Betfair Down Under Debuts In-running Betting

9 October 2008

Betfair, the international betting exchange, announced on Thursday the launch of “in-running” betting on Australian horseracing.

Beginning Saturday, Betfair Australia customers will be able to bet live while a race is in progress, which means for the first time punters down under can place a bet from after the horses leave the starting gate right up to the winning post. According to the company, in-running betting accounts for 18 percent of all money traded on United Kingdom horseracing.

“The in-running product will be a boon for the racing industry," Anthony Klok , chief executive of Betfair Australia, in a prepared statement. "With the concept comes a host of new ways to bet, stimulating interest in racing. We’ve been looking forward to offering this product to Australian punters on our local product for sometime. Evidence from the United Kingdom suggests it’s a favourite with the punters and ultimately a great driver of interest in horseracing.”