Youbet.com directed more criticism at the controversial content alliance of Churchill Downs and Magna Entertainment May 8, with one executive telling analysts during an earnings conference that the partners in TrackNet Media Group "ended up shooting not only themselves, but an entire industry."
By T.D. Thornton -- North American racing has a widely acknowledged economics problem. Its chief funding mechanism, pari-mutuel wagering, is failing after serving the sport well for decades. What was once an efficient method of extruding profits is now an anachronism whose constraints are choking back betting growth.
Portland Meadows has expanded its Dec. 19 program and will offer two guaranteed pick four wagers each worth $15,000.
The National Thoroughbred Racing Association (NTRA) and Equibase Company released the "Thoroughbred Racing Economic Indicators" for United States and Canadian pari-mutuel wagering on U.S. Thoroughbred racing during the first quarter of 2006, as well as for U.S. purses and race days, with prior-year, first-quarter comparisons.
Youbet.com, Inc., announced Monday that it completed its previously announced acquisition of privately-held United Tote Company for approximately $31.9 million, which is $2 million less than the previously announced purchase price.
The Board of Directors of Racing Commissioners International voted Wednesday to partner with some of the leading technology suppliers for independent monitoring systems to provide a national monitoring service and database for pari-mutuel wagering.
Emerald Downs will become the first Thoroughbred track in the United States to conduct common pool pari-mutuel wagering with Canada on Thursday evening.
TVG Network processed $114 million in wagers during the second quarter, marking the first time that quarterly wagering went over the $100 million mark and resulting in a 29% increase in wagering over the second quarter of 2004.
In an effort to provide its fans with the most attractive wagering program, officials of Breeders' Cup Limited and the National Thoroughbred Racing Association announced Thursday that, for the first time, the complete race order for the 22nd Breeders' Cup World Thoroughbred Championships, will be announced on Wednesday, Oct. 19, when the Pre-Entered fields for all eight races are released.
Woodbine Entertainment Group announced July 2 that Canadian wagers on Balmoral Park, a Chicago-based harness track, will for the first time be combined with the U.S. host track's pools, giving customers in both countries the same winning payout prices.
Bettors will be able to wager as little as 10 cents on superfectas during the upcoming Keeneland spring race meeting that opens April 8. The dime option will be available on all races in which a superfecta wager is offered. Previously, Keeneland's superfecta minimum was $1.
After years of promises and disappointments, true two-way interactivity for horse-race wagering will reach 10 million TV sets nationwide this month through the Dish Network's launch March 2 of the TVG Interactive Horseracing channel.
AmericaTab followed the success of its first Players' Pool on the Breeders' Cup Ultra Pick 6 with its second hit in a month. Bettors had one winning pick six ticket and 28 consolation tickets Nov. 28 at Hollywood Park.
More people connected with racehorses in Great Britain will be banned from betting them to lose effective Dec. 1, the British Jockey Club has ruled.
Keeneland will implement several changes to its wagering menu this fall. There will be a guaranteed Pick Four, lower takeout on all Pick Three, Pick Four and Pick Six wagers and changes to the Pick Three rules.
The U.S. Senate passed an international tax bill that includes two provisions that are favorable for the horse industry. The first is the clarification that the 30% alien withholding provision does not apply to nonresident aliens wagering in foreign countries; the second is a reduction in the holding period for horses to qualify for capitol gains treatment from 24 months to 12 months.
Total wagering on the 130th Kentucky Derby and the Derby Day racing card at Churchill Downs smashed North American records for total betting on an individual event and a single day of races that had been established in the 2003 renewal of the famed "Run for the Roses."
Sunland Park set a single day handle record Feb. 3, when more than $2 million was wagered at the New Mexico racetrack.
- By Ray Paulick
By 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.
Creators of the Casino and Gaming Television Network are betting a national interest in gambling will translate into a desire to watch it on television.
Total wagering during the third quarter of the year increased to $4,007,591,917, a growth of 3.38% over the same quarter last year. Third-quarter purses dipped 4.15%, to $306,800,417. Compared with third-quarter 2002, racing days declined slightly, with a total of 16 fewer days.
In 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.
Wagering in North America during the second quarter of the year increased 2.52% over the corresponding period in 2002. But, while there were 32 more racing days, purses dropped 1%.
The total amount of money wagered on races at the recently concluded 10-day San Joaquin County Fair meet at Stockton, Calif. increased 10% to a record $16.95 million, officials reported.
Belmont Day at New York City Off-Track Betting facilities set a record for the highest Belmont Day handle in the corporation's 32-year history. NYCOTB patrons wagered $8,456,289.
