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Type | Private |
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Industry | Gambling |
Headquarters | , United States |
Area served | United States |
Key people | Richard Peden, co-president Dan Newman, co-president |
Products | Xpressbet, XBSelect, XBNet, XBGlobal XBRewards |
Services | Online/mobile horse racing wagering service |
Parent | Stronach Group Company |
Website | www |
Xpressbet, LLC is a subsidiary of Stronach Group Company founded in 2002 and based in Washington, Pennsylvania. [1] 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 service 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. [2]
In April 1983, the Meadows, the first pari-mutuel horse racing track in Western Pennsylvania, launched Call-A-Bet, which allowed patrons to wager through personal telephone accounts. In November 1983, the Meadows Racing Network, a satellite television station that pumped a 12-race card into 270,000 Pennsylvania homes and complemented the Call-A-Bet system, was introduced. [3] 18% stake of the Meadows Racing Network was later sold to Toronto-based Magna Entertainment Corp (MEC) as part of a $53 million deal. Frank Stronach, the chairman of Magna, said, "The acquisition of the Call-A-Bet account wagering system, together with Ladbroke's other Pennsylvania horse racing operations, is an important step in MEC's strategic plan of building the premier account wagering business in the country. By acquiring the existing Call-A-Bet system, which already has a profitable operating history, MEC will significantly advance its electronic media strategy and realize an immediate improvement in its earnings per share." [4]
Call-A-Bet later added internet wagering service and was renamed to XpressBet. In March 2002, Ron Luniewski, then co-chief executive officer of online advance-deposit wagering company called Youbet.com (later acquired by Churchill Downs [5] ), resigned to serve as CEO of XpressBet. [6]
On April 20, 2018, Ron Luniewski left the company. [7] As of his exit, XpressBet's handle grew to $782.6 million in 2017. [8]
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A tote board is a numeric or alphanumeric display used to convey information, typically at a race track or at a telethon.
Frank Stronach is an Austrian and Canadian businessman and politician.
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Golden Gate Fields is an American horse racing track straddling both Albany, California and Berkeley, California along the shoreline of the San Francisco Bay adjacent to the Eastshore Freeway in the San Francisco Bay Area. With the closing of the Bay Meadows racetrack on May 11, 2008, it became the only major Thoroughbred racetrack in Northern California. It is currently owned by The Stronach Group.
Off-track betting is sanctioned gambling on greyhound racing or horse racing outside a race track.
Harrah's Hoosier Park Racing & Casino is a racino including a standardbred racetrack located in Anderson, Indiana, approximately 30 miles northeast of Indianapolis. It is owned and operated by Caesars Entertainment. The facility features live harness racing from April through November, casino gaming, restaurants, a gift shop, and entertainment.
Laurel Park, formerly Laurel Race Course, is an American thoroughbred racetrack located just outside Laurel, Maryland which opened in 1911. The track is 1+1⁄8 miles in circumference. Its name was changed to "Laurel Race Course" for several decades until returning to the "Laurel Park" designation in 1994.
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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.
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The Hollywood Casino at The Meadows, originally The Meadows Racetrack and Casino, is a Standardbred harness-racing track and slot-machine casino which is located in North Strabane Township, Pennsylvania, United States, about 25 miles (40 km) southwest of Pittsburgh. It is owned by Gaming and Leisure Properties and operated by Penn Entertainment.
Portland Meadows was an American horse racing venue in Portland, Oregon, owned by The Stronach Group since July 3, 2011 and previously owned by MI Developments Inc. (MID) 2001. Built by William P. Kyne, who also built Bay Meadows Racetrack in San Mateo, California, the facility opened on September 14, 1946. The track's closure was announced in March 2019, following the conclusion of the 2018-19 racing season, with the property slated for redevelopment. The last day for simulcast racing was December 7, 2019 and the poker room closed December 15, 2019. Demolition began in February 2020.
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Horse racing in South Korea traces back to May 1898, when a foreign language institute run by the government included a donkey race in its athletic rally. However, this type of racing was sponsored for entertainment purposes only. No betting was conducted. It was in the 1920s that 'modern' horse racing involving a betting system made its debut. In 1922, the Chosun Racing Club, the nation's first-ever authorized horse racing club, was established to make horse racing more systematic and better organized. In 1923, the pari-mutuel betting system was officially adopted for the first time in Korea. The Sinseol-dong racecourse opened in 1928 and incorporated racing clubs were allowed to have their own racecourses.
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.
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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.
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