Third-Quarter Wagering Rose at TVG's Oregon Hub
Updated: Friday, January 12, 2001 2:16 PM
Posted: Thursday, January 11, 2001 9:26 AM
The NTRA Services wagering hub in Oregon registered a 35% increase in handle in the third quarter of 2000 compared with the year-earlier period. Total handle for the third quarter, however, represented a significant decline from the second quarter of 2000. The bump in handle for the second quarter isn't unusual given the fact the Triple Crown races are run during that period.
According to Oregon Racing Commission figures, the betting hub, operated on behalf of the TV Games Network, handled $4,283,997 in the third quarter of 2000, up 35% from the hub's first three months of operation in 1999. The third-quarter figure is way up from the $3,166,486 that passed through the hub in the first quarter of 2000, but well below the $5,556,470 handled during the second quarter of 2000.
In a summary statement, the Oregon commission said it expects "significant growth" in business for the hub as more states legalize account wagering. TVG launched on local cable television in the Lexington market in late December, though it wasn't known if handle had ramped up since that time.
Through September 2000, the hub, located near Portland, handled $13,006,953 during the nine-month period, the majority of it from bettors in Kentucky. Only two other states -- Maryland and Oregon -- were on line for the entire year. Louisiana joined during the second quarter of 2000.
For the third quarter of 2000, host and source-market fees came in at $544,000, or 12.7% of total handle. For the first nine months of the year, the TVG model generated more than $1.6 million in host and source-market fees.
TVG receives roughly 6% of total handle. The state of Oregon gets one quarter of 1%, and NTRA Services three quarters of 1%. For example, for the third quarter of 2000, NTRA Services earned more than $32,000 from the hub operation.
During the third quarter of 2000, TVG launched its online wagering platform. For the three-month period, it aired 5,011 races and was available in more than 5.3 million homes, according to the Oregon commission.
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