Betfair to Launch TV Sports Betting Service

Online gambling operator Betfair is set to launch a new television sports betting service for the Australian market after signing a deal with interactive local media and gambling firm Two Way Limited.

Sydney-based Two Way announced that the new service will be released for the new generation of TVs and Blu-Ray players which include built-in Internet connection. According to Two Way, customers will be able to place wagers on all free-to-air and pay television sporting events using their remote control.

The company will receive a license fee for the technology under the deal, as well as a share in all Betfair revenues from the platform.

"Television sports betting is an exciting new initiative in the Australian marketplace," Two Way CEO Ben Reichel said in a statement. "Our television wagering service on racing events is popular with punters and also offers high standards of integrity and commitment to responsible wagering."

Under the agreement, Two Way will also become Betfair's exclusive provider of all sports book services on television platforms for the next three years.