Account Wagering

News, Articles, Videos and other content about Account Wagering

Bay Watch

By Ray Paulick - Racing has enough problems without a grandstanding politician using his position to wage a personal war with a state regulator.

Horsemen: Don't Hold Triple Crown Races 'Hostage'

Major horsemen's groups have banded together to ask racetracks and account wagering providers to make the Triple Crown races available to all wagering services in light of a conflict that is spreading ill will as horse racing's most prominent and lucrative day approaches.

THA: TrackNet Plans to Have Horsemen at Table

Though questions persist about TrackNet Media Group, the entity formed by Churchill Downs Inc. and Magna Entertainment Corp. to buy and sell simulcast signals, it has generated an initial positive response from one of the country's major horsemen's groups.

Louisiana HBPA Says No to TVG Exclusive Deal

The Louisiana Horsemen's Benevolent and Protective Association has decided not to consent to the sending of the signal from Evangeline Downs Racetrack & Casino to TVG under the current exclusive arrangement between the track and racing network.

Instant Racing Bill Still Alive in Virginia

Legislation that would allow Colonial Downs to offer Instant Racing has been attached to a bill dealing with account wagering issues and is headed to the floor of the Virginia House of Delegates. Virginia's General Assembly's session ends Feb. 24.

Instant Racing Bill Re-Introduced in Virginia

Old races may provide new funds to maintain Virginia roads should lawmakers pass a bill that has been re-introduced in the General Assembly. A similar bill that had been submitted during the General Assembly's special transportation session last September was passed over.

Mixed Ruling by Judge in New Jersey Lawsuit

  • News

A judge has denied a request for a restraining order but granted a show-cause order in connection with a lawsuit filed by the Standardbred Owners and Breeders Association of New Jersey against the New Jersey Sports and Exposition Authority and TVG.

Standardbred Owners' Group Sues NJSEA, TVG

  • News

The Standardbred Breeders and Owners Association of New Jersey has started legal action in connection with the New Jersey Sports and Exposition Authority's contract awarding TVG exclusive rights to the harness signal from Meadowlands.

TVG Sets Breeders' Cup Day Handle Record

  • News

TVG processed a record-setting $6,708,450 in wagers, including $4,815,799 in wagering on the eight Breeders' Cup World Championships events, Nov. 4 from Churchill Downs.

Account-Bet Dispute Lingers; CHRB May Act

The simmering dispute between the organization representing California's horse owners and the racing television and wagering network TVG appeared unlikely to be resolved heading into the Oct. 26 meeting of the California Horse Racing Board.

Account-Bet Dispute Addressed; Signal Available

The Ohio Horsemen's Benevolent and Protective Association has indicated Thistledown is authorized to send its signal to Youbet.com, but the California account wagering company has indicated it may not be willing to offer the signal.

Return for Deposit

By Ray Paulick - Increased distribution along with the convenience of telephone or Internet betting resulted in double-digit increases of advance deposit wagering handle in 2003-2005. Del Mar reported a 24% increase one year ago, which makes this year's 7% drop all the more puzzling -- and alarming.

Account-Bet Dispute Continues; Hawthorne Signal in Jeopardy

Churchill Downs Inc. exercised its contractual rights in regard to an account wagering dispute in Illinois by revoking permission for TVG sub-licensees to take bets on the Arlington Park signal, a company official said a day after the Arlington meet ended. Meanwhile, it remains unclear whether the Hawthorne Race Course signal would be available through TVG or other account wagering outlets.

TVG, California Horsemen Deadlock Over Hub Fees

Account wagering in California remains mired in a dispute between horsemen and TVG over setting hub fees, officials from both sides told the California Horse Racing Board on Aug. 17, with no guarantee the stalemate will be resolved soon.

Youbet .com Reports Strong Gain in Net Income

  • News

On the heels of increased revenue growth from International Racing Group, Youbet.com reported a record second-quarter net income of $2.2 million for the period that ended June 30. The figure is up from $1.3 million in the second quarter of 2005.

Despite Concern, Horsemen OK Hub Licensing Deal

Despite the opinion of its general counsel that the action could be "fraught with legal risk," the National Horsemen's Benevolent and Protective Association board of directors voted July 16 to endorse a licensing agreement with a group that plans to operate a wagering hub for the benefit of horsemen in North America.

Again, No Apparent Handle on Pari-Mutuel Handle

A two-hour discussion on account wagering and secondary pari-mutuel operations July 14 again revealed horsemen have knowledge of situations that suck revenue from purse accounts, but no definitive national strategy to recoup the money.

Horse Racing Safe as Internet Gambling Ban Passes

The United States House of Representatives passed the Internet Gambling Prohibition and Enforcement Act July 11 by a vote of 317-93, but defeated an amendment that would extended the proposed ban on Internet gambling to horse racing and state lotteries by apparently superseding existing federal law.

Horsemen Establish Wagering Operation in Nevada

The International Horsemen's Wagering Assurance Group, which intends to recapture pari-mutuel revenue and funnel it to horsemen, jockeys, and racetracks, announced it has officially opened a secondary pari-mutuel operation with a hub in Las Vegas and call center in Curacao.

Lawmaker Says Youbet.com Violating Cease-and-Desist Orders

Youbet.com, the online wagering company headquartered in California, plans to review statements given by Rep. John Conyers Jr. of Michigan during the May 2 U.S. House of Representatives Judiciary Committee hearing at which the Democratic Congressman said the company is operating despite a cease-and-desist order from the office of the U.S. attorney general.

Legislators to NJSEA: Move Faster on OTB Network

The New Jersey Assembly stepped up the pressure on the New Jersey Sports and Exposition Authority May 22 when it passed a resolution urging the agency to open off-track betting parlors that were authorized by a 1998 constitutional amendment legislatively enacted in 2001. Not one parlor has been built to date.

Youbet.com Reports Handle Increase Preakness Day

Youbet.com handled $4.2 million Preakness Stakes (gr. I) day to top last year's same day handle by 18.5%. The May 20 figure is the second-highest in the history of the account wagering service.

Interruption of Hollywood Signal on TVG Averted

A dispute between TVG and the Thoroughbred Owners of California was resolved Wednesday afternoon allowing transmission of Hollywood Park's signal on the racing network just minutes before the track's first race of the 2006 season.

Most Popular Stories