Breeders’ Cup, Betfair reach deal on wagering revenue that could increase betting pools

Betfair jumps into Breeders’ Cup betting pool

LEXINGTON, Ky. — The Breeders’ Cup and Britain-based Betfair have reached a deal that will allow common-pool betting on next month’s Breeders’ Cup at Santa Anita Park.

It will be the first time bets placed by more than 2.5 million Betfair customers will be included in the Breeders’ Cup pools, and is expected to increase the total handle.

The Breeders’ Cup will receive an undisclosed percentage of revenue from exchange bets placed on its races by Betfair customers. Betfair will video stream the Breeders’ Cup races on Nov. 6-7 on its Web site.

In exchange wagering, some customers lay odds while others place wagers on those odds. Betfair takes a small percentage of the handle before payoffs are made.

International handle bet directly into the Breeders’ Cup pools last year was $17.6 million.