Dubai World Cup Card Handles $2.4 Million in U.S.
Updated: Tuesday, March 30, 2004 1:40 PM
Posted: Tuesday, March 30, 2004 8:25 AM
Wagering in the United States on Saturday's six-race Dubai World Cup card totaled $2,413,588, an increase of 2.3% from last year.
More than 58%, or in excess of $1.4 million, was bet on the Dubai World Cup (UAE-I) itself, which featured a Breeders' Cup Classic -- Powered by Dodge (gr. I) rematch of Pleasantly Perfect and Medaglia d'Oro.
Other North American wagering not commingled with the global pari-mutuel pool on the Dubai card produced an additional $220,000 in handle.
The Dubai International Racing Carnival provided the first-ever global wagering pools, with customers from the United States, Great Britain and South Africa betting into one common pool.
Pari-mutuel pools were hosted by Phumelela, the official racing authority of South Africa. Totalisator systems in Britain and the United States were linked with South Africa via a secure, international communications network.
Bets were placed in each country in local currency, and then transmitted automatically to the common pool at Phumelela. Exchange rate conversion took place in South Africa, and then updated odds, pool totals and race results were re-transmitted back to each country in a format and currency native to where the bets originated.
Fair Grounds International Ventures served as the North American agent for the Dubai International Racing Carnival and offered wagering on all 10 days of the meet for the first time to U.S. customers. Prior to World Cup day, U.S. customers wagered more than $440,000 on Dubai races.
"We're extremely gratified at the success of the initial Dubai Racing Carnival in the United States," said Bryan G. Krantz, Fair Grounds president and general manager. "The level of support and international cooperation with our global partners was unprecedented and we look forward to building upon such a strong foundation for an even more successful venture into international simulcasting next year."
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