In recent years, the Breeders’ Cup has attempted to increase its total mutuel handle by going international, striking deals with France in 1996 and then more countries after that.
In 2007, the Breeders’ Cup reached an agreement with Hong Kong, and on Thursday they took another major international step by agreeing to a deal with Great Britain-based Betfair, which adds a potential 3 million customers that are now allowed to participate in a common Breeders’ Cup mutuel pool.
“This is a very big deal for us in the expanding internationalization of the Breeders’ Cup,” said Breeders’ Cup official Jim Gluckson in an e-mail.
The Breeders’ Cup will receive a percentage of the revenue from exchange bets placed by Betfair customers. Betfair will also video stream the Breeders’ Cup, scheduled Nov. 6-7 at Santa Anita’s Oak Tree meet.
In exchange betting, customers lay odds and others place bets on those odds. Betfair takes a percentage of the handle before the payoffs.
Last year, international handle for the Breeders’ Cup was $17.6 million.