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Betfair Welcomes Track Controlled Betting Exchange Proposal

28 September 2004

UNITED STATES – As reported by the Thoroughbred Times: "Edward Wray, co-founder of Betfair, the world's first peer-to-peer online betting exchange who is spearheading the exchange's international expansion, has welcomed a proposal for a North American exchange controlled by racetracks for the benefit of the sport.

"Chris Scherf, executive vice president of the Thoroughbred Racing Associations, suggested the track-controlled exchange as a way to combat the drain of income to racing on September 22 during the International Simulcast Conference in Sunny Isles Beach, Florida. Scherf said he hoped racing leaders would debate the proposal and take some kind of action to find more new revenue streams for racing…"

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