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Account Wagering a Work in Progress, Officials Say

  • News

More than $14.5 million has been wagered through California's advance deposit wagering system in the first two months of operation, or about 3.5% of total handle. But while account wagering services had a burst of activity, officials said they were concerned about the leveling off of wagering and the number of new account holders over the past four weeks.

Youbet.com Management Outlines New Focus

A founder of Youbet.com who recently rejoined the pari-mutuel wagering network says the company's new management team is focusing on marketing, cooperative efforts with racetracks, and raising capital.

TVG Announces Handicapping Game

TVG announced the launch of Exactamundo, a handicapping game that rewards TVG account holders for selecting the correct exacta in TVG's weekly Saturday Spotlight Race.

Dubai World Cup to Air on TVG

TVG has announced it would offer exclusive live U.S. television coverage as well as in-home wagering on the $6-million Dubai World Cup (UAE-I) from Nad Al Sheba Racecourse in Dubai, U.A.E. on Saturday.

Stock Plunges for TVG's Parent Company

Gemstar-TV Guide stock plummeted Tuesday morning on the heels of poor fourth quarter and year-end results. As of 3 p.m., the parent company of the TV Games horse racing network was down $4.21 to $17.52, a drop of 19.4%.

TVG To Show Barretts Works

TVG will air the preview works from the Barretts Selected 2-year-olds sale from Fairplex Park in Pomona, Calif. The show will air Feb. 28 for one hour beginning at 11:00 a.m. The sale will be held March 5.

Youbet Joins Stable; Account-Bet Handle Tops $5M

  • News

Youbet.com has been licensed by the California Horse Racing Board to offer account-wagering services to residents of California, effective immediately. Meanwhile, through Feb. 18, account-wagering handle through two other systems topped $5 million in the Golden State.

Barretts Preview to Air on TVG

Barretts Equine Limited and the TVG Network have announced that a replay of Barretts' Feb. 25 video preview will be broadcast on TVG on Thursday, Feb. 28 from 8 -9 a.m. (PST; 11-12 EST).

TOC: Some NTRA Money Should Go to Purses

The Thoroughbred Owners of California is using a deal with Magna Entertainment as leverage in an attempt to garner a greater share of pari-mutuel takeout from account wagers made through the TV Games Network. In question is a share of the money TVG pays to the National Thoroughbred Racing Association.

TVG Chief Pleased With Early California Account Wagering Figures

Despite not being able to take bets on the two California Thoroughbred tracks currently operating, the Television Games Network said it is running neck and neck with competing account wagering entity XpressBet on total telephone and Internet handle for the first 12 days of legal advance deposit wagering (ADW) by California residents.

By All Accounts

By Ray Paulick -- Concern for the racing fan and the industry doesn't appear to be driving some of the decisions regarding account wagering in California.

TOC Chairman: Deal is a 'Critical Benchmark'

In an open letter to the California Thoroughbred industry, Thoroughbred Owners of California chairman Jack Owens said the organization has taken its "stewardship role very seriously" in regard to account wagering, and said its agreement with Magna Entertainment is a "critical benchmark" for negotiations with other companies.

Oaklawn Kicks Off 54-Day Meet

Oaklawn Park raises the curtain on its 54-day meet Friday in the heart of Hot Springs National Park in Arkansas. The oval first saw racing in 1905.

A New Beginning for California Racing?

  • News

The California Horse Racing Board has granted licenses to two companies to offer account wagering effective immediately, and betting will begin. But the licenses are time-sensitive, and some deals with horsemen remain in limbo.

Adelphia to Launch TVG in California

TVG, the 24-hour interactive horse racing network, announced Wednesday its television network will be included in the digital cable television service for select Los Angeles area cable systems owned and operated by Adelphia Communications.

Statements from California Account Wagering License Applicants

At the invitation of The Blood-Horse, each of the four license applicants seeking to offer Advance Deposit Wagering in California was asked to provide a brief statement concerning their applications. With the exception of Youbet.com, which declined to submit a statement, the responses can be viewed at the following links.

TVG's Statement on Advance Deposit Wagering in California

  • News

Applications from four companies seeking to offer Advance Deposit Wagering, or account wagering, in California will be considered by the California Horse Racing Board Thursday, Jan. 24. The regulations were approved by the state last Friday, allowing the CHRB to proceed with consideration of the applications from Autotote Enterprises Inc., Magna Entertainment Corporation, ODS Technologies (TVG), and Youbet.com. At the invitation of The Blood-Horse, each of the four license applicants was asked to provide a brief statement concerning their proposal for account wagering in California. Here is the response from ODS Technologies' TVG operation.

