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The task force formed to look at why handle is up but purses are down ended up producing a report that tackles other issues such as disclosure of information from wagering outlets, technological limitations in tote systems, and the need for a secure database of wagering information.
Friday, September 17, 2004Three account wagering providers that hub through Oregon set all-time records for a three-month period in the second quarter of 2004, according to statistics provided by the Oregon Racing Commission.
Monday, August 23, 2004A recently released report on wagering trends concludes the "handle up, purses down" situation isn't new, and that "incentive wagering service providers"--rebate operations--improve the competitiveness of the pari-mutuel industry.
Wednesday, August 04, 2004The National Horsemen's Benevolent and Protective Association has adopted a memorandum of understanding with a company that plans to operate an offshore wagering hub, and it also endorsed a draft a report on pari-mutuel economics that suggests high-volume betting shops are important to the industry.
Monday, July 26, 2004The New Jersey Racing Commission expects to consider a "participation agreement" for distribution of revenue from account and off-track wagering at an Aug. 18 meeting at which the stakeholders are expected to apply for a license to begin account betting.
Tuesday, July 20, 2004Stevenson and Associates is in the process of lining up potential investors for SimulTech, a company formed to operate an offshore wagering hub that would accept bets on United States racing from foreign countries.
Monday, July 19, 2004The Breeders' Cup Future Bet won't be offered this year, but an official said he hopes it eventually returns under a format whereby wagering would be offered on more than 24 interests. Meanwhile, talks are under way about a new wager tied to jockey performance in the eight-race series.
Friday, July 16, 2004Colonial Downs announced July 13 it received a license from the Virginia Racing Commission and immediately began its "Colonial Downs PhoneBet" account wagering operation. It is the only licensed operation in the state.
Thursday, July 15, 2004The National Thoroughbred Racing Association Wagering Systems Task Force, formed to study why handle is up but purses are down, plans to release its report in August, officials said.
Wednesday, June 30, 2004The United States House of Representatives June 17 passed the American Jobs Creation Act of 2004, another step toward possible repeal of the 30% withholding tax on pari-mutuel winnings by foreign bettors on U.S. races.
Thursday, June 17, 2004As the National Thoroughbred Racing Association Wagering Systems Task Force prepares to hear recommendations on ways to address the "handle up, purses down" situation, operators of high-volume betting shops believe they might be a target and suggest that, as generators of up to 15% of annual handle in North America, they should be directly involved in the process.
Thursday, May 27, 2004A dispute over account wagering in Virginian could lead to a lawsuit against Colonial Downs, the Richmond Times-Dispatch reported May 19.
Wednesday, May 19, 2004A major corporate tax bill under consideration in the United States Senate includes a few provisions for the pari-mutuel industry, including elimination of the 30% withholding tax on bets made by foreigners.
Tuesday, May 11, 2004The five account wagering hubs in Oregon handled $179,546,773 in the first quarter of 2004, up 13.16% from the first quarter of 2003. Several of the companies had record first quarters.
Friday, May 07, 2004Isidore Sobkowski, previously chief technology officer at Self Service Technologies in Stamford, Conn., has been special consultant on technology and interim director of the National Office of Wagering Security.
Friday, April 23, 2004Legislation to authorize creation of an international wagering hub was passed by the Kentucky House of Representatives April 13, final day of the 2004 regular General Assembly session.
Wednesday, April 14, 2004The pari-mutuel industry April 9 officially acknowledged an initiative designed to upgrade the infrastructure of wagering systems and improve security and network capabilities.
Friday, April 09, 2004There's more than meets the eye as the pari-mutuel industry examines the relationship between handle and purses, and the National Thoroughbred Racing Association is working behind the scenes to investigate the legal ramifications.
Saturday, April 03, 2004A Senate-approved plan to authorize creation of a multi-jurisdictional wagering hub in Kentucky was shot down by the House of Representatives March 29.
Tuesday, March 30, 2004As some lawmakers and off-track betting corporations push for an increase in pari-mutuel takeout, New York regulators March 30 agreed to lower the takeout on certain pick six wagers at New York Racing Association tracks.
Tuesday, March 30, 2004The Kentucky Senate March 26 passed three-prong legislation that authorizes creation of an international wagering hub, paves the way for live Quarter Horse racing, and gives Standardbred racetracks a tax break.
Friday, March 26, 2004Legislation to authorize wagering hubs in Kentucky was introduced in the state Senate in early March and is moving through the legislative process as an amendment to a bill that would permit artificially inseminated horses to race in Kentucky. A hub measure was introduced in 2002 but it failed to garner support.
Thursday, March 25, 2004Stevenson & Associates has reached an agreement with Decker LLC to assist with the development of SimulTech, a company formed to open and operate an offshore wagering hub that would process foreign wagers on United States racing.
Friday, March 19, 2004Meadowlands in New Jersey will team with Capitol Racing in California on a new Wednesday pick six designed to tie into all wagering outlets in the Golden State, where the bet traditionally has generated the most action.
Thursday, March 11, 2004The Ohio Horsemen's Benevolent and Protective Association and Beulah Park have struck a deal on revenue splits for account wagering, but the chief negotiator for the horsemen's group called it a big-picture issue that needs attention and leadership on the national level.
Monday, March 08, 2004The president of a growing account wagering service said handle declines at major winter meets aren't good for racing, and he suggested it's time for a "fragmented industry" to move forward in the best interests of its customers, racetracks, and horsemen.
