Breeders' Cup Ltd. announced Friday it has reached an agreement with Hong Kong racing authorities to offer wagering on the Breeders' Cup races in the heavy-betting island state.
The agreement, which also designates the Hong Kong Jockey Club Champions Mile as an official Breeders' Cup qualifying race, will give Breeders' Cup a foothold in the Asian betting market for the first time. Betting on horseracing in Hong Kong is astronomical by U.S. standards: in 78 days of live racing in Hong Kong last year, average handle for each racing day was in excess of $100 million.