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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.
Wednesday, April 26, 2006Expansion of account wagering and improvements to existing platforms are a chief objective of Churchill Downs Inc., whose chief executive officer, Tom Meeker, indicated change is needed to generate more industry revenue and maintain or expand the customer base.
Wednesday, March 15, 2006In management changes announced by Youbet.com, Joe Tracy will head a new subsidiary that will develop technology-based games, products, and services, while Jeff True will serve as president of United Tote, which Youbet.com acquired earlier this year.
Wednesday, March 15, 2006The New York Racing Association, through its contract with United Tote, linked with VeCommerce Inc., of Littleton, Mass., on March 7 to provide automated telephone account management and wagering functions to its current NYRA One account holders and any new subscribers from New York and Connecticut.
Sunday, March 12, 2006The Association of Racing Commissioners International is circulating a draft overhaul of model rules governing wagering that would require, among other things, validation of all wagers by the host racetrack and transparency of all wagering activity to regulators.
Wednesday, February 15, 2006West Virginia lawmakers are considering two bills--one that would prohibit account wagering, and another that would authorize county referendums on the addition of casino-style games at Thoroughbred and Greyhound racetracks.
Thursday, February 02, 2006The National Horsemen's Benevolent and Protective Association may look for ways to pursue legal action to stop signal piracy and recover what they believe is their fair share of revenue from wagering on Thoroughbred racing.
Tuesday, January 24, 2006An electronic commerce company hopes to introduce a Web-based program that would convert legal pari-mutuel Internet wagers into on-track bets, thus increasing the share of revenue to tracks and horsemen.
Monday, January 23, 2006Almost two years after legislation was passed, the Kentucky Horse Racing Authority adopted regulations Jan. 17 to govern multi-jurisdictional wagering hubs in the state.
Tuesday, January 17, 2006The Ohio Horsemen's Benevolent and Protective Association voted Dec. 13 to oust president Gus George and replace him with Jim Yaegel, who will complete the term through the fall of 2006.
Wednesday, December 14, 2005TV Games Network set a new quarterly handle record when it processed $119.8 million in wagers in the third quarter of this year. The figure is up 32.1% from the third quarter of 2004.
Friday, November 04, 2005Almost $41.5 million in handle has passed through New Jersey Account Wagering, a joint venture of the New Jersey Sports Authority and Pennwood Racing, since its launch Oct. 28, 2004.
Tuesday, November 01, 2005A procedural move has stalled a legislator's efforts to restrict Internet gambling by cutting off its funding sources, but his campaign isn't over, according to reports.
Thursday, September 15, 2005Racetracks and horsemen in Ohio have signed an agreement that allows River Downs to offer its signal to account-wagering services effective Sept. 2, a track official said.
Friday, September 02, 2005Racetracks and Thoroughbred horsemen in Ohio remain in a stalemate that has removed the River Downs live signal from all account-wagering services, including one in which the track has ownership.
Wednesday, August 24, 2005The Ohio Horsemen's Benevolent and Protective Association has approved the transmission of Thoroughbred signals from Ohio to the TV Games Network and XpressBet, and also approved the sending of the signal from Thistledown to Youbet.com. However, it has failed strike a deal with AmericaTAB, the account-wagering company owned by Ohio interests.
Tuesday, August 09, 2005Magna Entertainment Corp. expects to have partners lined up for some of its pending racetrack gaming operations before the end of this year, and hopes to have a presence in Nevada, where account wagering could be offered in the future.
Friday, August 05, 2005If horsemen believe they aren't receiving adequate compensation for their product, it's within their rights to be directly involved in the setting of host fees, a consultant said July 22 during the National Horsemen's Benevolent and Protective Association summer convention in Toronto, Ontario.
Friday, July 22, 2005Legislation that became law July 1 has resulted in the TV Games Network closing the accounts of all Indiana residents.
Friday, July 01, 2005Jeff True, Western region general manager for Youbet.com, has been named a vice president of the company. He will continue with his current duties but also head promotion and partner development programs.
Wednesday, June 29, 2005The Congressional Horse Caucus, now more than 60 members strong, said it supports efforts to stop illegal Internet gambling but said any proposed legislation must be clarified to protect legal pari-mutuel account wagering and simulcasting.
Thursday, June 09, 2005Support for Alex's Lemonade Stand continued to grow June 3 with the announcement that more racetracks in North America--even an account wagering service--had committed to host stands June 11, the day of the Belmont Stakes (gr. I).
Friday, June 03, 2005Youbet.com has closed on its acquisition of International Racing Group, a Curacao-based account-wagering service, for $3 million. The purchase price includes $2 million in cash and $1 million worth of Youbet.com treasury stock.
Thursday, June 02, 2005Youbet.com handled more than $3.5 million on Preakness day, May 21, up 75% from the $2 million wagered on the same day in 2003, the last year the online wagering service offered the race.
Wednesday, May 25, 2005The pari-mutuel industry, which has hired legal specialists to deal with the ramifications of a recent World Trade Organization ruling, must now deal with the reincarnation of legislation to effectively ban Internet gambling by making financial transactions illegal.
