Betfair Australia plans to start exchange betting on horse racing in Hong Kong from Sept. 1, according to media reports.
Betfair Australia is due to offer exchange punters the opportunity to wager bets on meetings from both Sha Tin and Happy Valley.
“Our punters have been asking for Hong Kong racing for several years and we have been working on it for just as long,” Betfair Australia chief executive Tim Moore-Barton was cited as saying. “Today I’m really excited to allow punters to legally bet against each other on some of the best horse racing in the world.”
It will offer its full range of products, including allowing punters to bet on a losing horse.
Betfair Australia is launching its Hong Kong product without the approval of the Jockey Club.
“Betfair Australia’s announcement that it intends to offer wagering on Hong Kong racing has been made without any consultation with the club and is without our permission,” Jockey Club executive director of customer and international business development Richard Cheung Che-kit was cited by the South China Morning Post as saying in a statement.