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ADWs Grab Larger Share in First Quarter Led by strong performances from Twinspires.com and Youbet.com, collective handle for the four largest domestic advance deposit wagering platforms increased by roughly 15% in the first quarter of the year, while their overall share of the national betting pie grew by more than 2%. The growth took place during a quarter when overall handle on U.S. racing declined 9.4%, showing again the shift of many bettors to ADWs, which offer wagering through Internet, telephone, and mobile-device platforms. Youbet and Twinspires, which is owned by Churchill Downs Inc., showed the largest individual gains during the quarter, jumping 29.9% and 24.5%, respectively, based on company-reported handle totals of $124 million and $76.7 million. Twinspires’ total recorded with the Oregon Racing Commission, which regulates hubs where the Big Four and other ADWs process wagers, was nearly $3 million higher at $79.6 million. Attempts to clarify the differential with respective officials weren’t immediately successful. TVG, which was acquired in January by privately-held Betfair, processed $110.6 million in wagers, up 2.3% over the $108.2 million of 2008, according ORC data. XpressBet, which is owned by Magna Entertainment Corp., lost a percentage point to $56.7 million, down from $57.3 million last year. The total first-quarter handle processed through Oregon was $281,595,151, a 20% drop from last year. But that total was impacted by the loss of nearly $118 million wagers Youbet chose to funnel outside the state. In the first quarter of 2008, Youbet ran all of its wagers through Oregon, which receives a quarter-cent on each dollar processed through the state hub.
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