Tuesday, January 27, 2009

Betfair Buys TVG

Betfair has bought TVG for $50M. This is a huge move and could change the gambling landscape and the way handicappers have played racing in North America forever. We'll have more on this later.

For our previous discussions on Betfair and racing, they are under the archives. The last post we did on the subject is here.

5 comments:

Anonymous said...

It is one great day to be a customer of racing.

Time to get a TVG account.

Racing must be quaking in their 19th century boots with a new customer friendly player in the mix.

Cangamble said...

I wonder if TVG will take Canadian customers now:)

Ted Grevelis said...

In other times, couldn't several of us TBAers talk a bank into lending us $50M to buy TVG? THAT would have been something...

Wind Gatherer said...

Watch this space.

Glimmerglass said...

We all know MEC couldn't rub two nickles together if they had to but seriously CDI couldn't ante up $50M?

To buy a 30 million+ viewer audience cable network with some exclusive track broadcast rights, a profitable wagering arm, new production / broadcast equipment, et al for just $50M seems like a bargain.

You couldn't launch a cable network today with that level of viewer penetration for $50M.

I knew Macrovision was openly looking to shed them before EOY 2008, but this was cheap.

A great move for Betfair and likely also for TVG members with North American-European race wagering.