Softbank
is on track to become Japan's first Internet group
to enter the online betting market, in a move to diversify
its business.
Softbank, which runs the Yahoo broadband service in
Japan, plans to set up an Internet portal to provide
information on the races, take bets from punters and
broadcast races, under a deal with the Iwate Prefecture
Horse Racing Association.
Softbank
Corp. says from April next year it will take bets via
the Internet on races at two courses in Iwate prefecture,
some 400 kilometers (250 miles) north of Tokyo.
"If we prove successful in Iwate, we will spread
the service to other regional races" as well as
national horse racing organized by the Japan Racing
Association (JRA), Softbank president Masayoshi Son
says Tuesday.
"We
want to expand the depth of racing fans as a whole,"
the billionaire investor, who last year bought a baseball
team, tells a news conference.
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