Advance Deposit Wagering

News, Articles, Videos and other content about Advance Deposit Wagering

No Deal Yet Between Calder, Horsemen

  • News
No Deal Yet Between Calder, Horsemen

Florida horsemen and officials at Calder Race Course and parent company Churchill Downs Inc. met April 14 but did not agree on contracts for the Calder meet that begins April 21.

CDI: 2007 Challenges, 2008 Opportunities

CDI: 2007 Challenges, 2008 Opportunities

Churchill Downs Inc. is asking for patience in seeing financial rewards from what it termed an $80 million investment into the advance deposit wagering industry in 2007, and promises to act on opportunities for the company's progress in 2008.

Role of TV in ADW to Be Examined

The impact of television on account wagering will be watched closely during an experiment in California that began Nov. 7 with the opening of Golden Gate Fields and Hollywood Park.

Youbet.com Subject of Virginia Licensing Lawsuit

Colonial Downs and Virginia horsemen have filed a lawsuit claiming Youbet.com is operating illegally without a license in the commonwealth, and want the advance deposit wagering company to pay back hundreds of thousands of dollars in lost source-market fees.

Agenda Set for Jockey Club Round Table

  • News
Agenda Set for Jockey Club Round Table

Medication, equine health, and the impact advance deposit wagering has on the economics of racing will share the spotlight when The Jockey Club hosts its 55th annual Round Table Conference on Matters Pertaining to Racing Aug. 19 at the Gideon Putnam Resort and Spa in Saratoga Springs, N.Y.

Officials: CDI Purchases Won't Impact Customers

Churchill Downs Inc. has acquired certain assets of AmericaTAB, Bloodstock Research Information Services, and the Thoroughbred Sports Network, but officials with the Louisville, Ky.-based company said it will be business as usual at the outset.

Account-Bet Dispute Lingers; CHRB May Act

The simmering dispute between the organization representing California's horse owners and the racing television and wagering network TVG appeared unlikely to be resolved heading into the Oct. 26 meeting of the California Horse Racing Board.

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.

Ohio HBPA Strikes Account Wagering Deals

  • News

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.

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.

Wine Ruling Could Impact Account Wagering

A United States Supreme Court ruling that overturned Michigan and New York laws that keep wine produced out of state from being shipped to in-state customers could have implications for account wagering, a National Thoroughbred Racing Association official said.

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.

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.

TVG Unveils New Graphics, Says Audience Up

TV Games Network rolled out new graphics and features, which began appearing in conjunction with the opening of Hollywood Park's spring/summer season, at the April 22 California Horse Racing Board meeting. It also announced an increase in the number of viewers and a slight shift toward experienced racing fans.

Washington Passes Account Wagering Bill

A bill that would allow account wagering by residents of Washington State passed the state's House of Representatives on March 4 79-17 and yesterday passed the Senate 38-10. Senate Bill 6281 now heads to Gov. Gary Locke for his signature.

Cox Cable to Carry TVG

  • News

The Television Games Network (TVG) announced today it has reached a multi-year agreement with Atlanta-based Cox Communications, Inc. to carry the 24-hour horseracing and interactive waging network.

California Board Cuts Off Signals to Idaho Casino

California regulators, in an effort to stop out-of-state account wagering operators from taking bets from state residents, have excluded the Coeur d'Alene Casino in Idaho from importing upcoming meets at Bay Meadows and Hollywood Park. The manager of the casino said the situation would be resolved.

Magna Introduces 'Betty' to XpressBet Customers

XpressBet Betty, the English-only voice recognition system, is the latest innovation in home account-wagering technology from Magna Entertainment Corp. It allows phone bettors to place wagers by simply speaking, and works without need of a live operator.

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.

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.

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.

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.

Magna Entertainment'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 Magna Entertainment:

Autotote'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 Autotote Enterprises:

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.

California Governor Considers Racing Bill

California Gov. Gray Davis is a pro-labor Democrat who has spoken out in opposition to the expansion of gambling in his state. That's why a bill passed in the waning hours of the 2000 California legislative session poses something of a dilemma to the first-term governor.

Assembly Passes California Account Wagering Bill

The nation's most populous state is one step closer to offering account wagering. In the waning hours of the 2000 legislative session on Thursday night, the California Assembly voted 56-6 in favor of a compromise bill permitting what it calls "advance deposit wagering" for pari-mutuel racing but also requiring backstretch reforms that could result in labor unions being represented among stable workers. Read the full text of the bill here.

Most Popular Stories