Tuesday, May 24, 2005A United States Supreme Court ruling that overturned Michigan and New York laws that keep wine produced out of state from being shipped to in-state customers could have implications for account wagering, a National Thoroughbred Racing Association official said.
Tuesday, May 17, 2005TV Games Network, the 24-hour horseracing and interactive wagering network, set a one-day handle record May 7 with $6,397,203 in bets. Wagering on the Kentucky Derby (gr. I) alone was $2,767,545.
Thursday, May 12, 2005Youbet.com set records for one-day handle and customer deposits May 7, Kentucky Derby (gr. I) day, the online wagering company announced.
Wednesday, May 11, 2005The Thoroughbred industry is lining up legal assistance in its effort to understand the ramifications of a World Trade Organization Appellate Body ruling that calls into question the fairness of the Interstate Horseracing Act of 1978.
Wednesday, May 04, 2005New Jersey racing officials expect account-wagering handle to top $35 million this year in its first full year of operation.
Wednesday, May 04, 2005The Thoroughbred industry, bolstered by the efforts of its political action committee, has a decent chance to get key legislation passed in Washington, D.C., officials with the National Thoroughbred Racing Association said.
Wednesday, May 04, 2005Youbet.com registered double-digit increases in handle and total revenue for the first quarter of 2005, which helped boost net income for the online wagering company from $15,000 in the first quarter of 2004 to $1.03 million this year.
Friday, April 29, 2005Satellite television customers in Virginia who have watched horse racing on dedicated channels for several years can now wager on the races.
Wednesday, April 27, 2005A World Trade Organization report released April 7 upholds the position of the United States to protect itself from illegal Internet gambling but also calls into question the fairness of the Interstate Horseracing Act.
Thursday, April 07, 2005Youbet.com, the California-based online wagering company, has appointed the members of an independent wagering compliance committee designed to provide oversight and audit company practices.
Thursday, March 31, 2005Five account-wagering hubs in Oregon handled a total of $883 million last year, up about 6% from the 2003 figure. Meanwhile, fourth-quarter handle for 2004 was down slightly from the same period in 2003, according to Oregon Racing Commission statistics.
Friday, March 04, 2005TV Games Network has reached an agreement with Philadelphia Park to begin broadcasting and taking wagers on races from the southeast Pennsylvania racetrack effective March 4.
Friday, March 04, 2005Total wagering on the TV Games Network increased 42% in 2004, and grew 29% in the fourth-quarter of 2004, the network said in a Feb. 24 release. The increase in business was punctuated by record single-day total wagering of $5,148,375 on May 1, Kentucky Derby (gr. I) day.
Thursday, February 24, 2005Youbet.com, which recently topped the $1-billion mark in handle, announced Feb. 8 it has a letter of intent to acquire International Racing Group, the Curacao-based account wagering company named but not charged in an 88-count federal indictment that alleged illegal gambling.
Wednesday, February 09, 2005Prairie Meadows cannot receive payments from services that take Internet or telephone wagers from Iowa residents, according to an Iowa attorney general's opinion.
Tuesday, February 01, 2005Churchill Downs Inc. has suspended its business relationship with wagering services named in an indictment over alleged illegal gambling and race-fixing, and also is tightening standards for all account wagering services that take signals from the company's racetracks.
Thursday, January 20, 2005Youbet.com and AmericaTab, two online wagering companies, will again be able to offer races from all Magna Entertainment Corp.-owned racetracks under agreements announced Dec. 23.
Thursday, December 23, 2004D. G. Van Clief Jr., commissioner of the National Thoroughbred Association, said the NTRA will move forward with three goals: to make racing a Top 10 sport in America, grow handle to specific target levels, and to act as a convening authority.
Friday, December 10, 2004The TV Games Network generated its highest quarterly handle in history from July 1-Sept. 30, when $90,684,755 was bet through the account wagering system. The figure is up 41% from the third quarter of 2003.
Wednesday, November 10, 2004Several jockeys earned bonsuses this summer under the Oregon Racing Commission's jockey incentive program, which is designed to encourage riders to participate at fair meets in the state.
Wednesday, November 10, 2004The Oct. 30 Breeders' Cup World Thoroughbred Championships at Lone Star Park set several handle records, including an all-sources mark that topped the previous standard by a little more than $200,000.
Friday, November 05, 2004Youbet.com, the online wagering company based in California, continued its growth trend in the third quarter of 2004 with income of $791,085, compared with a loss of $617,853 for the same period in 2003.
Thursday, November 04, 2004The first-ever national Breeders' Cup Ultra Pick 6 "Players' Pool" introduced by AmericaTab produced five winning tickets that paid a total of $280,748.
Monday, November 01, 2004The account-wagering era in New Jersey began Oct. 28, only two days before the Breeders' Cup World Thoroughbred Championships. Though the system was up and running in the nick of time, it has been years in the making.
Friday, October 29, 2004The MidAtlantic Cooperative and the New York Racing Association have struck an agreement that will allow cooperative members and their wagering facilities to import the Aqueduct signal effective Oct. 27.
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