Twelve members of Congress have signed a letter delivered to the Department of Treasury requesting recently proposed IRS regulations relating to the way pari-mutuel winnings are calculated for tax withholding and reporting purposes be finalized.
Keeneland officials reported a spike in attendance for this year's Toyota Blue Grass Stakes (G2) card and cited improved on-track handle, although total pari-mutuel handle was slightly down.
The NTRA is continuing efforts to what it hopes will be a successful finish on new tax reporting and withholding rules while working with the industry to make sure it will quickly transition to the new rules.
The Department of Treasury and Internal Revenue Service took a big step toward changing rules on withholding and reporting in respect to pari-mutuel winnings Dec. 29.
Racing took full advantage of a five-weekend month of July but the gains in pari-mutuel handle and purses appear to go beyond kindness of the calendar.
Industry efforts to change how threshold levels for tax reporting and withholding on winning pari-mutuel wagers are defined continues to pick up momentum in Washington, D.C.
According to a wagering expert, the industry's embrace of computer-robotic wagering through the high rebates required to sustain these players has resulted in a less attractive game for all other horseplayers.
Mohaymen wins the Holy Bull in '16 bow and more inside the February 6, 2016 issue of Blood-Horse Magazine.
With one more month remaining in 2015, pari-mutuel wagering on U.S. races is up less than a percentage point compared with the first 11 months of 2014 but purses are down 1.68%.
Claiming Crown survived, and now thrives
A New York law banning racing and pari-mutuel wagering activities in the state on Palm Sunday, which dates back to the days when Richard Nixon was president, has been overturned.
The New York Racing Association reported record handle of $648,272,805 for its 2015 Saratoga Race Course meet that concluded Sept. 7, reflecting a 13.5% increase in all-source wagering activity compared with 2014.
The National Thoroughbred Racing Association continues to move forward on work to reform tax rules on withholding and reporting with respect to pari-mutuel winnings and is calling for industry support of these efforts.
The strongest effort yet to bring pari-mutuel wagering to Georgia stalled this week when a supporters couldn't secure the votes needed to advance this year's legislation.
While the amount of money wagered on each U.S. race increased in August, a decline in the number of races offered proved too steep a hurdle as total wagering declined 0.37% compared with August 2013.
The Global Gaming Almanac provides 746 pages of comprehensive, up-to-date market summaries, financial data, statistics, and profiles of properties, owners, and regulators for 215 international gaming jurisdictions.
The pari-mutuel model needs to be updated in order for horse racing to grow handle. read blog
The New York Racing Association posted a 2.3% average daily total handle gain for 2013. The increase follows a 2012 season during which NYRA posted sizable gains in all handle categories.
The Thoroughbred Racing Protective Bureau has secured widespread support for its new Tote Security System it will launch next month with plans for full implementation early next year.
Advance deposit wagering provider Xpressbet has reached an agreement with the French Pari Mutuel Urbain to offer its customers wagering access to French racetracks.
Gulfstream Park had all-sources handle of $1,986,428 for eight races June 25 as it held the first summer racing day in its 75-year history.
Two committees of the California Horse Racing Board will convene consecutively June 19 in the Sunset Room at Betfair Hollywood Park to address several matters of significance to the state's horse racing industry.
- By Tom LaMarra
Ramblings about pari-mutuel takeout rates, handle, slots, data, and whatever else. read blog
- By Tom LaMarra
Last year a door opened for the pari-mutuel industry, leading to an opportunity for racetracks to expand their gaming options and potentially boost revenue and purses read blog
Georgia voters won't get a chance to decide on pari-mutuel wagering during the November election but supporters say progress is made every year.
Three southeast Florida pari-mutuels are asking the Supreme Court of Florida to consider a review of a lower court's decision that authorizes Hialeah Park to have a casino with Las Vegas-style slot machines.
Another look at some of the issues of the day, post-Breeders' Cup. Read Blog
A bill was introduced in the U.S. House of Representatives April 28 that would eliminate the automatic 25% federal withholding on pari-mutuel winnings of $5,000 or more for bets that carry odds of 300-1 or higher.
Some Nevada casino racebooks are booking wagers on races from tracks affiliated with TrackNet Media Group after the content company recently cut off signals to the state over a contract dispute.
Despite comments from TrackNet Media Group that negotiations are "going backwards" over issues involving racing signals to Nevada racebooks, the player on the other side of the table offered guarded hope matters can be resolved before a Jan. 25 cut-off deadline.
- By Jim Freer
Wagering in Florida on Calder Race Course's recently concluded Tropical at Calder meet fell 31% in 2008, according to the Florida Division of Pari-Mutuel Wagering.
- By Ryan Conley
TrackNet Media Group has granted an extension of its racing signals to Nevada casinos following a meeting held Jan. 7.
- By Ryan Conley
TrackNet Media Group is poised to cut off its signals to more than 80 Nevada casinos Jan. 7 unless a new agreement is met for what the content company feels are more equitable fees.
The Florida Legislature ended its annual two-month session May 2 without passing two slot machine bills that were sought by the Thoroughbred industry.
While California horsemen fret over the risk of customer cannibalization as a result of account wagering, Woodbine Entertainment officials say they have found just the opposite to be true: Televised racing drives wagering.
The Virginia Racing Commission has become the third racing jurisdiction to join the North American Pari-Mutuel Regulators Association this year, and the 26th to join the organization since it formed in 1997.
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