The Hong Kong Jockey Club has issued a cease and desist demand to Betfair, stating that the exchange’s actions in offering wagering are “cavalier” and “unconscionable."
Betfair announced on August 21 that it would be offering exchange wagering on Hong Kong racing and this commenced with the Sha Tin race meeting on September 1.
In an open letter to Betfair’s chief executive Tim Moore-Barton, penned by HKJC secretary Philana Poon, “significant concerns” were outlined concerning the actions of Northern Territory-licensed betting exchange Betfair Pty Ltd.
The HKJC stated: “We operate in a highly regulated market and have an extremely strong focus on responsible wagering. Throughout all of our racing and wagering operations, we adopt an uncompromising approach to integrity.
”The Club considers that betting exchange platforms pose unique and fundamental threats to the integrity of racing. In the Club’s view, the ability for people to lay a horse and profit from it not winning is intrinsically at odds with the principle of the sport.
“The Club demands that Betfair immediately cease and desist from: offering, in any capacity or form, wagering via its betting exchange platform (including in-play betting) on Hong Kong racing; promoting or otherwise advertising, in any manner, wagering via its betting exchange platform (including in-play betting) on Hong Kong racing.”