Offshore Wagering

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Computer Bets, Bookmaking Confab Topics

  • News

Michael Konik, author of The Smart Money: How the World's Best Sports Bettors Beat the Bookies Out of Millions, will address the subject of programmed wagering and offshore booking Sept. 29, first day of the International Simulcast Conference in St. Petersburg, Fla.

SPMOs Face Mandatory Certification

Regulators in 13 racing states announced Aug. 4 they will begin the lengthy process of requiring offshore wagering entities and secondary pari-mutuel operations -- commonly referred to as SPMOs -- to obtain certification from the Association of Racing Commissioners International before they receive approval to wager into pools.

ADW Impact on Churchill Downs Unclear

ADW Impact on Churchill Downs Unclear

It's difficult to gauge the immediate effect of the ongoing dispute with Kentucky horsemen on the Churchill Downs' spring meet, as handle on racing from the opening weekend at the Louisville track was down only slightly from 2007, according to one data source.

CDI: Internal Growth, Several External Challenges

Churchill Downs the company hopes to reap the rewards of what president Tom Meeker calls a "culture change," and it also plans to utilize its resources to deal with three lingering industry problems: the tote system, offshore wagering, and short fields.

Youbet.com Purchases Offshore Wagering Company

Youbet.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.

Valenzuela's Offshore Ad Deal Finished

Just one day after jockey Patrick Valenzuela announced he had sold a two-month advertising deal to the offshore gambling Web site Betcris.com for $15,000, Santa Anita Park stewards informed the rider he'd be unable to wear the ads on his pants and his collar. Valenzuela, meanwhile, has terminated the deal.

Magazine Drops Ads From Offshore Entities

  • News

The HorsePlayer magazine, a handicapping periodical launched in 1994 and published six times a year, said March 29 it would no longer accept advertisements from offshore wagering hubs for its magazine or Web site. The decision is effective immediately.

Youbet.com Wants to Buy High-Volume Shop

Youbet.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.

National HBPA to Take Hard Look at Betting Hub Plan

The National Horsemen's Benevolent and Protective Association's Executive Committee will decide Feb. 3 whether to move forward with a plan to create an offshore wagering hub that would accept wagers from bettors outside the United States in an attempt to increase handle and generate revenue for purses.

HBPA Again Targets Revenue Leakage, Signal Piracy

The National Horsemen's Benevolent and Protective Association continues to study the problems of offshore wagering and signal piracy and leakage, and hopes to have a plan in place by the time it meets for its winter convention in late January.

America TAB Claims Betting Service Pirated Signals

America TAB, an account-wagering service whose majority owners are Beulah Park and River Downs in Ohio, said it would pursue legal action after having discovered a betting service has been pirating live racing signals from its Web site.

Hong Kong Handle Down, But Club Optimistic

  • News

Though handle was down for its most recent racing season, the Hong Kong Jockey Club remains optimistic in the wake of product expansion, including wagering on soccer games, the organization's top official said Aug. 28 during the club's annual general meeting.

Offshore Drilling

By Ray Paulick -- Horsemen are helplessly watching an increasingly larger percentage of handle go offshore.

Horsemen to Consider Operating Offshore Betting Hub

The National Horsemen's Benevolent and Protective Association, in an effort to thwart what it believes is a growing problem with the piracy of signals and subsequent loss of revenue, plans to discuss the possibility of operating its own offshore wagering hub.

CHRB Targets Offshore Gambling Advertisements

The California Horse Racing Board heard arguments April 24 on the issue of publications and radio shows in the state selling advertising to off-shore wagering operations. Residents of California are only able to legally bet through facilities licensed by the state, so wagering with offshore companies is in violation of state law.

Australians Banned From Online Wagering

Australians have effectively been banned from gambling with online casinos. The Australian Federal Government made several 11th-hour compromises to get its watered-down internet gambling bill through the Senate stage on June 28. As the bill was passed at the final sitting before the winter recess, it became illegal for Australians to bet with online casinos offshore as well as domestically.

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