|Betfair co-founder Edward Wray has welcomed calls by the executive vice-president of the Thoroughbred horseracing association, Chris Scherf, for tracks to set up their own betting exchanges. Wray said that; while US competition would do his own company no good, he was pleased by the growing acceptance of the betting exchange model abroad.|
“It's encouraging to see the US taking an enlightened approach to exchanges,” Wray said.
“This, together with comments from seasoned observers in Australia and elsewhere suggest that the international racing world is recognising the benefits exchanges can bring.
“British racing is flourishing. Every metric relating to it has shown impressive growth in the last few years, in a period when betting exchanges have become firmly established in the market.
“Despite claims to the contrary, the sport is better funded than ever, and interest in British racing, both from within Britain and from overseas, is at an all-time high. The same can happen overseas, and betting exchanges have a significant role to play in that process. Betfair has made it very clear that it wishes to pay appropriate product fees as it expands overseas.”