Advance-deposit wagering (ADW) is a form of gambling on the outcome of horse races in which bettors must fund their account before being allowed to place bets. ADW is often conducted online or by phone. In contrast to ADW, credit shops allow wagers without advance funding; accounts are settled at month-end. Racetrack owners, horse trainers and state governments sometimes receive a share of ADW revenues.
It typically involves betting on horse or greyhound racing. Wagering may take place through parimutuel pools.
Illinois was the first state to offer ADW and has allowed its adult residents to participate in ADW since 1999 under the Illinois Horse Racing Act of 1975; Illinois receives a cut of ADW revenues. Shortly thereafter, Connecticut, Maryland, New York, Oklahoma, and Pennsylvania allowed the practice as well. By 2011, 28 states expressly allowed advance-deposit wagering, with 13 remaining in a bit of a "grey area" as the practice isn't explicitly prohibited by state law. [1] Since the IGA was created in 2001, there have been a couple of updates to it. Amendments were made in 2017 and then again in 2019. These amendments mainly related to advertising and player protection. While these changes tightened up the regulatory environment, it also resulted in over 150 operators leaving Australia. [2] [3]
Chapter 58 of the New York State Laws of 2012 added a new Section 911 to the New York State Racing, Pari-Mutuel Wagering and Breeding Law (Racing Law). Section 911 requires the New York State Racing and Wagering Board (Board) to assess the impact of advanced deposit wagering (ADW) in New York State including, but not limited to:
Section 911 of the Racing Law required that the study, along with any recommendations, be submitted to the Governor and the Legislature by September 15, 2012. [4]
The results of the survey revealed that New York residents bet $165,567,707 in 2010 and $142,246,859 YTD 9/30/11 through the responding OSAWPs. This includes wagering on the New York racing product and on out-of-state racetracks. Table 1 provides detail of the handle by New York racetracks and out-of-state racetracks. The Board estimates this handle will exceed $200,000,000 in 2012.
The survey also showed that OSAWPs listed 18,769 accounts in 2010 and 21,310 accounts in YTD 9/30 2011 as New York resident accounts. All 62 New York State counties are represented. Table 2 lists the number of accounts by the county in which the zip code originated. Table 2-A lists the number of accounts by statutorily defined Off-Track Betting Regions. NJ Account Wagering, Sol Mutuel, Global Wagering Solutions and Elite Turf Club reported having no New York accounts.
Parimutuel betting or pool betting is a betting system in which all bets of a particular type are placed together in a pool; taxes and the "house-take" or "vigorish" are deducted, and payoff odds are calculated by sharing the pool among all winning bets. In some countries it is known as the tote after the totalisator, which calculates and displays bets already made.
A bookmaker, bookie, or turf accountant is an organization or a person that accepts and pays out bets on sporting and other events at agreed-upon odds.
The New York Racing Association, Inc. (NYRA) is the not-for-profit corporation that operates the three largest thoroughbred horse racing tracks in the state of New York, United States: Aqueduct Racetrack in South Ozone Park, Queens; Belmont Park in Elmont; and Saratoga Race Course in Saratoga Springs.
Online gambling is any kind of gambling conducted on the internet. This includes virtual poker, casinos, and sports betting. The first online gambling venue opened to the general public was ticketing for the Liechtenstein International Lottery in October 1994. Today, the market is worth around $40 billion globally each year, according to various estimates.
Off-track betting is sanctioned gambling on greyhound racing or horse racing outside a race track.
In the United States, gambling is subject to a variety of legal restrictions. In 2008, gambling activities generated gross revenues of $92.27 billion in the United States.
Stronach Group, doing business as 1/ST, is an entertainment and real estate company in North America with Thoroughbred horse racing and pari-mutuel wagering at the core.
Batavia Downs is a harness racing track and casino in Batavia, New York. It is located in Genesee County between Buffalo and Rochester just off of the New York State Thruway. It opened on September 20, 1940, and is the oldest lighted harness racetrack in the United States. The track is exactly .5 miles (0.80 km) long.
The Agriculture & New York State Horse Breeding Development Fund is the public-benefit corporation responsible for administering the New York Sire Stakes.
Glossary of North American horse racing:
Eureka Downs was an American horse racing track located near U.S. Route 54 in Eureka, Greenwood County, Kansas. Run by the Greenwood County Fair Association, the facility hosted Standardbred harness racing, American Quarter Horse, and Thoroughbred flat racing events.
Bally's Twin River Lincoln Casino Resort, previously Twin River Casino Hotel, is a casino, hotel, and former race track in Lincoln, Rhode Island, owned and operated by Bally's Corporation. The facility has 202,000 square feet (18,800 m2) of gaming space, with 3,900 slot machines, 110 table games, and 23 poker tables. The hotel has 136 rooms. Other amenities include a 29,000-square-foot (2,700 m2) event center, 16 eateries, 8 bars, and a racebook.
Xpressbet, LLC is a subsidiary of Stronach Group Company founded in 2002 and based in Washington, Pennsylvania. The company provides pari-mutuel action services that enable account holders to watch and wager on thoroughbred, harness, and quarter horse racing virtually. The company also provides handicapping resources, such as daily picks, wagering guides, newsletters, blogs, and columns. Xpressbet, LLC provides wagering services to nearly 200 racetracks in North America, Australia, Europe, South Africa, and the Middle East. It also offers back-end or white label wagering services for other Account Deposit Wagering (ADW) suppliers.
Historical horse racing (HHR), originally known as Instant Racing, is an electronic gambling product that allows players to bet on replays of horse races or dog races that have already been run, using terminals that typically resemble slot machines.
Horse racing in the United States dates back to 1665, which saw the establishment of the Newmarket course in Salisbury, New York, a section of what is now known as the Hempstead Plains of Long Island, New York. This first racing meet in North America was supervised by New York's colonial governor, Richard Nicolls. The area is now occupied by the present Nassau County, New York, region of Greater Westbury and East Garden City.
Legal forms of gambling in the U.S. state of California include cardrooms, Indian casinos, the California State Lottery, parimutuel wagering on horse racing, and charitable gaming. Commercial casino-style gaming is prohibited.
In the U.S. state of New York, off-track betting on horse racing is offered by five regional, government-owned corporations. As of 2014, the five operators had a total of 89 betting parlors and 5 tele-theaters around the state. They accepted a total of $558 million of bets in 2016.
Betting on horse racing or horse betting commonly occurs at many horse races. Modern horse betting started in Great Britain in the early 1600s during the reign of King James I. Gamblers can stake money on the final placement of the horses taking part in a race. Gambling on horses is, however, prohibited at some racetracks. For example, because of a law passed in 1951, betting is illegal in Springdale Race Course, home of the nationally renowned Toronto-Dominion Bank Carolina Cup and Colonial Cup Steeplechase in Camden, South Carolina.
Greyhound racing in the United States is a sport and parimutuel gambling activity. The industry is regulated by state or local law and greyhound care is regulated by the American Greyhound Council (AGC) and the National Greyhound Association.
Tommy Roberts is a radio and TV broadcaster. In 1984 he launched simulcast - a televised feed of horse races to racetracks, casinos, and off-track betting facilities, enabling gamblers to watch and bet on live racing worldwide.