Betfair’s entry into Hong Kong racing has been short-lived with Betfair Australia confirming on Friday afternoon that it will no longer offer markets on Hong Kong racing.
Betfair began offering a service on Hong Kong racing from the start of the new season on September 1 but promptly received a ‘cease and desist’ letter from the Hong Kong Jockey Club as no agreement had been entered into.
The HKJC claimed there were integrity issues with Betfair as punters can back a horse to lose.
Betfair has withdrawn its markets but has vowed to strive to break into the Hong Kong market in the future.
Betfair Australia made the following announcement on Friday: “Betfair will no longer be offering markets on Hong Kong Racing. We will continue to reach out to the Hong Kong Jockey Club to attempt to enter into a Product Fee and Integrity agreement.”