Monday, March 08, 2004Instant Racing, which combines pari-mutuel wagering with video gaming technology, had its best month ever at Oaklawn Park when patrons poured $5.82 million through the machines in February.
Monday, March 08, 2004The debate over pricing, rebating, and computer betting has put the pari-mutuel industry at odds with some of its best customers, and judging from the latest exchange of opinions and statistics, it could be some time before the situation is resolved.
Friday, March 05, 2004The boards of the Thoroughbred Racing Associations and Harness Tracks of America held a joint meeting March 4, in part to discuss the working relationship between The Jockey Club and Scientific Games in their in effort to upgrade technology and improve security in the national wagering system.
Thursday, March 04, 2004The Magna 5, a pick five bet that links races from tracks owned by Magna Entertainment Corp., continued to pick up steam Feb. 21 with its highest handle in a four-week period.
Monday, February 23, 2004Instant Racing, a pari-mutuel gaming system currently available at wagering outlets in Arkansas and Wyoming, will be expanded in those two states early this year.
Friday, February 20, 2004The National Thoroughbred Racing Association Players' Panel, formed in the wake of the Breeders' Cup Ultra Pick 6 fraud of 2002, has issued policy recommendations on subjects of "serious concern and importance" to pari-mutuel customers.
Thursday, February 19, 2004The National Horsemen's Benevolent and Protective Association has officially put its weight behind a plan for an offshore hub that would accept wagers from foreign countries and funnel them to a common pool from which racetracks and horsemen would derive revenue.
Wednesday, February 04, 2004Magna Entertainment Corp.'s top executive admitted the company has taken plenty of heat for recent business decisions tied to account wagering and rebate shops, but he indicated the racing conglomerate wouldn't apologize for a strategy he said is designed to benefit the industry in the long term.
Monday, February 02, 2004The record-breaking media deal agreed up in June 2001 by the majority of Great Britain's racecourses and broadcaster attheraces has collapsed.
Monday, January 26, 2004The scheme by three former fraternity brothers to fix the $3.1-million Ultra Pick Six payoff on the 2002 Breeders' Cup World Thoroughbred Racing Championships will be featured on national television tonight, Monday, Jan. 19.
Monday, January 19, 2004Handle through the AmericaTab family of account-wagering services was up almost 90% the first six days of January even though the services weren't permitted to offer betting on Magna Entertainment Corp. racetracks, including premier meets at Gulfstream Park and Santa Anita Park.
Wednesday, January 07, 2004Handle through the AmericaTab family of account-wagering services was up almost 90% the first six days of January even though the services weren't permitted to offer betting on Magna Entertainment Corp. racetracks, including premier meets at Gulfstream Park and Santa Anita Park.
Wednesday, January 07, 2004Total handle on Thoroughbred racing in the United States and Canada increased by only 0.9% in 2003, according to the National Thoroughbred Racing Association and Equibase.
Monday, January 05, 2004Magna Entertainment Corp. initiated restrictions upon or pulled its live racing signals from most account-wagering services effective Dec. 26, and at least one operator isn't happy about the developments.
Tuesday, December 30, 2003Wagering outlets and tote providers that fail to comply with security and technological upgrades mandated by the proposed National Office on Wagering Security will find themselves on the outside looking in, officials said Dec. 12 as the University of Arizona Symposium on Racing wrapped up business for 2004.
Friday, December 12, 2003The 2020 Committee of the Thoroughbred Racing Associations unanimously decided Dec. 10 to establish a model rule for totalisator systems in the event tote communications are interrupted. The decision stems from incidents in which past-posting has occurred after system failure.
Thursday, December 11, 2003Self-service wagering terminals tied to young women known as "hotwalkers" are being marketed by Futuristic Technologies, a company headed by Andy Stronach. The concept has generated much talk and looks at the University of Arizona Symposium on Racing, where the company has rolled out the machines, complete with the human touch.
Thursday, December 11, 2003Jean Major said he can't argue with the benefits of racetrack slot machines in Ontario, Canada. But he indicated there are two sides to every story, and suggested some procedures to ensure substantive growth in the horse racing industry.
Tuesday, December 09, 2003After months of debate, the California Horse Racing Board has shot down a proposal for a wager in which winning is tied to losing favorites.
Tuesday, October 28, 2003As the Breeders' Cup World Thoroughbred Championships approached the morning of Oct. 25, officials were hoping this year's $3-million guaranteed Breeders' Cup Ultra Pick 6 would be a success in light of last year's well-publicized incident of insider tampering. Measures are in place to avoid a similar scenario.
Saturday, October 25, 2003New York Racing Association officials said it appears losses were kept relatively low from a September incident in which at least a dozen wagering outlets failed to stop taking bets after a Belmont Park race had begun.
Tuesday, October 07, 2003In an unusual move, Pompano Park in South Florida has eliminated show wagering on all races for the 129-night meet that begins Oct. 10 and concludes May 1, 2004.
Wednesday, October 01, 2003The National Thoroughbred Racing Association Sept. 26 approved the position of chief security officer in keeping with a recommendation from Giuliani Partners and its Wagering Technology Working Group in the wake of the Breeders' Cup Ultra Pick 6 fraud of 2002.
Friday, September 26, 2003The producer, director, and screenwriter of the movie Seabiscuit believes horse racing is ripe for growth -- if it focuses on the characters in the game rather than the gambling aspects of it.
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