Webis Holdings has been issued with a two-year license extension in California.

The license was issued by the California Horse Racing Board, after a three-month extension was approved back in November.

The license will allow Watchandwager, Webis’ deposit wagering arm, to keep accepting online bets in California.

A sports betting bill is currently at the committee stage in California and if this is to be granted, Webis will be one of few firms licensed to accept sports wagers in the state.

Watchandwager President Ed Comins said: "These are very dynamic times in the racing and gaming industry in the USA, and we look forward to being ready to offer sports wagering to California residents as it is approved by the legislature.

"Our license to accept online wagers in California, and at our physical racetrack operation, are a tremendous asset to the company."