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Exchange Wagering Approved by CHRB

California Nov. 15 moved a step closer toward becoming the first United States racing jurisdiction to offer exchange wagering.

The California Horse Racing Board unanimously approved the betting platform that allows individual players to buy and sell, "back" or "lay" wagers. CHRB staff members suggested they would not anticipate exchange wagering to be available for California residents until the second half of 2013.

In 2010 California lawmakers allowed for such wagers, and in August 2011 the CHRB published notice of its intent to promulgate exchange wagering rules. On Nov. 15 the board approved rules that would allow exchange wagers by state residents on California horse races.

Rules also could allow out-of-state residents, who live in states where it is determined to be legal, to wager on California races.



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