Advertised as the celebration that stops a nation, the 148th Melbourne Cup Carnival is scheduled for the beginning of November but Saturday saw the start of Melbourne’s spring racing carnival and crowd numbers were up 17% from last year. It was also the day that Betfair launched in-running betting on Australian horseracing.

In-running betting activity now accounts for nearly a fifth of money traded on UK horseracing and for the first time the Australian betting public will have the ability to bet right up until the winning post. They can now afford to wait until the race begins before betting on a selection, creating a completely new aspect of horseracing and bringing excitement to betting that did not exist previously.

Betfair Australia's CEO Anthony Klok said: "The in-running product will be a boon for the racing industry. With the concept comes a host of new ways to bet, stimulating interest in racing.” He added, "We've been looking forward to offering this product to Australian punters on our local product for some time. Evidence from the UK suggests it's a favourite with the punters and ultimately a great driver of interest in horseracing." (E-10.13.08)

© Copyright 2008 CasinoCompendium



>>> return to archives
>>> return to frontpage