The European based Betfair gambling group has announced the acquisition of official interactive wagering and TV partner for the National Thoroughbred Racing Association in the United States, TV Games Network. Betfair paid $50 million for TVG. The deal allows Betfair to enter the legal horse racing wagering market in the United States for the first time. 

“We are tremendously excited to be the new owners of TVG and look forward to building upon the world wide experience of Betfair to help promote this great sport,” said the President of Betfair in the United States, Gerard Cunningham. “We believe TVG to be the premium product in the sector, with exceptional staff and loyal customers, and we look forward to working with the horseracing industry to help promote this great sport.”