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Account-Bet Dispute Addressed; Signal Available

The Ohio Horsemen's Benevolent and Protective Association has indicated Thistledown is authorized to send its signal to Youbet.com, but the California account wagering company has indicated it may not be willing to offer the signal.

Franklin Named President of Youbet Online Services

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Youbet.com has named Jeff Franklin, 53, the company's long-time product development and player services leader, to the newly created position of president of Youbet online services, the company's online pari-mutuel wagering unit. The announcement of Franklin's promotion was made by Youbet CEO Charles Champion.

Account-Bet Dispute Continues; Hawthorne Signal in Jeopardy

Churchill Downs Inc. exercised its contractual rights in regard to an account wagering dispute in Illinois by revoking permission for TVG sub-licensees to take bets on the Arlington Park signal, a company official said a day after the Arlington meet ended. Meanwhile, it remains unclear whether the Hawthorne Race Course signal would be available through TVG or other account wagering outlets.

Account-Bet Licensing Fees Fuel Illinois Dispute

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A simmering dispute over licensing fees tied to account wagering has flared up in Illinois, where horsemen have pulled the Arlington Park signal from TVG in an attempt to get the signal from the upcoming meet at Hawthorne Race Course available through Youbet.com.

Youbet .com Reports Strong Gain in Net Income

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On the heels of increased revenue growth from International Racing Group, Youbet.com reported a record second-quarter net income of $2.2 million for the period that ended June 30. The figure is up from $1.3 million in the second quarter of 2005.

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.

Lawmaker Says Youbet.com Violating Cease-and-Desist Orders

Youbet.com, the online wagering company headquartered in California, plans to review statements given by Rep. John Conyers Jr. of Michigan during the May 2 U.S. House of Representatives Judiciary Committee hearing at which the Democratic Congressman said the company is operating despite a cease-and-desist order from the office of the U.S. attorney general.

Youbet.com Reports Handle Increase Preakness Day

Youbet.com handled $4.2 million Preakness Stakes (gr. I) day to top last year's same day handle by 18.5%. The May 20 figure is the second-highest in the history of the account wagering service.

Youbet.com Sets New Handle Record on Derby Day

Youbet.com, the online wagering company with headquarters in Southern California, handled $5.6 million Kentucky Derby day, May 6, an increase of 34% from 2005 and the highest one-day amount in the history of the company.

RCI Integrity Services: Taking the Lead

The Racing Commissioners International (RCI) is taking an industry leading position with their subsidiary RCI Integrity Services. The push forward was made during the 72nd annual convention of the RCI that is taking place at the Hyatt Regency Tamaya Resort near Albuquerque, N.M.

Youbet Chairman Discusses Launch of Youbet.net

Chuck Champion, president and CEO of Youbet.com discussed the launch of a new Web site, Youbet.net, Wednesday afternoon during the annual convention of the Association of Racing Commissioners International. Youbet.net will be a learning site for new players to learn more about pari-mutuel wagering.

Youbet.com Announces Management Changes

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In management changes announced by Youbet.com, Joe Tracy will head a new subsidiary that will develop technology-based games, products, and services, while Jeff True will serve as president of United Tote, which Youbet.com acquired earlier this year.

NTWA and Youbet.com Offer Journalism Scholarships

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The Race for Education announced that students have until March 31 to apply for four National Turf Writers/Youbet.com Journalism Scholarships to be awarded this spring. Undergraduate or graduate students may apply for the annual grants, which provide $10,000 per year for up to four academic years.

California Ponders Offshore Betting Options

Frustrated with the lack of federal prosecution of illegal offshore gambling operations, the California Horse Racing Board is considering action to curtail the advertising and promotion of such activity by publications and broadcasters.

Youbet.com Has Deal to Buy Tote Company

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Youbet.com, which earlier this year purchased an offshore wagering company, has entered into an agreement to purchase United Tote for $49 million, the company announced Dec. 1. United Tote supplies tote services to more than 90 pari-mutuel facilities in North America.

High-Volume Shop Licensed by Oregon Regulators

International Racing Group, a rebate shop located in Curacao but owned and operated by United States-based Youbet.com, was licensed by the Oregon Racing Commission Nov. 2, and is the first such entity to be licensed by U.S. regulators.

Ohio HBPA Strikes Account Wagering Deals

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The Ohio Horsemen's Benevolent and Protective Association has approved the transmission of Thoroughbred signals from Ohio to the TV Games Network and XpressBet, and also approved the sending of the signal from Thistledown to Youbet.com. However, it has failed strike a deal with AmericaTAB, the account-wagering company owned by Ohio interests.

True Named Vice President of Youbet.com

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Jeff True, Western region general manager for Youbet.com, has been named a vice president of the company. He will continue with his current duties but also head promotion and partner development programs.

Youbet.com Handle Up 33% on Belmont Day

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Youbet.com, the California-based online wagering service, handled $3.4 million June 11, Belmont Stakes (gr. I) day, to bring its three-day Triple Crown total to $9.5 million. In 2003, the last time Youbet.com offered wagering on the Kentucky Derby (gr. I), Preakness Stakes (gr. I), and Belmont, total handle was $6.5 million, the company said.

Youbet Shareholders Elect Donn, Liebau as Directors

Youbet.com shareholders have elected R. Douglas Donn, former CEO of Gulfstream Park Racing Association, and F. Jack Liebau, president of Bay Meadows Racing Association, to serve on the company's board of directors. The two racing executives were elected at the Youbet.com annual shareholders meeting last week.

Youbet.com Purchases Offshore Wagering Company

Youbet.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.

Youbet.com Preakness Day Handle Up 75%

Youbet.com handled more than $3.5 million on Preakness day, May 21, up 75% from the $2 million wagered on the same day in 2003, the last year the online wagering service offered the race.

Youbet.com Has Strong Quarter; Eyes Expansion

Youbet.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.

Licht Joins Youbet.com's Compliance Committee

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Youbet.com, Inc. announced Monday that Roger H. Licht, former chairman of the California Horse Racing Board and a prominent horse racing legal expert, has agreed to become a member of the company's independent wagering compliance committee.

Oregon Hub Handle Up $53 Million in 2004

Five account-wagering hubs in Oregon handled a total of $883 million last year, up about 6% from the 2003 figure. Meanwhile, fourth-quarter handle for 2004 was down slightly from the same period in 2003, according to Oregon Racing Commission statistics.

Youbet.com Wants to Buy High-Volume Shop

Youbet.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.

Powell to Leave RCI for Post at Youbet.com

Lonny Powell, president of the Association of Racing Commissioners International, will leave the post Feb. 1, 2005, to take a job with Youbet.com as vice president of public affairs. He also will oversee the online wagering company's activities in the central region of the United States.

Youbet.com Continues to Ride Growth Trend

Youbet.com, the online wagering company based in California, continued its growth trend in the third quarter of 2004 with income of $791,085, compared with a loss of $617,853 for the same period in 2003.

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