Pari Mutuel Handle

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Tampa Bay Downs Continues to Show Growth

  • News

Continuing a trend that began several years ago, on-track and total handle, as well as daily average overnight purses, at Tampa Bay Downs showed solid gains when the Florida racetrack hit the midpoint of its 2005-06 season the week of Feb. 20.

TVG Sets Quarterly Handle Record of $119.8M

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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.

Total Handle on Breeders' Cup Card Up 2.5%

All-sources handle on the Oct. 29 Breeders' Cup World Thoroughbred Championships at Belmont Park was a record $124,009,593, up 2.5% from the $120,897,141 wagered last year when the event was held at Lone Star Park.

FNYR Study, OTBs Differ on Health of System

Revenue to localities in the six off-track betting regions in New York is down more than 50% from 2000 to 2004, according to the results of a study commissioned by Friends of New York Racing, the organization that seeks to build a better economic model for the pari-mutuel industry in the Empire state. Two OTB corporations, Capital and New York City, have issued responses to the report, which they believe doesn't tell the whole story.

Hurricane Damage Could Impact Cup Handle

Breeders' Cup, already expecting to begin its Oct. 29 World Thoroughbred Championships day $13 million in the hole handle-wise compared with last year, could take an even bigger hit given a lack of established wagering outlets in hurricane-ravaged Florida and Louisiana.

Breeders' Cup Urges Policy on Rebate Shops

Breeders' Cup, faced with a potential decline in handle for this year's World Thoroughbred Championships given the absence of secondary pari-mutuel operators from its pools, is calling for the industry to expedite a policy on rebate shops.

Ohio HBPA Strikes Account Wagering Deals

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The Ohio Horsemen's Benevolent and Protective Association has approved the transmission of Thoroughbred signals from Ohio to the TV Games Network and XpressBet, and also approved the sending of the signal from Thistledown to Youbet.com. However, it has failed strike a deal with AmericaTAB, the account-wagering company owned by Ohio interests.

New Jersey Racing Weekend Sets a Few Records

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The Aug. 6-7 weekend of racing in New Jersey generated on-track attendance of more than 75,000 and a handle record of more than $21 million, according to the New Jersey Sports and Exposition Authority.

Horsemen Told of Rights to Influence Signal Fees

If horsemen believe they aren't receiving adequate compensation for their product, it's within their rights to be directly involved in the setting of host fees, a consultant said July 22 during the National Horsemen's Benevolent and Protective Association summer convention in Toronto, Ontario.

Handle Declines, But Purses Remain Steady

Pari-mutuel handle on Thoroughbred racing in the United States and Canada was down 3.8% in the second quarter of 2005, though purses dipped less than 1% for the quarter, according to the latest "Thoroughbred Racing Economic Indicators."

NTRA Strategic Plan Reflects Priority Shift

The National Thoroughbred Racing Association's strategic plan for the next five years clearly reflects a shift in priorities for the organization, though many of the core focus areas remain intact from its first business plan issued in 1997.

Youbet.com Handle Up 33% on Belmont Day

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Youbet.com, the California-based online wagering service, handled $3.4 million June 11, Belmont Stakes (gr. I) day, to bring its three-day Triple Crown total to $9.5 million. In 2003, the last time Youbet.com offered wagering on the Kentucky Derby (gr. I), Preakness Stakes (gr. I), and Belmont, total handle was $6.5 million, the company said.

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.

Total TVG Handle Up 42% in 2004

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Total wagering on the TV Games Network increased 42% in 2004, and grew 29% in the fourth-quarter of 2004, the network said in a Feb. 24 release. The increase in business was punctuated by record single-day total wagering of $5,148,375 on May 1, Kentucky Derby (gr. I) day.

Handful of Tracks, Bonus Fuel Purse Increase

Total Thoroughbred purses increased 3.42%--mostly from a limited number of sources--in 2004, while total handle on Thoroughbred races run in the United States declined less than 1%, according to a year-end "Thoroughbred Racing Economic Indicators" report released Jan. 12.

TVG Third-Quarter Handle an All-Time Record

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The TV Games Network generated its highest quarterly handle in history from July 1-Sept. 30, when $90,684,755 was bet through the account wagering system. The figure is up 41% from the third quarter of 2003.

Mixed Numbers for Second Season at Indiana Downs

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Indiana Downs closed out its 48-day Thoroughbred meet June 20 with new records, but statistically, the Shelbyville racetrack had mixed results for its second season. While the track experienced an increase in simulcast handle and attendance, on-track handle and number of starters per race were down for the meet.

Despite Rough Winter, Turfway Numbers Up

Despite numerous cancellations because of weather or track conditions, Turfway Park has registered business gains during the winter/spring meet that extends through April 1. And with live racing set to resume March 10, it appears the racing surface finally has dried out after a washed-out weekend.

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.

Ohio HBPA Seeks Mediator in Lingering Breed Dispute

The Ohio Horsemen's Benevolent and Protective Association has asked the Ohio Harness Horsemen's Association to agree to mediation in an effort to resolve "program and policy differences" between the Thoroughbred and Standardbred industries in the state.

Ohio Horsemen Force Issue on Account Wagering

A two-month shutdown of Beulah Park was averted Dec. 18 when the Ohio Horsemen's Benevolent and Protective Association and track management agreed to at least negotiate revenue splits from account wagering. If no deal is in place by Feb. 10, horsemen will withdraw permission for Ohio's live racing product to be sent to account-betting providers.

Portland Meadows Handle Highest in About 15 Years

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Changes in first post time and fuller fields have produced pari-mutuel gains this season for Portland Meadows, which on Dec. 1 cleared the half-million-dollar mark in total handle for a program for the first time in 15 years.

Oregon Hub Handle Sets Another Quarterly Record

The National Thoroughbred Racing Association's operation of wagering hub in Oregon met with much resistance from some of its member racetracks at the beginning of the decade, but one thing's for certain: The concept has caught on, even though the NTRA is no longer a player.

Officials Discuss Benefits of Racetrack Gaming

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If horse racing is to gain ground, racing interests and state lawmakers must find a way to integrate pari-mutuel wagering with electronic gaming devices, said Dr. Richard Thalheimer, professor of equine administration at the University of Louisville.

Turfway Handle Flat On-Track; Total Decreases

  • News

Turfway Park concluded its 2002 fall meet the evening of Oct. 3 with litle change in total on-track handle compared with the 2002 meet. Total handle fell 5% because of a decrease in out-of-state wagering.

To Rebate Or Not To Rebate? That's The Question

The topic of rebates, and whether they are good for the pari-mutuel industry, headed the opening day of the International Simulcasting Conference in Bal Harbour, Fla. Nearly 400 individuals representing more than 200 different organizations registered for the annual meeting.

Takeout Cut Heats Up Simmering Debate

It won't be easy to gauge the results of Keeneland's pari-mutuel takeout reduction, and the decision by the Mid-Atlantic racetracks and New York off-track betting corporations to drop the Kentucky track's signal because of concerns over a drop in revenue.

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