TVG Growth Booming Due to Calif. Account Wagering
Updated: Wednesday, September 18, 2002 2:47 PM
Posted: Wednesday, September 18, 2002 9:59 AM
The TV Games Network has experienced explosive growth since California adopted advanced deposit wagering last January.
During the first eight months of the year, the live racing network and wagering service total handle is up 250% from the same period of 2001.
TVG's handle accounts for 55% of all account wagering in California. If the total is combined with licensee Youbet.com, of which TVG is the largest shareholder, the account wagering market share rises to 76%. The remainder is handled through XpressBet, the online service owned and operated by Magna Entertainment.
Since California launched account wagering Jan. 25, TVG has handled $54. 2 million from state residents. California subscribers wagered $12.7 million on the Del Mar meet, which ended Sept. 11, 16.1 million on Hollywood Park's spring/summer meet, and $6.2 million on Los Alamitos, according to Mark Wilson, who will be making a presentation today at the Global Gaming Expo in Las Vegas.
Also since account wagering began, TVG acquired 17,000 new subscribers, an increase of 183% from 2001. The total subscriber base nationally is 40,000.
TVG is available in 14 million households through cable systems in Kentucky and the Los Angeles and Baltimore metropolitan areas. Among the viewers are five million who can see a two-hour afternoon program through Fox Sports West. The regional sports program has been popular, ranking second only to Los Angeles Dodgers baseball games and earning an 0.8 rating. TVG recently expanded its relationship with Fox Sports by providing live video streaming of races on FoxSports.com.
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