Advanced deposit wagering

TwinSpires To Implement Revisions To IRS Reporting, Withholding Regulations Thursday

In the wake of the IRS’ announcement regarding pari-mutuel wagering on Monday, bet-taking companies across the nation have been rushing to find ways to implement the new tax regulations. Of the “Big Three” advance-deposit wagering companies, TwinSpires was the first to say it will offer horseplayers the chance to take advantage of the new rules […]

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WatchandWager Launches New Business Trading Initiative

The board of Webis, the Group specializing in pool wagering and the operators of Cal Expo, the California harness track, is pleased to announce that its Advanced Deposit Wagering (“ADW”) business, WatchandWager.com LLC (“WatchandWager”) launched a new initiative of the company called Business Trading with the release of the website www.wawbusinesstrading.com that reaffirms the group’s […]

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Iowa: HBPA Urging Commission To Take Action On Unlicensed Online Wagering

Jon Moss, the executive director of the Iowa Horsemen’s Benevolent and Protective Association, met with the Iowa Racing and Gaming Commission on Thursday to discuss what he called “more or less tax evasion.” According to The Gazette, Moss reported that several online advanced deposit wagering companies continue to operate in the state without being licensed […]

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CHRB Meeting: Proposals For Medication-Based Race Conditions, ADW Regulation

The California Horse Racing Board conducted its regular meeting Thursday, October 20, at Santa Anita Park. Chairman Chuck Winner presided. Commissioners Steve Beneto, George Krikorian and Alex Solis also were in attendance. The audio of this entire Board meeting is available on the CHRB Website under the Webcast link. In brief: In discussing 2017 race […]

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Online Wagering In North Dakota On Track To Reach $600 Million

The state of North Dakota’s 12 licensed advanced deposit wagering (ADW) companies are on track to bring in $600 million this fiscal year, having already increased five-fold over the past five years according to inforum.com. Head of the state Racing Commission Gunner laCour says that the increases are due to the strict regulatory standards in […]

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TwinSpires.com License Revoked In Virginia

The Virginia Racing Commission has suspended the license of TwinSpires.com, according to the Blood Horse. Effective of Dec. 18, the suspension of the advanced deposit wagering company is a result of unpaid fees to racing entities in the state. According to Virginia state law, ADWs in the state are required to submit a portion of each […]

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Churchill Downs Sues Daily Racing Form; Claims Derby, Oaks Wagering Illegal

Churchill Downs Inc. has filed a lawsuit against the Daily Racing Form claiming that the publication’s online betting site took wagers on Kentucky Oaks and Derby days without permission. The Louisville Courier-Journal reports that the lawsuit, which was filed May 18 in Jefferson Circuit Court, seeks a court order to prevent the Racing Form’s DRF […]

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Bad Lawmaking Bites North Dakota: State May Owe Millions To Bankrupt ADW

When it comes to taxation on horse race wagering, states better make sure they dot their i’s and cross their t’s. The nation’s second highest court ruled this month that North Dakota had no standing to collect millions of dollars in taxes from Racing Services, Inc. (RSI), a now-defunct advanced deposit wagering company. The U.S. […]

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Big Problems: Future Seems Bleak For Racing In Texas

I’m not the only one who let my imagination run wild in 1987 when the Texas legislature authorized a state-wide referendum to bring pari-mutuel racing back to the Lone Star state. After all, this was Texas, where you are supposed to think big. Texas was the home of Arlington Downs racetrack for a glorious decade, […]

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Report: Texas Court Upholds Ban on Advance Deposit Wagering

The Fifth Circuit U.S. Court of Appeals in Texas has upheld a lower court’s ruling that prohibits companies from taking wagers from state residents over the phone or internet. According to the Louisville Courier-Journal, Churchill Downs Inc. had hoped the three-judge panel would reverse a lower court’s ruling on the matter. The Louisville-based company, which […]

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