Betfair's Statements
Betfair is a growing exchange-wagering provider which is based in Great Britain, and recently released a statement that if it would be permitted to operate in the United States it could provide in two years up to $50 million in new revenue for itself, racetracks, and horsemen.
Betfair generates about $250 million in revenue a year and has signed in 500,000 members in four years. Members of Betfair have the option to make a "peer-to-peer" bets on anything they like.
The U.S. racing industry believes Betfair accepts wagers from U.S. residents even though it is against the company's policy to accept bets from U.S. debit or credit cards.
Director of U.S. business development for Betfair, Christian Hellmers, stated that the company's gross revenue could hit $30 million by 2007, and $50 million by 2008. He said that Betfair's service could increase the $134-million annual win wagering market in the U.S. in almost 60% if exchange betting was offered to U.S. customers.
