An increase in field size and familiarity with the product has led to some growth in business at Presque Isle Downs, which began its inaugural meet Sept. 1.
An experiment by which the blended pari-mutuel takeout rate at Laurel Park was cut in half proved popular in theory but not at the betting windows. But was it a bust?
Attendance was up 60% to 63,566 from the corresponding day last year, and handle increased 12.5% to HK$825 million on opening day of the Hong Kong racing season at Sha Tin racecourse.
The 15th International Simulcast Conference in Kansas City, Mo., Sept. 17-19 will focus on the impact of 21st-century technology on the pari-mutuel industry and the wagering routine of North American bettors.
Capitol Racing at Les Bois Park wrapped up its 46-day live racing season Aug. 11 with double-digit increases in on-track attendance and handle.
Attendance, on-track handle, and all-sources handle remain up through three weeks of the Saratoga meet when compared with figures for the comparable period in 2006, the New York Racing Association announced Aug. 13.
The Saratoga meet got a quick jump out of the gate, with the New York Racing Association reporting a 14% increase in attendance and double-digit increases in handle during the first six days of the session.
In a program billed "Ten Days at 10 Percent -- Racing's Best Bet," pari-mutuel takeout on Maryland's live races will be cut in half during Laurel Park's 10-day summer meet that runs from Aug. 10-23.
Purses and pari-mutuel handle were up slightly in the second quarter of this year compared with the same period in 2006.
Indiana Downs reported handle growth during its 2007 Thoroughbred meet, including a 28.71% increase in total wagering on the live product. Total handle has more than doubled since 2005.
Revenue from slot machines will allow Philadelphia Park Casino & Racetrack to raise purses 20% beginning with the July 14 program at the Pennsylvania track.
A lucrative meet at Fair Grounds and the advent of slot machines at race meets in Florida and Pennsylvania fueled a 13% hike in purses for the first quarter of 2007, but handle was down.
Arlington Park reported a 25% increase in handle and a healthy jump in attendance for its opening weekend this year.
An application by twinspires.com, the new Churchill Downs Inc.-owned account wagering service, was approved by the Virginia Racing Commission.
A new report by the New York Senate Committee on Racing, Gaming, and Wagering lists the top 10 problems in horse racing in the state and solutions for them.
Purses and handle on Thoroughbred racing in the United States increased 3.3% and 1.5%, respectively, in 2006
TVG processed a record-setting $6,708,450 in wagers, including $4,815,799 in wagering on the eight Breeders' Cup World Championships events, Nov. 4 from Churchill Downs.
The Breeders' Cup simulcast helped trigger a record day for New Jersey Account Wagering and increased wagering at both Meadowlands and Monmouth Park.
Keeneland officials reported an all-time fall meet attendance record of 28,880 Saturday, the second day of the Lexington racetrack's meet. The figure topped the previous record of 27,788, set Oct. 14, 1989.
The mixed meet at Prairie Meadows Racetrack & Casino experienced a 12.5% increase in overall betting per day, but a 4.6% drop in on-track wagering.
Del Mar officials said the second half of the Southern California racetrack's 43-day meet helped offset on-track declines caused by unusual heat and humidity early in the season.
On the heels of increased revenue growth from International Racing Group, Youbet.com reported a record second-quarter net income of $2.2 million for the period that ended June 30. The figure is up from $1.3 million in the second quarter of 2005.
Pari-mutuel handle increased 0.56% to slightly more than $4 billion during the second quarter of 2006, compared with $3.99 billion during same period in 2005, according to information released Monday.
River Downs and Thistledown combined July 6 for what is believed to be an all-time one-day Thoroughbred handle record for the state of Ohio.
Youbet.com handled $4.2 million Preakness Stakes (gr. I) day to top last year's same day handle by 18.5%. The May 20 figure is the second-highest in the history of the account wagering service.
On the heels of an announcement by Beulah Park officials that the track's winter/spring meet produced an all-time record handle, the Ohio Horsemen's Benevolent and Protective Association claims the success did little for purses.
Beulah Park in Grove City, Ohio, set an all-time handle record during its 75-day winter/spring meet that spanned Jan. 7-May 6.
TV Games Network set a one-day handle record of $7,555,958 Kentucky Derby day, May 6. The amount was up 18% from Derby day in 2005.
Youbet.com, the online wagering company with headquarters in Southern California, handled $5.6 million Kentucky Derby day, May 6, an increase of 34% from 2005 and the highest one-day amount in the history of the company.
Betfair, the rapidly growing exchange-wagering provider based in Great Britain, believes it could provide up to $50 million in new revenue for itself, racetracks, and horsemen by 2008 should it be permitted to operate in the United States.
Legislation that would funnel more than $50 million a year to the Illinois racing industry cleared a House committee March 1, but it failed to win enough support after a third reading March 3.
Oaklawn Park raised overnight purses $700 per race effective March 1 because of an increase in Instant Racing revenue and overall handle.
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.
Beulah Park set an all-time one-day handle record, while Turfway Park has increased purses because of business gains.
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.
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.
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.
Almost $41.5 million in handle has passed through New Jersey Account Wagering, a joint venture of the New Jersey Sports Authority and Pennwood Racing, since its launch Oct. 28, 2004.
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, 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.
Breeders' Cup officials hope large fields and a revised race order contribute to fuel solid wagering for the Oct. 29 World Thoroughbred Championships at Belmont Park.
Racetracks and Thoroughbred horsemen in Ohio remain in a stalemate that has removed the River Downs live signal from all account-wagering services, including one in which the track has ownership.
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.
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.
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.
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."
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, 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.
Total in-state handle during the Pimlico Race Course spring meet was up 18.3% from the corresponding 2004 meet, according to figures provided by the Maryland Jockey Club.
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.
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