Horseracing, despite reports of the industry being on the verge of death, still does significant business in the United States.  Last year alone, horse racing saw $14 billion in bets.  Of that amount $1.5 billion was bet online.  Online casinos may be illegal in the United States, but horse racing is well protected by the United States government.  Some states, like Kentucky, rely heavily on revenues from horse racing. 

Of the $1.5 billion wagered on horse racing online, the online casino operator Betfair wants a more significant portion of that business.  In order to achieve that they purchased the TV Games Network, a channel that broadcast horse racing event to over 30 million households in the United States.

TV Games Network handled about $500 million of the $1.5 billion wagered on online horse racing.  Betfair intends to use the television station to bring horse racing into the next millennia and establish a whole new base of gamblers.

Horseracing has been looking for a savior for years now.  Until now, the only answer seemed to be slot machines.  Slot machines have done well to keep tracks open but they really have nothing to do with horse racing.  Horse racing seems to have become an added variety show to venues that are quickly becoming either slots parlors or casinos. 

Betfair’s plan makes horse racing the central focus.  Betting on horse racing with Betfair and TV Game Network will be a lot like watching a favorite television show on Hulu.  Gamblers will be introduced to a highly interactive community site which allows them to place bets, compare notes, and hopefully make some cash.