06/28/2012 5:16PM

CHRB tables talks on exchange betting rules


INGLEWOOD, Calif. - The California Horse Racing Board voted on Thursday to conduct further hearings on rules for exchange betting in the next month before revisiting the possible implementation of the rules later this summer. As a result, exchange betting is not expected to start in California until the fall, at the earliest.

The racing board had the option of adopting 26 rules pertaining to exchange betting and sending the rules to the state’s office of administrative law for a required legal review.

Los Alamitos, which conducts Quarter Horse racing, and the account wagering providers Twinspires and Betfair-TVG were prepared to ask the board for permission on Thursday to begin conducting exchange wagering this summer. Their applications were not heard after the board did not approve the rules. Exchange betting will not be conducted at the state’s Thoroughbred tracks until next summer, at the earliest, after the Thoroughbred Owners of California said last month that it would not vote on the issue until 2013. Del Mar had sought to conduct exchange betting on its meeting this summer.

Exchange betting allows customers to post odds and accept wagers on whether a horse will win or lose a race.

The racing board voted 5-1 to conduct further discussions on several aspects of the exchange betting rules, including allowing for exchange betting on track instead of only through the internet, and a clarification of rules pertaining to the suspension of a person’s license for accusations of fraud in connection with exchange betting.

The latter point was discussed by officials with the Jockey’s Guild, who fear their members will face the brunt of scrutiny in a potential investigation.

Also at issue was whether some language in the original 2010 legislation that permitted exchange wagering was poorly worded and should be revisited. Racing board chairman Keith Brackpool said the office of administrative law was better equipped to conduct such legal analyses.

Racing board officials said a hearing will be scheduled in early July, with the board expected to revisit rules at meetings in Del Mar on July 19, or more than likely, on Aug. 23.

AllanW More than 1 year ago
why would young people betting on an exchange effect old people betting pari-mutually? Exchange wagering is a young person game. PM wagering is an old mans game. Allan
Robin Dawson More than 1 year ago
Let this cat out of the bag at your peril! North American wagering is primarily pool-based (exotics) and all BETFAIR are going to do is syphon off the cream and return next to nothing to horse racing. There's is a Trojan Horse approach and, until horse racing in North America is in a healthier state, the sport just cannot afford them at this time. Just ask the authorities in England who argue consistently that BETFAIR does not reurn sufficient revenue to horse racing. Forget the sponsorship...its just cosmetic and a fraction of what they should be paying.
Stinky More than 1 year ago
Horse owners want slots only!