A single-day on-track Belmont Stakes day wagering record was established Saturday at Belmont Park before the second largest crowd in the track's history, 101,864, and steady rainfall for the 135th running of the Test of the Champion.
Magna Entertainment Corp. has plans for new pari-mutuel wagering machines designed to make betting easier for first-timers, officials said May 1 during a press conference after the company's annual meeting.
Churchill Downs will offer all-stakes Pick Four wagers with combined guaranteed pools of $1 million on next week's racing programs for the 129th renewals of the Kentucky Derby and Kentucky Oaks.
Purses at Thoroughbred tracks in the U.S. increased by 4.3% in the first quarter of 2003, despite a 1.2% drop in pari-mutuel handle, according to statistics released April 4 by Equibase and the National Thoroughbred Racing Association.
In order to allow the posted odds to most accurately reflect the closing price, wagering during Keeneland's upcoming spring meeting will close as the first horse enters the starting gate.
A principal in a company that develops software for betting-exchange wagering said North America has the structure in place to make it benefit the horse racing industry.
The National Horsemen's Benevolent and Protective Association, in a white paper on simulcasting, has called for tighter security in the export of signals as well as a review of domestic and international wagering hubs.
Bettors on May 16-17 will be able to play the new "head-to-head wager" that debuted at the Breeders' Cup World Thoroughbred Championships. The wager will be offered on the Preakness Stakes, Black-Eyed Susan Stakes, Pimlico Special, and other stakes at Pimlico Race Course those two days.
The investigation into the Breeders' Cup Ultra Pick 6 fraud has triggered an industry-wide review of pari-mutuel systems and tote security, but the negative publicity hasn't doomed the pick six or chased away sponsors.
The Wagering Technology working group formed by the National Thoroughbred Racing Association plans to meet again Jan. 9 to discuss the pari-mutuel review triggered by the Breeders' Cup Ultra Pick 6 investigation.
The release of money to holders of Breeders' Cup Ultra Pick 6 consolation tickets remains on hold, with no definitive date for resolution in sight.
The Kentucky Racing Commission will begin a review of all policies and procedures related to pari-mutuel wagering, commission chairman Frank Shoop announced Dec. 4. The action stems from the recent Breeders' Cup Ultra Pick 6 investigation and the review being conducted by the National Thoroughbred Racing Association.
Turfway Park, which began implementing measures designed to improve wagering security and increase customer confidence in mid-November, will adopt new wagering policies beginning Dec. 1, opening day of its holiday meet.
Racing associations are scheduled to meet with the Canadian Pari-Mutuel Agency in Ottawa, Ontario, Nov. 15, to discuss a CPMA directive that has led to the suspension of pick six, pick four, and superfecta wagering until further notice.
The NTRA's wagering technology working group on Friday called for three intitial, concrete steps to improve electronic wagering security in an effort to increase customer confidence. The steps will be implemented immediately by Churchill Downs, Magna Entertainment, and the New York Racing Association, as well as by the three largest totalisator companies. Other racetracks and off-track wagering operators were expected to sign on as well.
The Wagering Technology working group formed by the National Thoroughbred Racing Association met for the first time Nov. 4. In addition, more members were named.
As expected, the National Thoroughbred Racing Association has formed a "wagering technology" working group, or task force, to review pari-mutuel computer security and ensure integrity in the system.
The National Thoroughbred Racing Association (NTRA) and Equibase Company LLC today unveiled a new, quarterly industry report from Equibase, "Thoroughbred Racing Economic Indicators," that covers total wagering in the United States and Canada on U.S. races, purses and race days with prior-year comparisons.
By T. D. Thornton -- News broke in August about the proposed Equibase plan to propel the sport into the future with real-time tracking of horses, merging tradition with technology. Good luck Equibase. I'm confident you have the horse, but not entirely certain you'll find an industry eager to bankroll the bet.
California officials are considering a wager that taps into the bettor's natural inclination to "beat the favorite."
Street Cry, Azeri, and Officer and Swept Overboard were the favorites for their respective races after the first day of betting for the Breeders' Cup World Thoroughbred Championships Future Wager.
With only $1 million in the pool, War Emblem is even money with those on hand at Belmont Park to complete the Triple Crown. Of course, there is still an hour until the first race on the Belmont Stakes Day card.
Although totals are not complete, wagering on the 2002 Kentucky Derby will establish betting records for both the race and the overall Derby Day card. A total of $79,094,806 was wagered on the Kentucky Derby, with overall betting on the entire 11-race card at
With 90 minutes until post time of the Kentucky Derby (gr. I), Saarland is the 6-1 favorite. Saarland was 15-1 in the morning line.
Considering the entrenched and antagonistic stances, the April 17 agreement for the right of the main British bookmakers to bet on British racing beginning May 1 was remarkable.
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