pari-mutuel wagering

U.S. Wagering Holds Steady in August

Wagering on U.S. races held largely steady in comparison with 2021 figures, with year-to-date wagering reaching $8,604,332,789--up 0.24% from the 2021 figure of $8,583,460,027. During August, U.S. wagering was $1,194,876,167, a dip of 0.86% from last year's figure of $1,205,251,116. Through August, U.S. purses were $843,635,983, an increase of  12.29% from the corresponding 2021 figure of $751,274,418. During August, U.S purses were $130,206,874--up 3.66% from the August 2021 figure of $125,611,453. Comparing year-to-date figures from 2022 to 2020, wagering on U.S. races is up 17.76% and purses are up 62.57%....

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From the TIF: Cross Country Pick 5 Past Posting Exposes Tote Insecurities

"One of the most urgent issues facing our industry is that of improved electronic security for the pari-mutuel wagering system." This simple declaration was part of the National Thoroughbred Racing Association (NTRA)'s five-year strategic plan covering 2006 through 2010, and published in 2005. Approaching two decades later, there has been little progress on the topic, and recent wagering incidents in the summer of 2022 highlight the long-term failure to address these problems. If you think the stewards are always in charge of stopping wagering when the race begins, think again....

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Amid Massive Gaming Expansion, Where Does Racing Fit?

The ever-expanding business of betting in America is in a difficult-to-predict flux right now, and one entity's risk is another's potential reward. "The gaming industry, generally, and horse racing, as a part of that, is one of the most dynamic industries on the scene today," Patrick E. Brown, a New York-based attorney who specializes in gaming and public policy, told TDN in a phone interview. "There's the obvious increase in sports betting and fantasy wagering, plus new technologies and advances making it so easy to wager. It's also way more...

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Attorney Frank Becker on Texas, HISA Standoff

The simmering stand-off between the Texas Racing Commission and the powers behind the Horseracing Integrity and Safety Act (HISA) bubbled higher Monday, when the commission's executive director issued a letter warning Texas will prohibit the import and export of pari-mutuel simulcast signals at its racetracks if the Act goes into effect on July 1 with jurisdictional authority over the state's Thoroughbred racing operations. In the letter, Amy Cook, the Texas Racing Commission's executive director, invokes various statutes in the Interstate Horseracing Act, the Texas Racing Act and the Texas Rules...

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Bettor-Friendly Legislation Passes Kentucky Senate

By a vote of 33-1, the Kentucky State Senate has given their stamp of approval to Kentucky House Bill 607, which modernizes the taxation of pari-mutuel wagers and, in a major victory for horseplayers, eliminates the dime breakage than has been the standard for many years in favor of penny breakage. The change in the breakage will put more money into the pockets of horseplayers and is the first such measure to be introduced in the United States. The lone dissenting vote came from Republican Senator Whitney Westerfield. "For more...

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Pari-Mutuel Bill Approved by Kentucky House Committee

Kentucky House Bill 607, which contains a provision to greatly benefit horseplayers by effectively eliminating breakage, was overwhelmingly approved Wednesday morning by a Kentucky House of Representatives committee. HB 607 also standardizes the tax rate on all pari-mutuel wagers placed in Kentucky and also makes claiming races eligible for Kentucky-bred purse subsidies. The bill must still be approved by the full House before being sent to the Senate. Representative Adam Koenig, whose district in Northern Kentucky is near Turfway Park, is a primary sponsor of the bill, which also has...

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HBPA Panel on Fixed Odds: Future of Wagering

HOT SPRINGS, Ark.--Dave Basler sees betting on table tennis in Asia and envisions it being replaced with horse racing in America's burgeoning sports books. "We can fill that void a lot of times during the day so that they don't have to play table tennis from China or cricket from Australia--things that people have no idea about," Basler, the executive director of the Ohio HBPA, said Thursday during a morning session of the National HBPA Conference at Oaklawn Racing Casino Resort. "That's not just attractive to sports books, that's attractive...

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Wagering Figures Up from 2020

Wagering on U.S. races through the first eight months of the year is up 17.51% over the same period in 2020, with $8,585,662,502 wagered on races in the country through August compared to $7,306,542,949 in 2020, according to figures released Sunday by Equibase. Purses rose 44.77%, from $518,929,044 in 2020 to $751,230,068 this year, while race dates increased from 2,144 to 2,781 and number of races increased from 17,794 to 22,862. During the month of August, a total of $1,206,119,197 was wagered on 455 race days and 3,539 races in...

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Gov. Murphy Signs Bill Approving Fixed Odds at Monmouth

Fixed Odds wagering will be available at Monmouth Park in the coming weeks after Gov. Philip Murphy signed legislation Thursday approving the new bet, with implementation awaiting regulatory approval from the New Jersey Racing Commission and the Division of Gaming Enforcement. Monmouth Park, working in conjunction with BetMakers Technology Group, will be the first racetrack in the country to offer Fixed Odds wagering, a popular bet in Europe and Australia. "We appreciate the continued support from Gov. Murphy and the state legislature, as well as Assembly Speaker Craig Coughlin and...

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Fixed-Odds Wagering Bill Passes in NJ, Expected to Begin Haskell Day

A bill legalizing fixed-odds wagering on horse races was passed unanimously by both houses in New Jersey and will now go to Governor Phil Murphy, who is expected to sign it. Expectations are that fixed odds betting will begin July 17, the day of the GI TVG.com Haskell S. at Monmouth Park. "We've been pushing hard to get it up and running by the Haskell," said Dallas Baker, the head of international operations for the Australian firm BetMakers, which will operate the fixed- odds betting. "That's always been our goal....

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Claiming Period to Cash Tickets in NJ Extended

The claiming period for pari-mutuel tickets and vouchers has been extended from six months to 12 months in the state of New Jersey thanks to a bill enacted by the New Jersey State Legislature and signed into law by Governor Phil Murphy May 11. "We appreciate the continued support that Gov. Murphy and our state legislators have shown for horse racing throughout the state," said Dennis Drazin, Chairman and CEO of Darby Development, LLC, the operators of Monmouth Park. "This legislation provides a much-need grace period for people who were...

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Slight Delay in HHR Bill's Signage; 'Extension Facility' Greenlighted for Kentucky Downs

Kentucky Governor Andy Beshear on Tuesday reaffirmed his vow to sign the historical horse race (HHR) gaming bill that passed both chambers of the state legislature last week, but he explained that a decision by the Senate to adjourn through this week means that the HHR-enabling measure won't become law until the end of the month at the earliest. Beshear's remarks came via videoconference at the start of the Feb. 16 KHRC meeting. After the governor spoke, commissioners unanimously voted in a series of "emergency" measures contingent on the bill...

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