"Purpose-driven" gaming is historical racing that supports defined causes. Revenue from the games will primarily go to buying new bulletproof vests and body armor for law enforcement officers.
Racing's economic model was discussed as advance-deposit wagering continues to account for a larger share of pari-mutuel handle.
It's early in the process but because the wording in a current Florida Senate bill would potentially outlaw ADW, industry leaders have quickly weighed in to make sure legislators understand how devastating that outcome would be for horse racing.
A crucial issue regarding how pari-mutuel takeout is distributed for racing in California was discussed, at times contentiously, during a California Horse Racing Board Pari-Mutuel and Wagering Committee meeting Dec. 14 at Los Alamitos Race Course.
In a special meeting Nov. 22 in Lexington, the Kentucky Horse Racing Commission (KHRC) approved a rule that will require advance-deposit wagering (ADW) companies that operate in the state acquire a bond of up to $500,000 as a condition of licensing.
Continued growth in the week leading up to the Kentucky Derby Presented by Yum! Brands (gr. I) fueled an increase in earnings for the racing segment of Churchill Downs Inc. in the second quarter of 2016.
Casino at Ocean Downs, a harness track on the Eastern Shore of Maryland, is in the process of being purchased by Churchill Downs Inc. and Saratoga Casino Holdings from Delaware Park owner William Rickman.
Minnesota officials said advance deposit wagering legislation passed recently by lawmakers will provide an estimated $1.5 million in revenue that will be re-directed to horse racing and breeding in the state.
The New York Racing Association announced May 17 its national advance deposit wagering platform will be available in July to coincide with the 2016 Saratoga Race Course meet.
TVG, a leading advance deposit wagering provider, said human error was responsible for a May 7 systems breakdown that halted online wagering for more than two hours during the running of the Kentucky Derby (gr. I).
In advance of what it anticipates will be another successful Kentucky Derby (gr. I) week, Churchill Downs Inc. April 28 reported net income of $2.8 million for the first quarter of 2016.
TwinSpires.com, one of three advance deposit wagering systems licensed to accept bets from Virginia residents, had its license suspended by the Virginia Racing Commission effective Dec. 18.
Ken Kirchner, a former regulator in Pennsylvania, was hired by Breeders' Cup as a consultant in 1996, and since that time has overseen wagering formats, simulcast expansion, and elevating the product with bettors.
Legislation authorizing advance deposit wagering is on the wish list for a group of racing industry stakeholders in West Virginia, according to a report that was approved by a committee.
A group of West Virginia racing stakeholders has prepared a report on the state of the industry and makes suggestions on how to improve the economics, but when it is approved remains to be seen.
The West Virginia racing industry will pursue several initiatives during the 2016 legislative session, including statutory changes that would lower the minimum number of racing dates for which tracks must apply each year.
Racing stakeholders fully understand that having sports betting at tracks in West Virginia is a 90-1 shot. But other things like off-track betting are a bit more realistic as they fashion a wish list to increase revenue.
In its fiscal year financials filed June 17, parent company Betfair reported a strong year for its U.S. advance deposit wagering operation and racing channel, TVG.
Churchill Downs Inc. has filed suit against Daily Racing Form, alleging the company's DRF Bets wagering service violated the Interstate Horseracing Act when it took bets on this year's Kentucky Derby and Oaks.
Saying the bill would have expanded gambling in Indiana, Gov. Mike Pence has vetoed a bill that would have allowed state residents to use advance deposit wagering to bet on horse races.
The Maryland Jockey Club's Pimlico Race Course and online wagering provider Xpressbet have announced that Xpressbet will serve as the title sponsor of the Preakness Stakes (gr. I).
All-sources pari-mutuel handle on the 13-race Kentucky Derby Presented by Yum! Brands (gr. I) program May 2 totaled a record $194.3 million, up 4% from $186.6 million in 2014, Churchill Downs Inc. said.
The Washington Horse Racing Commission granted an advance-deposit wagering license to 123Gaming to operate 123bet.com at its monthly meeting April 17.
Both houses of the West Virginia legislature have adopted a resolution forming a select committee that will undertake a "comprehensive study" of the state's racing and gaming industries and report its findings in 2016.
The U.S. Court of Appeals this month upheld a U.S. District Court's ruling that the state should not have collected millions of dollars from the estate of the bankrupt account-deposit wagering outlet Racing Services Inc.
