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.
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.
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.
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.
A racetrack operator is calling on tracks to take control of simulcasts, which now produce about 85% of pari-mutuel handle in North America.
Pinnacle Sports, an offshore gambling enterprise located in Curacao, has stopped taking bets from the United States because of the Unlawful Internet Gambling Enforcement Act of 2006.
The National Horsemen's Benevolent and Protective Association again will tackle the issues of offshore simulcasts, pirating, and horsemen's rights during its winter convention scheduled for Jan. 21-25 in Tampa, Fla.
Offshore wagering services issued statements Sept. 13 expressing unhappiness with the way rebate shops were portrayed in a report that led to dismissal of charges against the New York Racing Association.
A representative of the most publicized betting exchange in the world indicated the company is actively seeking a partnership with the United States pari-mutuel industry.
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 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.
Canterbury Park, which opens May 7, will not make its live racing signal available to five wagering outlets located in and outside the United States.
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.
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, 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.
Stevenson & Associates has reached an agreement with Decker LLC to assist with the development of SimulTech, a company formed to open and operate an offshore wagering hub that would process foreign wagers on United States racing.
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.
As racing interests in California continue to study pari-mutuel wagering as it relates to out-of-state hubs and offshore operations, prices paid for signals are more and more becoming the focal point.
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, 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.
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.
- By Ray Paulick
By Ray Paulick -- Horsemen are helplessly watching an increasingly larger percentage of handle go offshore.
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.
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 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.
Most Popular Stories
- California Chrome Draws Rail in PA Derby
- Game On Dude, Won Three Big 'Caps, Retired
- Top 3-Year-Old Fillies to Battle in Cotillion
- Top Stallion Street Cry Dead at Age 16
- Ricardo Beats Baze in Champions Challenge
- Brockton Fair Invites Suffolk Downs Horsemen
- Keeneland September continues steady progress
- Kandaly, 1994 Louisiana Derby Winner, Dies
- MGC Offers Help for Displaced Suffolk Workers
- 2013 Breeding Activity Statistics Released