wagering

Keeping Pace posts tagged "wagering"

Looking at Where California Wagering Revenues Go

Sometimes it's worthwhile to just look at all the places the pari-mutuel dollar goes in racing. With that in mind, I've returned to the well-done California Horse Racing Board annual report for fiscal year 2015-16, which breaks down where every pari-mutuel wagering dollar goes in the state. Of the $2.9 billion wagered on California racing in the fiscal year, $2.3 billion, or 79%, was returned to winning... Read More

Slimmed Down Racing May Be Finding Its Footing

While wagering on U.S. races in 2016 was flat—up less than 1% compared with 2015— bettors continue to support a reduced Thoroughbred racing product. That is to say average handle per U.S. race in 2016 improved 2.3% to $280,408, which is the first time since 2007 that wagering per race has surpassed $280,000. The $280,408 in average wagering per race is up 18.2% from the decade-low $237,135 wagered... Read More

Daily Settlements Needed to Protect Players

In late November, in a move done in large part to protect horseplayers at advance-deposit wagering companies, the Kentucky Horse Racing Commission approved a rule that would require ADWs that operate in the state acquire a bond of up to $500,000 as a condition of licensing. The new requirement should provide added protection for Kentucky ADW customers—as well as the state—should an ADW declare bankruptcy... Read More

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