advance deposit wagering

IRS Reporting, Withholding On Winning Bets Take Steep Drop Under New Regulations

In the first year of operations under newly modernized U.S. Treasury and Internal Revenue Service (IRS) regulations, there was a $307 million reduction in the amount of winning pari-mutuel wagers reported to the IRS using form W-2G, according to statistics released today by the National Thoroughbred Racing Association (NTRA). This reduction in the amount of […]

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NYRA Bets Now Available To Pennsylvania Residents

The New York Racing Association (NYRA) is pleased to announce that NYRA Bets is now available in Pennsylvania for residents 18-years-and older. NYRA Bets offers horseplayers lucrative rewards, promotional offers on racetracks around the world, instant signup, free funding option, no wagering transactions fees, and three convenient ways to bet: download the NYRA Bets App, […]

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XpressBet, Long-Time President Luniewski Parting Ways

Ron Luniewski is no longer the president of XpressBet, reports drf.com. In that position since 2002, Luniewski was one of the longest-serving members of the ADW company. The Stronach Group’s Tim Ritvo met with Luniewski at XpressBet headquarters in Pittsburgh on Friday, and XpressBet made the notification to its employees shortly thereafter. Neither Ritvo nor Luniewski […]

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Chase Bank Now Accepting Credit Card Transactions Between Customers, U.S.-Based ADWs

The National Thoroughbred Racing Association (NTRA) today announced that JPMorgan Chase & Co., the largest bank in the United States and the largest credit card issuer in the U.S. with more than 80 million active credit cardholder accounts, has begun approving credit card deposit transactions with U.S. licensed and regulated advance deposit wagering companies (ADWs). […]

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Sorry, Wrong Number: Turf Paradise Ending Telephone Wagering

Turf Paradise in Phoenix, Ariz., is pulling the plug on telephone wagering less than three years after the outdated service went into effect. A statement on the Turf Paradise website said: “Effective January 9, 2018, all Phone Betting Accounts for Arizona residents will no longer be active. This includes phone betting accounts with TVG, Twin Spires, Xpressbet […]

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Former United Tote Employee Charged With Extortion; Allegedly Stole Social Security Numbers

A Kentucky man who formerly worked for Churchill Downs Inc.’s bet processing company, United Tote, has been indicted by a federal grand jury on extortion charges. Ethan C. Fey has been charged in United States District Court for the Western District of Kentucky in Louisville with one count of Hobbs Act extortion and one count […]

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First Year Of NYRA Bets Sees 50 Percent Geographic Expansion, Availability In 29 States

Following its launch during the 2016 meet at Saratoga Race Course, NYRA Bets, a leading advance deposit wagering (ADW) platform, has increased its geographic reach by nearly 50 percent and is now available in 29 states nationwide. The operation of NYRA Bets provides a variety of benefits to the New York Racing Association (NYRA) and […]

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‘Show’ Us The Money? The Plight Of A Simple Wager

The modern menu of betting options in North American horse racing has reached dizzying levels. Daily Double, Pick 3, 4, 5, 6, exacta, trifecta, superfecta, Super High Five, Pick 6 jackpots, Grand Slams, Place Pick All. You get the idea. But it’s one of the oldest and most basic wagers that has horseplayers in fits, […]

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Xpressbet Named Preferred U.S. Betting Site For Royal Ascot Meeting

Xpressbet, a subsidiary of The Stronach Group, has been named the ‘Preferred U.S. Betting Site of Royal Ascot.’ Royal Ascot is one of the world’s most prestigious race meets, featuring 19 graded stakes races and £6.58 million ($8.5 million USD) in purses. A staple on the UK racing calendar since the 1700s, this year’s Royal […]

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Ohio State Racing Commission Schedules Open Forum On Out-Of-Competition Testing

The Ohio State Racing Commission (OSRC)’s open forum on out of competition testing will be held April 24 OSRC at 10 am, at the Riffe Center, 77 S. High Street, Room 1960. The meeting is open to all pari-mutuel stakeholders, horsemen’s associations and the public, and will take place immediately after the OSRC’s monthly meeting […]

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