Pari Mutuel Wagering

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Horsemen Eye Legal Action to Recover Revenue

The National Horsemen's Benevolent and Protective Association may look for ways to pursue legal action to stop signal piracy and recover what they believe is their fair share of revenue from wagering on Thoroughbred racing.

Report: New York Must Overhaul Racing Laws

New York officials need to act quickly to launch a major overhaul of racing laws to help jumpstart the state's $1.4-billion Thoroughbred racing industry, Friends of New York Racing concluded in its year-end report on the status of pari-mutuel horse racing in the state.

NTRA Moves on Breeders' Cup, Wagering Integrity

The National Thoroughbred Racing Association, during a Dec. 1 meeting, approved a revised operating and licensing agreement with Breeders' Cup that will last at least one year, and received a report on what could be the first step toward formation of the long-awaited national Office of Wagering Integrity.

Youbet.com Has Deal to Buy Tote Company

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Youbet.com, which earlier this year purchased an offshore wagering company, has entered into an agreement to purchase United Tote for $49 million, the company announced Dec. 1. United Tote supplies tote services to more than 90 pari-mutuel facilities in North America.

High-Volume Shop Licensed by Oregon Regulators

International Racing Group, a rebate shop located in Curacao but owned and operated by United States-based Youbet.com, was licensed by the Oregon Racing Commission Nov. 2, and is the first such entity to be licensed by U.S. regulators.

Racing Services Founder Reports to Prison

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A few days after a federal judge denied granting her a new trial, Susan Bala, the founder and former president of North Dakota's Racing Services Inc., reported to prison Sept. 30 to begin serving a 27-month sentence.

Kentucky OTB Parlor to Mark 10th Anniversary

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Kentucky Off-Track Betting's facility in Pineville will celebrate its 10th anniversary this weekend of Sept. 2-4. More than $51 million has been wagered at the facility since it opened in 1995.

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

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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.

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