TopBetta Holdings gets license to operate in US
The Global Tote has received tote license to provide facilities for pool betting in the U.S. and TopBetta has received a wagering license to operate retail pari-mutuel betting business in the U.S.
Pari-mutuel is a form of betting in which those backing the first three places divide the losers' stakes (less the operator's commission).
In addition, TopBetta has been granted an Advance-Deposit Wagering (ADW) license by the North Dakota Racing Commission that widens its access to both high-end and recreational punters.
This license will allow TopBetta to offer pari-mutuel betting to the U.S. public within the 35 U.S. states to which the ADW applies and which currently allow online wagering.
Competition in the ADW space is presently limited, and global wagering operators are looking at avenues to enter the U.S. prior to any changes with sports betting regulation.
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