The Endless Fight

By Ray Paulick -- TVG isn't the only one getting hurt by the impasse with Magna over account wagering in California.

TVG-Magna Negotiations at Impasse Over Exclusive Contracts

Talks between Magna Entertainment and the TV Games Network are over, according to TVG president Mark Wilson, who has been negotiating with Magna chief executive officer James McAlpine in hopes of striking a deal to bring Santa Anita, Gulfstream Park, and other Magna tracks to TVG's racing and wagering network.

Exclusivity: Racing Industry Debate Continues

The majority owner of a growing account-wagering service based in Ohio said exclusive contracts that govern betting could cripple the pari-mutuel industry at a time when it is poised for explosive growth. The comments came on the heels of a spirited debate between the TV Games Network and Magna Entertainment over exclusivity, an issue that won't go away.

Hurdles Remain for California Account Wagering

  • News

The clock ticks for the arrival of account wagering in California, and it may keep ticking well into the new year. The earliest the state's racing fans can expect to be able to open accounts and begin telephone or Internet wagering is mid-February 2002, but depending on how well the regulatory review process goes, wagering might not occur until some time in May.

TVG's Wilson Responds to Comments by Magna's McAlpine

  • News

Mark Wilson, president and CEO of TVG, has issued a lengthy statement in response to widely-reported comments made by Jim McAlpine, President and CEO of Magna Entertainment Corporation, at the University of Arizona's Race Track Industry Program's "Symposium on Racing."

McAlpine Challenges Industry, TVG to Embrace Free Enterprise

Magna Entertainment president Jim McAlpine told racing industry leaders Thursday that their best chance to compete against Las Vegas and Disney, which he says are horse racing's true competitors, is by making industrywide deregulation and the adoption of free enterprise a top priority. And as Magna prepares to launch its own online and telephone account wagering service in California, McAlpine urged TVG to abandon its exclusive contracts with racetracks and merge its content with Magna's tracks and others.

McAlpine Challenges Industry, TVG to Embrace Free Enterprise

Magna Entertainment president Jim McAlpine told racing industry leaders Thursday that their best chance to compete against Las Vegas and Disney, which he says are horse racing's true competitors, is by making industrywide deregulation and the adoption of free enterprise a top priority.

TVG Preparing for California Market

  • News

When California introduces account wagering, the TV Games Network will be ready for a full assault. Perhaps the last great frontier for the home-wagering revolution, the Golden State represents a golden opportunity for TVG when advance-deposit wagering becomes legal in the state Jan. 1, 2002.

Fell Steps Down As Youbet.com CEO

Robert Fell has stepped down as chief executive officer of Youbet.com, an online horse racing and wagering company, and will be replaced by two men. Vice presidents Ronald Luniewski and Phillip C. Hermann will share CEO duties.

TVG Hub Handle Tops $12M for Quarter

Handle through the TV Games Network's Oregon hub was $12,414,106 for the third quarter of 2001, almost triple the amount wagered during the third quarter of 2000 but down slightly from the second quarter of 2001.

Racing Industry Reacts to 'Unprecedented Tragedy'

Thoroughbred racing and simulcasting at major locations in the United States shut down Tuesday due to the terrorist attacks in New York and Washington, D.C. Many also planned to close Wednesday. The commissioner of the National Thoroughbred Racing Association said it could take a while "to sort out the implications for the country, as well as our business."

Youbet Opens Oregon Hub, Adjusts Price for Users

Youbet.com today announced the opening of its new Oregon wagering hub. The new hub allows Youbet.com customers access to racetracks previously available only through the TV Games Network. Along with the new hub, Youbet has adjusted its price. The service now charges a fee per transaction instead of a monthly fee.

Oregon Hub Handle Tops $13M for Quarter

The Oregon wagering hub first operated by NTRA Services and now in the hands of the TV Games Network handled $13,033,508 for the second quarter of this year, more than double the first-quarter handle and by far its best three months ever.

TVG, Horsemen Work on Purse Protection

As the California horse racing industry awaited action by Gov. Gray Davis on account wagering legislation, the TV Games Network and Thoroughbred Owners of California announced they had reached an agreement in principle to protect purses should live handle be negatively impacted by account betting.

Keeneland Not Immune From Simulcast Decline

Simulcast handle at most Kentucky racetracks has fallen or remained static in each of the past several years. An exception has been Keeneland, which experienced nine consecutive years of growth through 2000, when the amount wagered on simulcasts topped a record $104 million.

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