Betfair told to cease HK operations

Betfair Australia has been ordered to stop offering bets on Hong Kong racing in a cease and desist order from the Hong Kong Jockey Club. 

In an open letter to Betfair CEO Tim Moore-Barton, the HKJC said it had no prior knowledge that the company was planning to begin offering wagers on Hong Kong races. 

"The Club takes this matter seriously as it represents a serious integrity issue and an equally serious infringement of its intellectual property rights," HKJC secretary Philana Poon said

"In addition, creating the opportunity for people to back horses to lose is against what we all believe in."

"As a matter of principle and consistency, the Club considers that Betfair ought not be permitted to exploit overseas racing where there has been no approval from the relevant overseas racing authority.

Last month, Betfair Australia said it planned to start exchange betting on horse racing in Hong Kong from Sept. 1, offering punters the opportunity to bet on meetings in both Sha Tin and Happy Valley. 

“Our punters have been asking for Hong Kong racing for several years and we have been working on it for just as long,” Moore-Barton was cited as saying at the time. It said it would offer its full range of products, including allowing punters to bet on a losing horse.

 

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