Spmos

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SPMOs Face Mandatory Certification

Regulators in 13 racing states announced Aug. 4 they will begin the lengthy process of requiring offshore wagering entities and secondary pari-mutuel operations -- commonly referred to as SPMOs -- to obtain certification from the Association of Racing Commissioners International before they receive approval to wager into pools.

Again, No Apparent Handle on Pari-Mutuel Handle

A two-hour discussion on account wagering and secondary pari-mutuel operations July 14 again revealed horsemen have knowledge of situations that suck revenue from purse accounts, but no definitive national strategy to recoup the money.

Horsemen Establish Wagering Operation in Nevada

The International Horsemen's Wagering Assurance Group, which intends to recapture pari-mutuel revenue and funnel it to horsemen, jockeys, and racetracks, announced it has officially opened a secondary pari-mutuel operation with a hub in Las Vegas and call center in Curacao.

RCI Circulating Draft of Model Wagering Rules

The Association of Racing Commissioners International is circulating a draft overhaul of model rules governing wagering that would require, among other things, validation of all wagers by the host racetrack and transparency of all wagering activity to regulators.

Breeders' Cup Urges Policy on Rebate Shops

Breeders' Cup, faced with a potential decline in handle for this year's World Thoroughbred Championships given the absence of secondary pari-mutuel operators from its pools, is calling for the industry to expedite a policy on rebate shops.

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.

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