BetFair pen 5 year £40 million deal with British Horse Racing

Online betting exchange BetFair have penned a big deal which will help secure the future and development of British Horse Racing. The five year deal will see BetFair drive at least £40 million to the sports after coming to terms with the British Horse Racing Authority, the Racecourse Association and the Horsemen’s Group. This is a massive deal, as BetFair will pay out nearly eleven percent of their revenue from UK punters on Horse Racing through their betting exchange. BetFair were keen to secure the deal which will back the strength and the growth of British Horse Racing. This is an important move for the betting exchange, because they know where their bread is buttered. During the last financial year, nearly 43% of all revenue in sports betting at BetFair came from horse racing. So they will be putting forth a big investment in themselves in a way. This new agreement replaces their voluntary commitments to the Horserace Betting Levy.