide some opportunities ...

[Euler]

I was rather hoping the West Coast would come online first, much better weather.

http://www.betangel.com/blog_wp/2014/11 ... alifornia/

[herbie]

'Drive through betting'... priceless

[Euler]

Comments from a beta tester

http://crunktrunk.tumblr.com/post/14405 ... mpressions

[convoysur-2]

help me please im confused,
so today is the 10th and this is the day the exchange opens up ,
but havent we always been able to back and lay these meetings ?
(im not familour with usa racing)
so what is new ?

[Euler]

Basically that US customers can now officially use the exchange now.

[convoysur-2]

thanks peter,
the penny wouldent drop with me,

[convoysur-2]

so im trying to find what events are open on the exchange for usa customers,just to see how it goes,
but betfair dont seem to know anything ,and say its not available in usa yet,,