Horse Racing News is the source of thoroughbred racing information with horse racing odds, betting tips, racing picks, race results, and handicapping. Latest news and articles on top horse racing contenders, jockeys, trainers, three-year-olds, race tracks, and major stakes races such as the Triple Crown races: the Kentucky Derby, Preakness and Belmont Stakes as well as the Breeders' Cup horse races.Kentucky Derby home betting on Account Wagering
Posted on Monday, March 5th, 2007
Churchill Downs Inc.’s battle with provider TVG could shape future of rapidly growing account wagering industry?? for horse racing.
By Gregory A. Hall
Advance-deposit wagering — bets made off-track using computers, telephones or other devices — represents the fastest-growing segment of the $15 billion-a-year thoroughbred pari-mutuel market.
That’s why Churchill Downs Inc.’s yet-to-be-announced long-term plans and the fight with its existing account wagering provider, TVG, could have a profound effect on the landscape of interstate wagering.
Where tracks historically have been limited by geography, wagers made by bettors from accounts where they have deposited money don’t necessarily have the same constraints.
“Obviously the potential of (account wagering providers) is unlimited because they get to such a large audience,” said Marty Maline, executive director of the Kentucky Horsemen’s Benevolent & Protective Association.
For the last five years, thoroughbred pari-mutuel wagering in the United States has been virtually stagnant — hovering between $14.5 billion and $15.1 billion, according to racing-industry statistics. But account wagering has grown from virtually nothing to about $1.5 billion last year, said Alex Waldrop, president of the National Thoroughbred Racing Association, based in Lexington. The Courier-Journal
"Kentucky Derby home betting on Account Wagering" was posted on Monday, March 5th, 2007 at 10:18 am and is filed under Churchill Downs, Horse Racing Industry, Kentucky Derby, USA Horse Racing. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.
Previous Horse Racing News Entry:
Scat Daddy Takes Fountain of Youth Stakes
Next Horse Racing News Entry:
Circular Quay Favorite for Louisiana Derby
Comments are closed.