The "Head2Head" wager on Breeders' Cup day might also be called "Head2Head2Head" this year as the menu will offer two races with three betting interests instead of the usual two.
Nine of the top jockeys in the world are set to square off Oct. 28 in the International Jockey Championship at Lone Star Park.
The Foreign Sales Corporation bill, which includes a provision to strike the 30% withholding tax charged to foreigners for winnings on United States races, was signed into law Oct. 22 by President Bush.
The Belmont Park signal returned to Suffolk Downs Oct. 21after the track and the New York Racing Association struck a deal outside of the MidAtlantic Cooperative, of which Suffolk is a member.
A third-quarter increase in purses despite a decrease in pari-mutuel handle is attributed to growth in alternative gaming, the National Thoroughbred Racing Association said.
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.
The opening of an off-track betting parlor in southwest Virginia was well received, and Colonial Downs is hoping other communities react favorably when residents go to the polls in November.
A measure that would repeal the 30% alien withholding tax and allow the pari-mutuel industry to further export racing to foreign markets was approved by the U.S. Senate Monday, Oct. 11.
The International Federation of Horseracing Authorities has adopted policies that target unauthorized wagering on races.
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.
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.
The International Simulcast Conference concluded its three-day run in Miami Beach, Fla., Sept. 22 with a panel discussion that looked into why people would want to wager at racetracks instead of through account-wagering services or other outlets.
One day after the first public presentation of the National Thoroughbred Racing Association Wagering System Task Force report, two issues central to the report--wagering systems and signal pricing--were discussed in depth Sept. 21 on day two of the International Simulcast Conference in Miami Beach, Fla.
Keeneland will request approval from the Kentucky Horse Racing Authority Sept. 27 to offer a new wager whereby patrons can invest money in a group of predetermined selections during each racing program at the meet that begins Oct. 8.
Oak Tree Racing Association, which will hold its meet beginning Sept. 29 at Santa Anita Park, will offer a $1 pick five wager. It is believed to be a first, the racing association said.
A mixed reaction greeted the first public presentation of the National Thoroughbred Racing Association Wagering System Task Force report Sept. 20, first day of the International Simulcast Conference in Miami Beach, Fla.
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.
Three 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.
A 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.
The 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.
The 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.
Stevenson 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.
The 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.
Colonial 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.
The 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.
The 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.
As 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.
A dispute over account wagering in Virginian could lead to a lawsuit against Colonial Downs, the Richmond Times-Dispatch reported May 19.
A 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.
The 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.
Isidore 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.
Legislation 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.
The pari-mutuel industry April 9 officially acknowledged an initiative designed to upgrade the infrastructure of wagering systems and improve security and network capabilities.
There'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.
A Senate-approved plan to authorize creation of a multi-jurisdictional wagering hub in Kentucky was shot down by the House of Representatives March 29.
As 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.
The 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.
Legislation 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.
Stevenson & 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.
Meadowlands 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.
The 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.
The 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.
Instant 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.
The 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.
The 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.
The 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.
Instant 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.
The 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.
The 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.
Magna 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.
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