Betfair Australia to launch exchange on Hong Kong racing

Flutter Entertainment’s Betfair Australia has confirmed that it will be launching a new betting exchange on horse races in Hong Kong, despite not being sanctioned by the Jockey Club. 

Set to begin on 1 September, which coincides with the start of the Hong Kong 2019-20 racing season, Betfair Australia is due to offer exchange punters the opportunity to wager bets on meetings from 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,” Betfair Australia chief executive Tim Moore-Barton said. “Today I’m really excited to allow punters to legally bet against each other on some of the best horse racing in the world.”

Addressing the launch of the exchange, Moore-Barton has emphasised that the integrity of the exchange will not be compromised. He pointed out that fears of such an occurrence are unnecessary, as Betfair Australia will offer stewards access to detailed information about who is betting on what to help police the sport, differentiating itself from illegal exchanges. 

“The level of transparency we have with racing stewards is world-class,” Moore-Barton said.

“[In Australia], the Flemington control room has BetMon – a live alert monitor, a bespoke product Betfair has built, which gives you real-time access to all the transactions. That level of transparency is actually what racing bodies need and want.

“Nearly every racing body in Australia and others globally that have access to the integrity tools we provide say it’s a key part of piecing together the big picture in their fight to keep the sport clean.”