WatchandWager secures California gaming licence
Subsidiary of UK-based Webis receives becomes fifth ADW licensee in California
WatchandWager, the tote betting and racetrack operation of UK-licensee Webis, has secured a multi-jurisdictional Advanced Deposit Wagering (ADW) licence by the California Horse Racing Board (CHRB).
The company becomes the first operator to receive an ADW in California for more than five years and only the fourth operator able to take bets from Californian residents. The licence will officially commence on 6 September 2013.
Webis pari-mutuel operations director Ed Comins said it will be “fantastic” to break into the Californian market. “This licence approval also represents another significant step forward in our overall US development strategy and is evidence of the status we now have as a business to be accepted by regulatory bodies as prestigious as the CHRB,” he added.
Formally awarded by the CHRB at its public meeting on 18 July, the licence allows WatchandWager.com to accept stakes from residents of California on all content for which it has agreements with the host track and racing breed.
The operator already has agreements in place for standardbred racing courtesy of its licenced operation at Cal Expo in Sacramento, with the company stating its intention to seek agreements with thoroughbred and quarter horse racing content providers following this approval.
WatchandWager agreed a deal to offer pari-mutuel betting and video streaming of horse racing events at Churchill Downs in May, contributing towards parent company Webis posting strong revenue growth for the financial year ended 31 May 2013.