Directors of the Thoroughbred Racing Associations formed a committee to examine the possibility of creating an industry-owned betting exchange to benefit the sport.
Chris Scherf, TRA\’s Vice President, proposed the idea as a way to counteract the rapid expansion of betting exchanges in other parts of the world.
A Betfair\’s executive attended the Symposium on Racing urging American racing officials to begin a dialogue with the company. “We’re in the fortunate position that anybody who is in that business is extremely anxious to talk with us,” Scherf said.
TRA should be ready to release a report on the subject next year in March, so that the organization could consider a course of action to protect the sport from the inevitable financial drain if independent betting exchanges are formed.
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