The board of Webis Holdings plc, the group specializing in pool wagering and the operators of WatchandWager and Cal Expo, the Californian harness track, has confirmed that its advanced deposit wagering (ADW) business, WatchandWager.com has received a license extension approval from the California Horse Racing Board (CHRB). The CHRB approved the extension at a meeting at the Del Mar Thoroughbred Club on November 29.
The approval allows WatchandWager to continue to accept ADW wagers from California residents on horse racing worldwide. In common with all other operators, the extension is for three months, pending a full renewal hearing in February 2019, when the board expects its license to be renewed to December 2020.
The California license is important to WatchandWager, said Webis, as the state has the largest population and possesses the fifth largest economy in the world. It noted also that in addition to granting access to this significant market, the license is strategically important for the operation in light of the anticipated legislation legalizing sports betting in the state. As an existing track operator in California, WatchandWager claimed that it is in a strong position to offer sports betting if it is passed into law.
Ed Comins, President of WatchandWager commented: “We are pleased to receive the important license extension in California and look forward to working with them to increase taxes payable to the state and our statutory charitable contributions. In addition to the tax revenue generated from wagering, WatchandWager strongly promotes the sport of horse racing in the state. We also look forward to growing our California market share while positioning WatchandWager within the fast-growing US-licensed sports betting market.”