wagering

The version of President Donald Trump's "Big Beautiful Bill" passed by the Senate earlier this week contains a tax provision that could prove prohibitive to gamblers, with ramifications for horse racing's bottom line. In the Senate's version of the bill, deductions for gambling winnings will be limited to 90% of annual losses. Currently, gamblers can deduct 100% of wagering losses (below a net profit) for any given year. As NBC Sports describes it, "$100,000 in winnings against $100,000 in losses will be treated for tax purposes as if the losses...

Last week, economics professors Marshall Gramm and Nick McKinney published a study in these pages showing the impacts at Aqueduct the past four winters from CAW players during the last flash across all the pools. According to that study, the percentage share from CAW players of monies wagered last-minute into the Exacta, Trifecta, Superfecta and Early Pick 5 pools (among others) had jumped significantly between 2022 and 2024. In light of that published study, the New York Racing Association (NYRA) has issued a statement explaining that, in the fall of...

TwinSpires.com will hold an inaugural Royal Ascot Challenge Series, which will offer horseplayers opportunities to compete for cash prizes as well as potential seats at upcoming tournaments, the company announced Thursday. The first four tournaments, scheduled for Tuesday, June 17, through Friday, June 20, will serve as Royal Ascot "feeders" for the grand finale, the Royal Ascot Challenge held Saturday, June 21. Prizes for the Royal Ascot Challenge include cash and a potential seat in the upcoming Stephen Foster Betting Challenge June 28. "Each year American horseplayers have become increasingly...

Affinity Interactive, the parent company of Daily Racing Form  has sold its advance-deposit wagering platform, DRF Bets, to 1/ST TECHNOLOGY who has rebranded the product as 1/ST BET PRO, the company announced Tuesday. Affinity Interactive and 1/ST TECHNOLOGY have partnered since 2011 on DRF Bets, with Xpressbet providing back-end technology, wagering, pathways, customer service, and data security. Tuesday's acquisition marks the next phase in a longstanding relationship between the two organizations. Customers of DRF will experience a seamless and secure transition to 1/ST BET PRO, with no changes to their...

The 12-race Belmont Stakes Day card, highlighted by Sovereignty's (Into Mischief) victory in the GI Belmont Stakes, generated all-sources handle of $101,861,883 with a paid attendance of 46,243, NYRA announced in a press release Saturday evening. Originally a 14-race card, heavy rain in the Saratoga Springs region Friday and Saturday forced all races off the turf and canceled both the GI Jaipur [Race 9], a "Win and You're In" for the GI Breeders' Cup Turf Sprint; and the GI Resorts World Casino Manhattan [Race 12]. That pair of Grade I's...

On the verge of demolition, Pimlico Race Course's 150 Preakness day card drew $110 million in wagering, an increase of 11.3% over $98,858,918 bet on last year's Preakness program. The May 17 card had 14 races carded, anchored by the Preakness, was won by Journalism (Curlin). The record high for the day is $112,504,509 established in 2021, when Rombauer, trained by this year's winning trainer Michael McCarthy, won the second jewel in the Triple Crown.

The federal lawsuit in Michigan involving TwinSpires and a state law requiring advance-deposit wagering (ADW) platforms to partner with a brick-and-mortar racetrack before accepting simulcast wagers took a twist Friday when a judge granted in part and denied in part a motion by state defendants to dismiss the claim initiated back in January by Churchill Downs Technology Initiatives Company. "TwinSpires brings this claim under the implied cause of action to enjoin state actors from violating federal law," United States District Court Judge Hala Jarbou of the Western District of Michigan...

When lawmakers passed the New York State budget Thursday, the package included a gift for horseplayers. Starting Sept. 1, New York will join Kentucky and Washington as the only racing states to break payoffs to the penny. However, the bill allows for nickel breakage on on-track wagers, provided all breakage proceeds are dedicated to aftercare funding. It was not immediately clear which tracks would adopt the penny breakage and which would chose the nickel-breakage package. Both NYRA and Gov. Kathy Hochul were supportive of the move to penny breakage. "The...

With more than 100,000 in attendance on what became a wet Oaks Day, Churchill Downs Incorporated (CDI) reported that all-sources wagering on the GI Kentucky Oaks was $22.7 million, which was up four percent from last year, but betting from all-sources on the full race day card was $73.9 million, which was down 1.9% from last year's record $75.3 million, the company said in a release late on Friday. TwinSpires, the official betting partner of the Kentucky Oaks, handled a new record of $20.9 million in wagering on Churchill Downs...

Keeneland concluded its 2025 Spring Meet on Friday following 15 days of racing that produced total wagering of $192 million. The Spring Meet was slated to begin Friday, Apr. 4, but severe storms and flooding rainfall forced Keeneland officials to take the unprecedented step of rescheduling the opening two days, resulting in the GI Central Bank Ashland and the GI Toyota Blue Grass moving to Monday, Apr. 7 and Tuesday, Apr. 8, respectively. "The success of this Spring Meet is a salute to the power of teamwork, and we are...

Kentucky Derby Week kicks off Saturday night as Churchill Downs opens its 43-day Spring Meet. Kentucky Derby Day features 14 races, including seven stakes contests, with a betting menu that includes six Pick 5s, five Pick 4s and a mandatory payout in the 20-cent Derby City 6 Jackpot.   In 2024: The Pick 5 ending in the Kentucky Derby handled $4.4 million and returned $188,958. The Pick 4 ending in the Kentucky Derby handled $3.2 million and paid $18,300. The Derby City 6 Jackpot handled $2.3 million, with a payout...

Saturday's Santa Anita Derby day showed large increases over 2024 with the all sources handle totaling $22,388,003 and wagering on just the marquee race up by nearly 24 per cent, according to a press release by the track. Bolstered by a big turnout from the Derby Day 5K, the on-track attendance came in at 34,312, a seven per cent jump from last season. It was the largest turnout since 2018. Both the all sources handle and on track attendance are expected to finish the Classic Meet Sunday up by noteworthy...