The online sports betting exchange Betfair could make a Horse Racing bet in the coming months as the online bookmaker totesport is about to pull the plug on their association with Channel 4 there are a number of other gaming operators looking to fill their shoes and in particular Betfair the online betting exchange which has really shaken up the online sports betting market in recent years.

It is reported that Paddy Power and Bet365 are also looking at this sponsorship but it is understood that their offers are lower than Betfair. It is believed that Betfair’s package is believed to be worth nearly £2m per year, while the offers by its two rivals are around half that amount. Negotiations are at an early point and any one of the packages could yet emerge as the winner. The successful bidder will also want to know precisely what they will get for their money, since changes to the laws on advertising for bookmakers come into force on September 1. This will allow rival firms to run adverts in Channel 4’s commercial breaks, and dilute the impact of the sponsor’s branding.
Betfair in particular would be keen to emphasise the unique aspects of its product. This could include the use of Betfair “starting prices” in coverage in addition to the SPs used by traditional bookmakers, and real-time betting information during races to publicise the exchange’s frantic in-running markets.

The high level of interest, following the Tote’s decision to cancel its current contract, will come as a considerable relief to the sport’s senior executives. Channel 4 will cover 80 days’ racing this year, and the British Horseracing Authority sees continued terrestrial coverage as essential if the sport is to maintain its public profile.

Source: Guardian