Advance deposit wagering via phone began Jan. 31 in Arizona, according to the Arizona Department of Racing. However, for the time being, residents of Pima County won't be permitted to wager on Thoroughbred races.
The Kentucky General Assembly Interim Joint Subcommittee on Horse Farming was given a generally positive update on the status of the racing and breeding industry in the state Nov. 12 in light of years of declines.
Alan Landsburg, a television writer, producer, and director who in later years focused on improving horse racing as a California Horse Racing Board commissioner and industry leader, died Aug. 14 at the age of 81.
Advance deposit wagering and historical race wagering are on the West Virginia Racing Commission's legislative wish list for 2015.
Attendance for the May 17 Preakness Stakes (gr. I) was believed to be about 117,000 as of 3 p.m. EDT with hopes by management that the final tally will be even higher.
TVG said it posted significant gains in wagering for the May 3 Kentucky Derby Presented by Yum! Brands (gr. I) program.
Arizona Gov. Jan Brewer signed advance-deposit wagering legislation into law May 5.
A bill that would allow legal advance deposit wagering in Arizona beat the legislative deadline in the early morning hours April 24 and has been sent to Gov. Jan Brewer for her signature.
Iowa has removed a restriction requiring Iowa-registered stallions to be owned by in-state residents, and breeders believe the legislative change with foster growth in the program.
The Kentucky General Assembly early March 30 signed off on a $20 billion state budget that includes revenue components for the horse racing and breeding industry, including tax rates for Instant Racing and ADW.
TwinSpires.com, the official advance deposit wagering service for the Kentucky Derby Presented by Yum! Brands (gr. I), is offering its players an opportunity to win $1 million by betting Kentucky Derby qualifying races.
Acting under a looming deadline, the Illinois legislature Jan. 29 reauthorized advance deposit wagering in the state, staving off a draconian cut in 2014 racing dates.
Illinois horsemen and representatives of the state's racetracks and Advance Deposit Wagering providers have reached agreement on an extension of ADW for three years.
Global Betting Exchange has been chosen as the winning bidder, pending finalization, to provide technological upgrades to the New York Racing Association's advance deposit wagering platform, NYRA Rewards.
Regulators who believe advance deposit wagering companies are not paying their fair share to the industry squared off against ADW reps who noted that added taxation could slow the success of a growing portion of the industry.
NTRA president Alex Waldrop sees little chance of federal legislation to allow expanded Internet wagering any time soon but he does believe that states will continue to take the lead on the issue.
The Thoroughbred Racing Protective Bureau has secured widespread support for its new Tote Security System it will launch next month with plans for full implementation early next year.
The American Gaming Association said research that shows U.S. residents bet $2.6 billion through illegal offshore gambling operations in 2012 drives home its point that online betting must be regulated.
The Illinois Racing Board June 25 formally allocated $23 million in casino money to the state's racing interests amid hopes it will bridge a financial gap until a broader gaming expansion bill is approved.
The New York Racing Association board of directors met June 10, partly in closed session, but said afterward no decision had been made on selecting a chief executive officer to lead the organization.
Advance deposit wagering companies were accepting wagers from Illinois residents June 7.
Issues critical to the future of Illinois horse racing hung in the balance May 28 as the legislature entered the final scheduled week of its spring session.
Illinois racing dates may be vacated and laboratory operations curtailed if the state legislature does not quickly reauthorize advance deposit wagering, Illinois Racing Board officials said April 30.
The Arcadia, Calif., track received final handle figures for its winter-spring meeting April 25. Handle improved 3% to $710,813,700. That increase came during a first quarter that saw U.S. handle decline 2.81%.
The Kentucky House Appropriations and Revenue Committee passed legislation authorizing a tax on advance deposit wagering Feb. 12, but it remains to be seen if all parties agree on the language in the measure.
Most Popular Stories
- Irap Gets Best of Girvin in Ohio Derby
- California Sire Benchmark Dead at 26
- 'Hermaphrodite' Reported Before Race at Santa Anita
- Battle of Midway Cruises to Affirmed Victory
- Collected Dominant Again in Precisionist Stakes
- Brothers in Arms: Idaho Takes Hardwicke Stakes
- Stormin Fever Euthanized at 23
- Mind Your Biscuits Emerges Well From Bullet Work
- Finley'sluckycharm Makes it Three in a Row in Chicago
- Undefeated Caravaggio Shines in Commonwealth Cup