Pari Mutuel Wagering

News, Articles, Videos and other content about Pari Mutuel Wagering

TRA Adopts Protocol for 'Off Time' Display

The Thoroughbred Racing Associations board of directors has adopted a protocol establishing industry-wide standards pertaining to the display of accurate "off time" for the start of the race.

Online Gambling Bill Has Racing Provisions

Federal legislation that would regulate online poker and games of skill protects pari-mutuel horse racing under the Interstate Horseracing Act and includes various tax breaks sought by the racing industry, the National Thoroughbred Racing Association said Aug. 7.

Preakness Yields Bountiful Handle Increases

Preakness Yields Bountiful Handle Increases

Wagering was up on several segments of the Preakness day card, according to data released May 18 by Maryland Jockey Club officials, fueled in part by the showdown between Kentucky Derby Presented By Yum! Brands (gr. I) winner Mine That Bird and Kentucky Oaks (gr. I) victress Rachel Alexandra.

'Integrity Void' Strikes Nerve -- Again

'Integrity Void' Strikes Nerve -- Again

Simmering concerns over wagering security in the pari-mutuel industry flared up again April 21 with a strong call for independent monitoring and an end to the practice of "past-posting" -- making bets after races begin.

Youbet Expands International Offerings

Youbet.com has signed three agreements that will enable its members to watch and wager on racing from South Africa, Sweden, additional tracks in the United Kingdom, and Puerto Rico, providing nearly 24-hour-a-day racing coverage.

BC Tax Break Passes Kentucky Senate

BC Tax Break Passes Kentucky Senate

A 187-page bill that passed the Kentucky Senate March 13 includes provisions for a tax break for the Breeders' Cup World Championships if the event is held in Kentucky in 2011 or 2012, or 2011 and 2012.

Simulcast Confab to Saratoga Springs

The Thoroughbred Racing Associations has announced Saratoga Springs, N.Y., as the host city for the 18th International Simulcast Conference. The 2009 conference will be held Oct. 12-14 at the Saratoga Hilton.

TRA Adopts Protocol for Past-Posting

The Thoroughbred Racing Associations board of directors has adopted a protocol that establishes industry-wide procedures for tracks to follow in case betting fails to close promptly at the start of a race -- something commonly referred to as "past-posting."

Illinois, Oregon Horsemen Join THG

The Illinois Thoroughbred Horsemen's Association, which represents owners and trainers at Arlington Park and Hawthorne Race Course, and the Oregon Horsemen's Benevolent and Protective Association, comprised of horsemen competing at Portland Meadows, have voted to join the Thoroughbred Horsemen's Group.

ADW Model: Who's Right, Who's Wrong?

Support for reform of the revenue model for advance deposit wagering continues to increase, but as evidenced Sept. 30 during the International Simulcast Conference, it's looking more and more like a long-term project.

Ziegler Named Youbet.com Senior VP

Ziegler Named Youbet.com Senior VP

Mike Ziegler, most recently vice president and assistant general manager at Hollywood Park, has been named senior vice president of California-based Youbet.com, the company announced Sept. 16.

Computer Bets, Bookmaking Confab Topics

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.

Bill to Bag Withholding Tax Introduced

Legislation that would eliminate the automatic 25% federal withholding on pari-mutuel winnings of $5,000 or more on wagers of at least 300-1 was introduced in the U.S. House of Representatives July 29.

Betfair, U.S. Horsemen Continue Talks

Betfair, the Great Britain-based online betting exchange, continues to negotiate with officials in the United States and is inching closer to a deal by which it would compensate horsemen for use of their product.

NYCOTB Takeover Plan Appears Likely

NYCOTB Takeover Plan Appears Likely

Negotiators in New York the afternoon of June 13 were putting the final touches on legislation in which the state would take control of the New York City Off-Track Betting Corp., thereby averting a shutdown of the city's betting operations for the weekend.

Compromise Urged on New York City OTB

Compromise Urged on New York City OTB

With the clock ticking on the closure of the New York City Off-Track Betting Corp., officials from the Bloomberg administration are stepping up their calls for industry stakeholders to compromise on a bill or face the loss of more than $100 million in OTB distributions.

Wagering Mess Leads to River Purse Cut

Wagering Mess Leads to River Purse Cut

Declines in on-track wagering, a dispute with the New York Racing Association over signal fees, and horsemen's refusal to allow six major advance deposit wagering outlets to take its signal has led River Downs to cut purses 15%-18% effective May 8.

No Oaks, Derby Wagering for Calder

Because of the dispute over simulcast fees and revenue, Calder Race Course will not offer wagering on the May 2 Kentucky Oaks (gr. I) and May 3 Kentucky Derby Presented by Yum! Brands (gr. I), as well as all other races on the two programs.

Second Group of Tracks Has No NYRA Deal

Second Group of Tracks Has No NYRA Deal

Another group of racetracks won't be importing the signal from Belmont Park beginning April 30 because they collectively have failed to strike a deal on signal rates with the New York Racing Association.

NY Mandates Independent Betting Monitor

The New York State Racing and Wagering Board approved a regulation April 28 requiring tote companies to provide for independent monitoring of all pari-mutuel pools effective Jan. 1, 2009. Roughly $3 billion -- one-fifth of total handle in the United States -- will fall under the new monitoring system.

Evans: Internet and ADW Key to Growth

Evans: Internet and ADW Key to Growth

Churchill Downs Inc. has invested $100 million in advance deposit wagering for a reason: The company believes it's the major growth channel for pari-mutuel wagering, as well as a means to drive traffic to the racetrack, CDI president and chief executive officer Bob Evans said.

Progress Noted in Calder Contract Talks

Progress Noted in Calder Contract Talks

The Florida Horsemen's Benevolent and Protective Association said April 16 though advance deposit wagering remains a major issue, it believes there has been progress in other areas of contract talks for the Calder Race Course meet that begins April 21.

Florida HBPA Using THG in Negotiations

Florida HBPA Using THG in Negotiations

The Florida Horsemen's Benevolent and Protective Association has given the new national Thoroughbred Horsemen's Group authority to negotiate terms with advance deposit wagering companies for betting on races at South Florida Thoroughbred racetracks. Also, Florida horsemen want an agreement on slots revenue with Calder before any contracts are signed.

RCI: Autonomous Betting Monitor Critical

RCI: Autonomous Betting Monitor Critical

With RCI Integrity Services up and running, the Association of Racing Commissioners International has issued a strong call for the pari-mutuel industry to take advantage of something it believes is a no-brainer: an independent wagering monitoring system.

Millions on Line in Pick 6 Pool

Millions on Line in Pick 6 Pool

When 28-1 shot Cheroot prevailed in a blanket finish in the $98,650 Daytona Handicap, the Feb. 17 feature at Santa Anita Park, it triggered a massive three-day pick six carryover of $1,269,223 for the Feb. 18 holiday racing program.

Jury Out on Rebates, Computer Bets

Jury Out on Rebates, Computer Bets

There may not be imminent decisions in the ongoing debate over high-volume betting shops and computer-assisted wagering. The industry remains split on mechanisms that have increased or shifted pari-mutuel handle, depending on the point of view.

Most Popular Stories