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Horsemen hashed out the issue of high-volume bettors and rebates Jan. 13, and in the process got a fairly detailed look at their impact on pari-mutuel Thoroughbred racing in the United States.
Friday, January 13, 2012Proponents of computer-assisted wagering sought Sept. 21 to dispel what they say are misconceptions -- and they also offered some advice to the struggling pari-mutuel industry.
Tuesday, September 21, 2010After the first three days of its "exacta bonus" experiment, Delaware Park returned more than $8,000 to players on track, according to figures released by the track the week of Sept. 6.
Thursday, September 09, 2010
Rebates to wagering customers have become so widespread that the California Horse Racing Board is preparing to rescind its rule against the practice.
Thursday, February 26, 2009Two brothers have been charged by the U.S. District Court in Nevada in connection with a U.S. Attorney's Office investigation that included the former offshore rebate shop International Racing Group.
Wednesday, February 25, 2009Here's a fact: Some domestic advance deposit wagering outlets are openly offering cash rebates to customers that wager on California racing signals.
Wednesday, February 04, 2009This year's International Simulcast Conference opened Sept. 29 with some advice to the horseracing industry: Embrace the "whales" and computer-assisted wagering, and close some tracks to help improve the product at those that remain.
Monday, September 29, 2008The National Horsemen's Benevolent and Protective Association will address rebates, computer-assisted wagering, equine drug testing, immigration, and other issues during its winter convention scheduled for Jan. 24-28, 2008, in New Orleans.
Tuesday, November 27, 2007
New York Gov. Eliot Spitzer has vetoed legislation advocates said would have made it easier for tracks and off-track betting corporations to begin bettor rebate programs as a way to compete with off-shore entities and others in the pari-mutuel wagering industry.
Thursday, August 02, 2007New York racing regulators have approved a plan by the New York Racing Association and Capital District Regional Off-Track Betting Corp. to start players rewards programs for frequent bettors.
Tuesday, March 28, 2006After nearly a year of delay, New York racing regulators are due to vote March 28 on a plan by the New York Racing Association to start a players' rewards program for frequent bettors.
Monday, March 27, 2006New York should permit public and private partnerships to bid on the New York Racing Association franchise, allow bettors to wager via computers, introduce frequent-betting rewards programs at tracks, and approve the merger of the state's off-track betting corporations, according to an ambitious legislative package proposed March 9 by Friends of New York Racing.
Thursday, March 09, 2006Woodbine Entertainment Group has reiterated its views on non-racetrack rebate shops by denying International Racing Group access to Woodbine-hosted pools.
Thursday, December 22, 2005Youbet.com has closed on its acquisition of International Racing Group, a Curacao-based account-wagering service, for $3 million. The purchase price includes $2 million in cash and $1 million worth of Youbet.com treasury stock.
Thursday, June 02, 2005Youbet.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.
Friday, April 29, 2005Youbet.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.
Wednesday, February 09, 2005Racing 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.
Tuesday, February 08, 2005One 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.
Wednesday, September 22, 2004A 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.
Tuesday, September 21, 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, 2004Magna Entertainment Corp. is still willing to partner with the New York Racing Association, but it is also pursuing its own move into the New York marketplace in case NYRA isn't serious about a merger, MEC president Jim McAlpine said.
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, 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, 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, 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 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, 2004By Ray Paulick -- This year-end headline could not have gone unnoticed by anyone operating a racing stable--large or small--or by the leaders of organizations whose mission is to improve the economics of the Thoroughbred industry: 2003 Handle Up Slightly, But Purses Decrease.
Tuesday, January 13, 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, 2004A track operator and a leading handicapper at an Albany Law School conference Aug. 5 were unable, not surprisingly, to agree whether the growing use of rebates in the racing industry is a good thing.
Tuesday, August 05, 2003California Horse Racing Board chairman Roger Licht said he favors changing state law to allow the pari-mutuel industry to pay rebates to its customers.
Monday, March 17, 2003The National Horsemen's Benevolent and Protective Association, in an attempt to solidify revenue derived from pari-mutuel wagering, will soon release a comprehensive position paper that touches on everything from source-market fees to rebates.
Wednesday, January 29, 2003By Ray Paulick -- A number of readers took exception to comments made in this space last week concerning account-wagering operators that attract customers by offering rebates of 10% or higher.
Tuesday, November 19, 2002By Ray Paulick -- Some track officials and horsemen have begun to question the wisdom of their relationships with offshore and U.S.-based wagering companies that attract some of the game's biggest players through rebates of 10% or more on wagers.
Tuesday, November 12, 2002The topic of rebates, and whether they are good for the pari-mutuel industry, headed the opening day of the International Simulcasting Conference in Bal Harbour, Fla. Nearly 400 individuals representing more than 200 different organizations registered for the annual meeting.
Monday, September 23, 2002By Ray Paulick -- Rebate shops have been on the scene several years now, and it appears there has been limited success in slowing down their ability to recruit and retain some of horse racing's biggest gamblers.
Tuesday, July 30, 2002The California Marketing Committee, a group of the state's leading racing executives, established a rebate system March 1 that rewards patrons based on their play at California racetracks and offtrack facilities.
Thursday, March 08, 2001The top executive of an Idaho Indian casino says his business is not stealing high-stakes players from racetracks by offering rebates, and is considering suing three racing organizations for damages.
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