The company that launched the first betting exchange in the United States, Betfair US, believes its first year performance offers some encouraging trends for the industry.
TOC president Nick Coukos believes surface changes should be made before multi-race wagers are initiated.
TVG has announced it will begin offering commingled pari-mutuel wagering on, and live television coverage of, horse races from Happy Valley and Sha Tin racecourses in Hong Kong, which routinely attract large wagering pools.
The pros and cons of exchange wagering were among the highlights of the Jan. 24 session of the Horsemen's Benevolent and Protective Association winter convention in Pasadena, Calif.
Exchange wagering seems to be getting all the scrutiny it can handle from the California Horse Racing Board. Nearly two years after the concept was signed into law, the board decided to delay implementation June 28.
The decision by Churchill Downs Inc. to drop a longstanding insurance agreement with the Jockeys' Guild could have ramifications in California for the company's advance deposit wagering firm TwinSpires.com.
Keith Brackpool, chairman of the California Horse Racing Board, called for unanimity from the racing industry in developing proposed legislation for 2010 during a meeting April 14.
In a high-stakes "game of chicken," the California Horse Racing Board pushed account wagering a little closer to the edge Nov. 18 when it declined to renew the licenses of the state's four Internet and telephone bet companies.
Out-of-state account wagering bettors remained locked out of Hollywood Park races as a contract dispute between the Thoroughbred Owners of California and the four advance deposit wagering companies showed no sign of resolution Oct. 30, the second day of the fall meet.
After more than a year of discussion, the California Horse Racing Board has deferred any action on a proposed rule that would prohibit advance deposit wagering companies from making exclusive wagering agreements with Thoroughbred racetracks in the state.
With horsemen and Hollywood Park unable to come to agreement on revenue splits from account wagering sources for the upcoming autumn meet at the Inglewood track, the California Horse Racing Board agreed to conduct a special hearing to settle the impasse.
- By Ryan Conley
A July 21 mediation session with a member of the Oregon Racing Commission yielded no agreement in a standoff between TVG and Portland Meadows on source-market fees, although progress was reported.
A fan-friendly experiment to share racetracks among California's advance deposit wagering companies has ended with the start of the Del Mar meet July 16.
Oregon horsemen claim they are caught in the middle of a battle between TVG and Magna Entertainment Corp. over source-market fees, a dispute they claim could jeopardize this year's Portland Meadows fall meet.
With the looming expiration of an experiment to share racetracks among account wagering companies in California, representatives continue to meet in hopes of an agreement in time for the start of the Del Mar summer meet July 16.
California's advance deposit wagering truce may be coming to an end.
Presque Isle Downs is the latest track to get caught up in the battle over revenue sharing of online and telephone wagering companies as signals to many advance deposit wagering companies were cut off May 11 due to lack of agreements with the Pennsylvania Horsemen's Benevolent and Protective Association.
- By Ryan Conley
TVG has taken umbrage with a published report about the joint dismissal of a lawsuit brought against the account wagering company by Churchill Downs Inc., claiming there was no settlement involved.
- By Ryan Conley
TVG has filed a lawsuit against Magna Entertainment Corp., HRTV, and XpressBet for alleged patent infringement, the company announced May 18.
- By Jack Shinar
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.
TV 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.
- By James Platz
Legislation that became law July 1 has resulted in the TV Games Network closing the accounts of all Indiana residents.
- By Jack Shinar
Santa Anita heads into its annual meeting Dec. 26 without the television exposure enjoyed by its Southern California counterparts.
Robert Hindman, a long-time owner and breeder from Grand
Island, Neb., died Nov. 12 in Omaha.
The TV Games Network debuted on basic cable television in the Lexington market in late December of last year. And for the first six months of this year, handle on simulcast-only days at Keeneland is down more than $4.7 million from the comparable period last year.
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