Calif. Horse Racing Board votes to further study regulations

Jul 2, 2012 6:57 PM

The California racing regulators seem to have adopted the precept it is better to delay and be right than to be hasty and be wrong. That is their approach to a proposal to permit exchange wagering.

After nearly two years of study, the California Horse Racing Board voted 5-1 to further study the 25 proposed regulations governing the new betting system proposed by Betfair, the U.K. gaming company that owns TVG.

Exchange betting allows customers to post odds and accept wagers from other customers on whether a horse will win or lose a race.