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political move for Betfair in California

Interesting move here by Betfair just when they are working hard to strike a deal with the Horsemen's Group in order to get exchange wagering off the ground in California. It's already passed through legislature, it just needs approval by industry stakeholders to get going. This isn't the first time they've bought the naming rights to a racecourse, Sandown in Melbourne, Australia, was called Betfair Park for three years (2009-2011) until the deal was recently taken over by Sportingbet.

Betfair signs five year Hollywood Park deal

Betfair has increased its burgeoning American presence with a five-year naming rights deal for Hollywood Park, which will be known as Betfair Hollywood Park.

Betfair, which owns the TVG televised racing and betting network in the States, has pledged to make "significant infrastructure investments and improvements" to the track, which hosted the first Breeders' Cup in 1984 but has been in decline for several years.

Betfair US chief executive Stephen Burn said: "We are deeply committed to changing US horseracing for the better and are delighted to find a partner in Hollywood Park Racing Association willing to take the bold step of trying to change every facet of the racing experience to appeal to a broader, younger audience."

The deal is contingent on the California Horse Racing Board approving 2013 dates for Hollywood Park, threatened by closure in recent years.

The sponsorship comes at a time as the CHRB is considering regulations to legalise the introduction of betting exchanges for California residents.

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