The Hong Kong Jockey Club (the Club) welcomes the announcement by Betfair of a pause in offering Hong Kong racing on its Betfair Exchange with immediate effect. However, the Club would like to reiterate its position that betting exchanges violate and are a serious threat to the integrity of racing. Indeed, in the Club’s view, the ability for people to lay a horse and profit from it not winning is intrinsically at odds with the principles of the sport.