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This week it announced plans to build a TV channel devoted to betting on football, basketball, baseball, hockey and soccer if, as expected, the U.S. Supreme Court paves the way for regulated sports betting nationwide.
Kip Levin, chief executive officer for U.S. operations of Paddy Power Betfair Plc, told Bloomberg:
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Paddy Power’s biggest presence in the U.S. is TVG, which is available in 45 million homes. But the key to the company’s profits is taking bets online on behalf of horse tracks through the TVG’s website, which operates in more than 30 states. It wouldn’t be difficult to expand to football and basketball bets, Levin said, envisioning a scenario where TVG handles online sports wagers for some of the 150 tracks at which it already offers racing coverage and betting.