|Monday, June 20, 2005
|Contact: Maurits Bruggink
|Canadians allowed to bet in US pools
The regulatory authorities in Canada have agreed with Canadian racetracks to allow for Canadians to bet into U.S. pools. This is attractive to Canadian racetracks, who can now offer simulcasting of U.S. races together with the betting.
The agreement follows last year's abolition of 30 percent withholding tax on any foreign bet made in U.S. pools.
Despite the agreement, there are still a number of technical matters will still have to be resolved before betting could take place. These include conversion rates for currencies and IT compatibility between the Canadian and U.S. pools.
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