An investigation by the California Horse Racing Board has determined that two state-licensed advance-deposit wagering providers are currently offering or allowing players pools in violation of California law.
Like its parent company Betfair, TVG enjoyed a strong 12 months for the fiscal year ended April 30, according to financials released June 11. TVG saw handle increase 33% to $74.76 million.
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.
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.
Racing's tote system is hampering growth read blog
Increasing purses and reducing costs were primary topics at the Thoroughbred Owners of California open forum held at Santa Anita Feb. 8.
With Colonial Downs and the Virginia HBPA failing to reach a contract agreement on this year's race schedule, the track has decided to temporarily close several off-track betting locations.
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 racing remained on the brink of virtual extinction as the state legislature took no action Dec. 3 on a bill that would have provided funding to run a full 2014 schedule.
A mini-break in Santa Anita's 2014 dates, an agreement to allow HRTV and TVG to broadcast all major California racetracks, and reduced takeout on Santa Anita's Daily Double wagering were discussed at the Nov. 21 CHRB meeting.
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.
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 Illinois Racing Board approved four alternate schedules Sept. 24 for 2014 racing with legislative action--or inaction--left to determine which one is put into effect.
The Illinois Racing Board, over the strong objections of horsemen groups, approved an application from Maywood Park July 25 to act as its own Advance Deposit Wagering licensee.
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.
A major expansion of gaming in Illinois, including slot machines for tracks, was sidetracked again as lawmakers deadlocked on several key issues in the final day of their spring session.
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%.
Despite concerns voiced by one member, the Kentucky Horse Racing Commission has approved an additional 40 historical race wagering machines and additional types of games and wagers at Kentucky Downs.
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.
Legislation authorizing use of mobile devices for betting on horse races was signed into law by New Jersey Gov. Chris Christie Jan. 28.
At least three of four major advance deposit wagering companies continue to take bets from Illinois residents even though the action is illegal as of the beginning of the year, the Illinois Racing Board said Jan. 3.
Advance-deposit wagering will be illegal in Illinois effective Jan. 1, 2013, because the General Assembly has failed to renew enabling legislation, the Illinois Racing Board ruled Dec. 18.
The online wagering market will gain a new player this spring after Sportech Venues gained state approval to launch an Advance Deposit Wagering service at its Winners off-track betting unit in Connecticut.
Churchill Downs Inc. officials said Nov. 6 the company had a "decent" third quarter in 2012 and is poised for growth in 2013-14.
Customers continue to receive letters from TwinSpires.com informing them of an early August security breach that allowed access to basic personal information.
Due to a reporting error on in-state advanced deposit wagering bets during the final two weeks of the Del Mar meeting, the track has adjusted slightly downward its final figures on handle for its just-concluded meeting.
AmWest Entertainment has launched a player-driven wagering website called AmWager.com, the company announced Aug. 1.
Churchill Downs Inc. reported net earnings of $1.4 million in the first quarter of 2012, a reversal from a $3.2 million loss during the first three months of 2011.
TVG, the racing network and advance deposit wagering service, reported substantial pari-mutuel handle gains by partner racetracks April 14.
Sportech launched several initiatives, including a Spanish-language wagering website for Camarero Race Track in Puerto Rico and advance deposit wagering through Evangeline Downs & Casino in Louisiana.
The New Jersey Sports and Exposition Authority said March 1 it has reached an agreement with the New Jersey Thoroughbred Horsemen's Association for the lease of Monmouth Park in time for the track's 2012 racing season.
Representatives of eight advance deposit wagering companies seeking licenses to do business in Kentucky appeared before a racing commission subcommittee Feb. 29 to answer questions about their applications.
Legislation that would tax pari-mutuel wagers made by Kentucky residents through advance deposit wagering services passed the House of Representatives by a 79-15 vote Feb. 24.
Legislation that would tax pari-mutuel wagers made by Kentucky residents through advance deposit wagering services was approved in committee Feb. 21 and heads to the House of Representatives.
Prairie Meadows Racetrack and Casino and the Iowa Horsemen's Benevolent and Protective Association have selected TVG as the provider for an advance deposit wagering system.
The National Horsemen's Benevolent and Protective Association will tackle several issues, including governmental affairs, high volume pari-mutuel bettors, and use of furosemide on race day during its convention Jan. 12-16.
Legislation that would impose an excise tax on advance deposit wagers made by Kentucky residents was introduced in the state House of Representatives Jan. 9.
Difficulty in obtaining pari-mutuel wagering pool data and detailed player data is a major hindrance to the racing industry determining the optimal price point for takeout rates, symposium speakers said Dec. 7.
The Kentucky General Assembly probably will consider legislation in 2012 that taxes bets made by Kentucky residents through advance deposit wagering systems to bolster the Kentucky Thoroughbred Development Fund.
Keeneland has launched its own advance deposit wagering system, which is available to residents of Kentucky, Arkansas, Florida, Louisiana, and Ohio.
- By Tom LaMarra
The Jockey Club Aug. 14 announced a nine-step plan for the betterment of horse racing and breeding and expects to spend millions of dollars over the next five years to implement it.
Legislation that will expand advance deposit wagering in Louisiana was signed into law by Gov. Bobby Jindal June 30.
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