Betfair backs down over Hong Kong demands

Betfair backs down over Hong Kong demands

Betfair’s entry into Hong Kong racing has been
short-lived with Betfair Australia confirming
on Friday afternoon that it will no longer offer
markets on Hong Kong racing. Betfair began
offering a service on Hong Kong racing from
the start of the new season on September 1
but promptly received a ‘cease and desist
letter from the Hong Kong Jockey Club as no
agreement had been entered into. The HKJC
claimed there were integrity issues with Betfair
as punters can back a horse to lose. Betfair
has withdrawn its markets but has vowed to
strive to break into the Hong Kong market in
the future Betfair Australia made the following
announcement on Friday: “Betfair will no longer
be offering markets on Hong Kong Racing. We
will continue to reach out to the Hong Kong
Jockey Club to attempt to enter into a Product
Fee and Integrity agreement.”