iGaming Business – Online casino and sportsbetting provider Webis Holdings has announced that its WatchandWager.com deposit wagering subsidiary has received approval from the Thoroughbred Owners of California organisation to allow residents in the US state to wager on thoroughbred racing.
The approval will cover thoroughbred racing in the US and all international jurisdictions in which WatchandWager.com has rights.
WatchandWager.com can now accept wagers from Californian residents on thoroughbred content throughout its website.
The agreement involves a statutory $50,000 (€36,584) one-off payment in prize money contribution to the California Purse Fund and also ensures that a percentage of all bets placed by resident in the US state directly benefits Californian Racing.
The approval may also be subject to certain separate track group and media agreements but WatchandWager.com said it was “confident” that these would be in place over the coming months.
To support this initiative, WatchandWager.com has committed what it described as a “substantial” sum to marketing California Racing, with main marketing activity due to commence early in the second quarter of 2014.
“For WatchandWager to be approved and operating as a first mover in the Golden State, will not only positively impact our business as a licensed Advanced Deposit Wagering operator, but also put WatchandWager in a very attractive strategic position as the debate regarding on-line Poker is widely expected to hot up in California early this year,” WatchandWager.com’s president, Ed Comins, said.
The news comes shortly after WatchandWager.com also announced it is to partner the Breeders’ Cup US horseracing event for a fifth consecutive year, as reported by iGaming Business.
