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Betfair hoping to expand into the US

2017-05-30 11:02:21

This decision has been made in the face of intense competition in Europe which could see its lesser rivals either join forces or "wither on the vine," its chief executive Breon Corcoran said on Wednesday.

Current US Presence

The Irish-based group already runs the leading horse racing television and betting network in the United States and operates an online casino business in New Jersey. Last week it bought US fantasy sports company DRAFT in a $48m deal.

CEO Breon Corcoran told reporters: "I think that market has yet to open up properly. I would hope we could do more there, it's a question of legislation and opportunity. There is a lot of appetite to do more if the right thing comes up at the right price,"

A Huge Market

The fantasy sports market is worth an estimated $300m according to Betfair - it offers gambling firms the chance to compete in the US where sports betting is largely illegal.