Pari Mutuel Wagering

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Internet Gambling Ban Resurfaces on Capitol Hill

The pari-mutuel industry, which has hired legal specialists to deal with the ramifications of a recent World Trade Organization ruling, must now deal with the reincarnation of legislation to effectively ban Internet gambling by making financial transactions illegal.

Wine Ruling Could Impact Account Wagering

A United States Supreme Court ruling that overturned Michigan and New York laws that keep wine produced out of state from being shipped to in-state customers could have implications for account wagering, a National Thoroughbred Racing Association official said.

TVG Sets One-Day, Quarterly Handle Records

TV Games Network, the 24-hour horseracing and interactive wagering network, set a one-day handle record May 7 with $6,397,203 in bets. Wagering on the Kentucky Derby (gr. I) alone was $2,767,545.

Youbet.com Has Strong Quarter; Eyes Expansion

Youbet.com registered double-digit increases in handle and total revenue for the first quarter of 2005, which helped boost net income for the online wagering company from $15,000 in the first quarter of 2004 to $1.03 million this year.

New 'Turf Trifecta' Planned at Arlington

Arlington Park plans to showcase its turf racing during the 2005 season by offering the Turf Trifecta, a $100,000 guaranteed gross trifecta pool offered on every race that is actually run on the turf at on Fridays, Saturdays, and Sundays.

Handle, Purses Down in First Quarter of 2005

Total handle on United States Thoroughbred racing in North America, as well as U.S. Thoroughbred purses, were down in the first quarter of 2005 compared with the first quarter in 2004, the National Thoroughbred Racing Association and Equibase said.

Trade Ruling Questions Horse Racing Act

A World Trade Organization report released April 7 upholds the position of the United States to protect itself from illegal Internet gambling but also calls into question the fairness of the Interstate Horseracing Act.

Woodbine Looks To Commingle With U.S. Pools

Woodbine Entertainment Group, owner of Canada's largest racetrack, has filed applications that would allow its customers to place wagers directly into common pools at two tracks in the United States--The Meadowlands in New Jersey, and Calder Race Course in Florida. Similar applications for New York and California are slated to follow, said Steve Mitchell, WEG senior vice president and chief financial officer.

Horsemen, Breeders Buy Time, Wait for Slots

With handle in January down about 9% from the same period in 2004, Philadelphia Park said its year-to-date purse overpayment has reached $1.9 million because of a commitment to boost purses while it waits to install slot machines. Meanwhile, the Pennsylvania Horse Breeders Association finished 2004 in the black, but not without some adjustments.

Oregon Hub Handle Up $53 Million in 2004

Five account-wagering hubs in Oregon handled a total of $883 million last year, up about 6% from the 2003 figure. Meanwhile, fourth-quarter handle for 2004 was down slightly from the same period in 2003, according to Oregon Racing Commission statistics.

Instant Racing Has First One-Day $1M Handle

Instant Racing--pari-mutuel wagering machines that closely resemble video lottery terminals--had its first $1-million day in handle Feb. 21 at Oaklawn Park. Instant Racing, a product of RaceTech, first began operating at the Hot Springs, Ark., racetrack in 2000.

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.

Jurors: Racing Services Must Forfeit $99M

  • News

Racing Services, the North Dakota wagering company convicted of illegal gambling, must forfeit about $99 million, the amount authorities said was wagered at an unlicensed site operated by the company.

CDI Cuts Off Betting Services, Tightens Standards

Churchill Downs Inc. has suspended its business relationship with wagering services named in an indictment over alleged illegal gambling and race-fixing, and also is tightening standards for all account wagering services that take signals from the company's racetracks.

Horsemen: No Position Yet on Rebate Shops

The National Horsemen's Benevolent and Protective Association's board of directors will decide Jan. 18 whether to endorse an updated "white paper" on simulcasting, but it won't decide--at least for several months--its position on high-volume rebate operations.

Breeds at Odds Over Iowa Purse Allocations

  • News

Thoroughbred and Quarter Horse interests in Iowa oppose a plan by the Standardbred industry to shift a larger percentage of purse money at Prairie Meadows to harness racing.

Youbet.com Continues to Ride Growth Trend

Youbet.com, the online wagering company based in California, continued its growth trend in the third quarter of 2004 with income of $791,085, compared with a loss of $617,853 for the same period in 2003.

Ohio Panel to Probe Illegal Video Gambling Devices

The Ohio State Racing Commission has opened its own investigation into a state Department of Public Safety report that video gambling machines were operating in a bar on property that includes the Cedar Downs off-track betting parlor in the northwest portion of the state.

Players' Panel Recommendations Still Await Action

A few racetracks have adopted recommendations made last year by the National Thoroughbred Racing Association Players' Panel, but NTRA officials and panel members said Sept. 28 the response generally has been sparse if not disappointing.

NTRA to Take Lead on Wagering Overhaul

The National Thoroughbred Racing Association will take a leadership role in the refinement of wagering security and infrastructure, its board of directors decided at a third-quarter meeting Sept. 24 in Dallas.

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