WatchandWager, an advanced deposit wagering business owned by the board of Webis, a group specialising in pool wagering, received a licence approval from the New York State Gaming Commission recently.
This new licence means WatchandWager can commence accepting registrations, deposits and wagers from residents of New York State with immediate effect and in time for the Belmont Stakes, run at Belmont Park, NY on June 10. The licence will be renewable annually.
The award of the license adds to the growing number of US states in which WatchandWager operates. Most importantly, it now secures WatchandWager a licensed presence in the two major states for horse racing by value of wagers placed, namely California and New York itself.
It is estimated that California and New York residents wager over $1bn through ADW operations per annum and wagers on races conducted in the two key states represent over 40 per cent of the total licensed US pool betting market of over $10bn per annum. The board believes the acquisition of key licenses such as these is critical to the company's future as it continues to focus on the strategic development of its B2C retail operation via the WatchandWager website.
WatchandWager president Ed Comins confirms the New York license is a significant development in the growth of the company: "We are delighted to be approved by the New York State Gaming Commission, who have a reputation for enhanced due diligence and demanding the highest levels of compliance.
“The expansion of our licenses to include New York means that WatchandWager is now available to our players in the two most populous states that allow advance deposit wagering. We look forward to giving them the very best deal on the best horse racing from the United States and around the world."
