Horseracing gambling coming to Israel-Minimum bet amount anticipated to stand at NIS 10

Israelis will soon be in a position to enter a lotto station, complete a horse racing gambling
form, watch the race on a huge screen and perhaps even make a nice profit as long as they bet on the right pony of the next race.

The Knesset’s Finance Council has granted the Israeli Commission for Sports Gambling a permit for gaming on horse races taking place abroad. In the first stage, the Commission has received an approval to contact a foreign operator to operate a betting plan for horse races abroad.

Europe has one or two horse racing gambling operators – in France, Sweden, Britain and other countries. Gamblers can bet at local stands, on their computers through the operator’s website or on the phone.

The list of races, which are held every few minutes, is released on the operators ‘ website and in its outlets, where the race can be watched on huge screens. Gamblers can collect the prize money straight after the race.

One of the operators the Israeli Commission has made contact with is French enterprise PMU, which has been active since 1931, has 11,000 outlets in France, a betting web site and a gambling telephone service.

The company, which is active in many nations, offers a wide variety of horse races happening in France, Japan, the US and Australia. France’s horse racing betting industry generates some 9 billion (about $12.5 billion) a year.

After the Commission signs an agreement with the foreign operator, it'll have to interpret the races, set up gambling outlets and adjust its site and payment arrangements. According to estimates, Israelis will be able to start betting on pony races inside one year.

The minimum bet amount is expected to stand at NIS 10 (2, $2.85), similar to the worldwide cost. Gamblers may win as much as thousands of Euro Bucks for one single bet.