|Softbank is on track to become Japan's first Internet group to enter the online betting market.|
Softbank runs the Yahoo broadband service in Japan. They are planning to set up an Internet portal to provide information on the races, take bets from punters and broadcast races, via a deal with the Iwate Prefecture Horse Racing Association.
From April next year Softbank Corp will take bets via the Internet on races at two courses in Iwate prefecture, some 400 kilometres (250 miles) north of Tokyo.
The state-owned Japan Racing Association (JRA) and regional associations have already been taking bets directly via the Internet and telephone.
The law regulating horse racing was revised last January to allow privately owned companies to take bets.