Oregon Hub Handle Clears $200M in Second Quarter
The five account-wagering companies that have multi-jurisdictional tote hubs in Oregon reported gains in handle in the second quarter of 2003 compared with the first quarter of this year. Total handle through the five hubs was $222.21 million, up about 150% from the second quarter of 2002.According to figures provided by the Oregon Racing Commision, Youbet.com led the way with $67.97 million wagered in the second quarter, up from $52.27 million in the first quarter of 2003. Youbet.com handle has risen every quarter since it opened its hub in Oregon in third quarter of 2001.Oneclickbetting.com, operated by Philadelphia Park, handled $61.27 million in the second quarter of 2003, up from $53.35 million in the first quarter of this year. Much of the handle is derived from Great Britain, where Greenwood Racing-owned Philly Park, through The Racing Channel, offers United States races in the evening.Oneclickbetting.com opened its Oregon hub in the second quarter of 2002, and handle has risen each quarter since that time.As previously reported, TV Games Network set a quarterly handle record of $60.98 million in the second quarter of 2003, up from $25.24 million in the first quarter of the year. TVG has had a few quarter-to-quarter declines since it took over operation of the hub from NTRA Services in mid-2001.America TAB, operated by Beulah Park and River Downs in Ohio, handled $27.50 million through its Oregon hub in the second quarter of 2003, up from $20.88 million in the first quarter of this year. America TAB has had one quarter-to-quarter decline in handle since it opened its hub in the second quarter of 2001.US Offtrack, operated by the Greyhound Channel, handled $4.48 million in the second quarter of 2003, up from $4.15 million in the first quarter of this year. US Offtrack has had some quarter-to-quarter declines in handle, but like TVG, the company's total for the second quarter of this year was a record.The state racing commission receives one-quarter of 1% (.025%) of money wagered through the hubs as a pari-mutuel tax. One-third of the amount is given to the state general fund, and the remaining two-thirds to the Pari-Mutuel Industry Development Fund.In fiscal year 2001-2002, the most recent for which numbers are available, the commission distributed $202,360 to the industry fund for a jockeys' incentive fund and purse supplements at summer fair race meets in Oregon.
by Tom LaMarra
Date Posted: 8/29/2003 9:41:16 AM
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