Advance deposit wagering provider Xpressbet has reached an agreement with the French Pari Mutuel Urbain to offer its customers wagering access to French racetracks.
The partnership allows Xpressbet and the Guild to work side-by-side to provide racing fans unique access to many of the nation's most talented Thoroughbred and Quarter Horse riders.
Breeders' Cup and Xpressbet announced they have entered into a multi-year agreement which makes Xpressbet the official wagering partner of the World Championships and the title sponsor of the Breeders' Cup Sprint (gr. I).
Horsemen hashed out the issue of high-volume bettors and rebates Jan. 13, and in the process got a fairly detailed look at their impact on pari-mutuel Thoroughbred racing in the United States.
Unhappy with the lack of distribution for Magna Entertainment Corporation's Horse Racing Television signals from Santa Anita, Golden Gate Fields and Bay Meadows, California officials vowed Feb. 20 to address the issue when license renewals for the state's three approved account wagering services come up in December.
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.
A founder of Youbet.com who recently rejoined the pari-mutuel wagering network says the company's new management team is focusing on marketing, cooperative efforts with racetracks, and raising capital.
David Marshall has officially taken charge of Youbet.com, a California online horse racing and wagering service that he co-founded.
Ron Luniewski, the co-chief executive officer of Youbet.com, is resigning from the online horse racing wagering company to run Magna Entertainment's new XpressBet interactive wagering business.
Youbet.com has been licensed by the California Horse Racing Board to offer account-wagering services to residents of California, effective immediately. Meanwhile, through Feb. 18, account-wagering handle through two other systems topped $5 million in the Golden State.
With the California Horse Racing Board giving final approval last Friday to regulations for advance deposit wagering, Youbet.com is gearing up to begin taking wagers in the state once it is legal in January 2002.
Youbet.com's significant decreases in third quarter revenue and handle is being blamed on the weak economy and the aftermath of the Sept. 11 terrorist attacks in New York and Washington, D.C. Revenue fell 19% to $1.13 million for the third quarter ending Sept. 30, down from $1.39 million for the same period of 2000. Handle also dropped 16% to $18.8 million, down from $22.4 million a year ago.
Robert Fell has stepped down as chief executive officer of Youbet.com, an online horse racing and wagering company, and will be replaced by two men. Vice presidents Ronald Luniewski and Phillip C. Hermann will share CEO duties.
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