Social media was called the biggest opportunity for horse racing to develop new players, but it needs to be handled in a strategic manner, panelists said Dec. 8 at the University of Arizona Symposium on Racing & Gaming.
Trainer Ken McPeek and his wife Sue are in the process of developing a horse racing mobile application for iPhones and the Android that will funnel some revenues into purses.
Prairie Meadows Racetrack and Casino and the Iowa Horsemen's Benevolent and Protective Association have announced they are collaborating on the development of the state's first legal online wagering platform.
- By Ryan Conley
Youbet.com reported a decline in overall handle and increase in total revenue for the third quarter of 2007, but a related earnings conference call with analysts Nov. 7 was punctuated by discussion of the federal investigation involving the company's off-shore entity, International Racing Group.
The Thoroughbred Owners and Breeders Association announced that Youbet.com will be the presenting sponsor of the 2007 TOBA National Awards Dinner scheduled for Sept. 8 at Hill 'n' Dale Farms near Lexington. This marks the second consecutive year that Youbet.com has been the presenting sponsor of the event.
Account wagering provider Youbet.com said it applauds the partnership between Churchill Downs Inc. and Magna Entertainment Corp. because it should assist in wagering growth.
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.
Some of the most prominent online betting companies have decided to apply the Racing Trust Mark to support authorized betting and rule-based trade in the horseracing product.
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.
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.
- By Tom LaMarra
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.
Youbet.com turned a profit for the first time in its history during the first quarter of 2004. The account-wagering company, which lost $1.2 million during the first quarter of 2003, had a net profit of $15,111 during this year's corresponding session.
Youbet.com reported Thursday the fourth quarter of 2003 provided the eight straight quarter of net revenue growth for the company, though it continues to operate at a loss. Youbet also generated year-over-year increases in handle, net revenue, and earnings before taxes, depreciation, and amortization (EBITDA).
Youbet.comcontinued strong gains in its online horse race wagering business during the third quarter of 2003, marking the sixth consecutive quarter in which the company has produced net revenue growth. Youbet also said it substantially increased operating capacity during the quarter.
- By Victor Ryan
Youbet.com is poised to launch portable betting in the fourth quarter of 2003 through wireless technology such as java-enabled cell phones and handheld personal computers.
Youbet.com, Inc., the online live event and wagering company, announced Thursday that first quarter 2003 marked the company's fourth consecutive quarter of record growth.
Youbet.com will award "promotional credits" to settle a dispute with players who had winning trifecta bets from the April 12 Wood Memorial deducted from their accounts due to a tote system snafu.
Youbet.com, Inc. announced Monday that in the fourth quarter of 2002, the company produced the first cash flow positive quarter as measured by EBITDA in the seven-year history of the company.
A record $46.3 million was wagered through Youbet.com Inc. during the third quarter ended September 30, helping to narrow the online wagering company's overall losses to $2.1 million.
Youbet.com Inc. has formed a trust account with Comerica Bank to alleviate concerns about the vulnerability of customer funds on online wagering sites.
Youbet.com will begin charging a subscription fee to some of its customers within the next 30 days, chief executive officer Chuck Champion said on Tuesday.
Youbet.com president Charles Champion has been promoted to chief executive officer of the online racing and wagering company effective immediately.
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