|The executive vice-president of the Thoroughbred horseracing association, Chris Scherf, has told American Racecourses that he recommends setting up regulated betting exchange as an extension of the pari-mutuel wagering system. Speaking at the International Simulcast Conference, he said that a unified betting exchange system would bring more revenue into the sport, as well as seeing off overseas competitors which American punters access through the Internet.|
Scherf made it clear, however, that he was no fan of the betting exchange system. “Betting exchanges, if not under our control, have the potential to do a great deal of damage,” he said. 'There’s no question [they] should be stopped at any cost and can be ruinous to our sport.'
'I would suggest we stop and look at it and figure out how to make a win-win situation for all of us,' he added