Webis Holdings has confirmed that its WatchandWager.com operation has been granted an Advanced Deposit Wagering (ADW) licence in the US state of Washington.
Awarded by the Washington Horse Racing Commission (WHRC), the licence will allow WatchandWager to accept on-line pari-mutuel wagers on horseracing from punters in Washington.
As required by the WHRC, WatchandWager has lodged a surety bond to the state in order to protect player balances and has also agreed to pay source market fees to the state’s only thoroughbred racetrack, Emerald Downs.
Source market fees will be reinvested into the racing industry in the form of purses for horseman and revenue to racetracks.
Ed Comins, president of WatchandWager, said: “The fact that it is a state with an increasing population and a rapidly-expanding ADW market makes it an excellent business opportunity for WatchandWager.
“We look forward to providing residents with the best racing and content available, while supporting the state’s racing industry through fees paid to racing associations, horsemen’s groups, and the WHRC.”
source : www.igamingbusiness.com