RCI Gets Call for a Wagering Clearinghouse
Updated: Friday, March 31, 2006 1:32 PM
Posted: Thursday, March 30, 2006 2:00 PM
In order to help racing jurisdictions get a better grip on just exactly who is betting into their pools, a call was made out at the Association or Racing Commissioners International convention for the RCI to take the lead in forming a "wagering clearinghouse" for secondary betting entities.
The RCI convention, which runs through Friday, is being held at the Hyatt Regency Tamaya Resort near Albuquerque, N.M.
During a model rules committee meeting, Richard Shapiro, chairman of the California Horse Racing Board, discussed the situation in his state, and how to make the situation better.
"In California, the tracks may go out and negotiate with XYZ betting outlet," Shapiro said. "We (the CHRB) ask 'are they betting through our pools?' The answer: 'Yes.' Then, we need to know who they are, that they are properly organized, that their systems are secure, so we know who is wagering into our pools and that is where there is a big breakdown. I'm asking RCI to take the lead on that."
Shapiro then proposed for there to be a standard review and approval of all the secondary pari-mutuel wagering entities before they are allowed to enter into the wagering pools.
"As we get license applications from our racing associations, there is an attachment for all of the places where they have an agreement for sending the signal and where there are all these secondary betting places that bet through our pool," he said. "They'll be a list of 50 or more and we need to know we're doing the due diligence that they have been fully vetted and checked out.
"I'm asking that RCI develop, as part of their racing integrity services, a division that would review, do background checks, be able to report back to every jurisdiction who the people are, what their financial capabilities are, that their systems are secure, so we know who are wagering into our pool are legitimate entities that we want in our pools. Right now, I don't believe that is being done as well as it could be.
Shapiro said the program could be funded by the individual racing associations to get copies of the reports, with that price, they'd "have comfort knowing that somebody has thoroughly vetted them."
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