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2014 racing dates for Scioto Downs approved

2014 racing dates for Scioto Downs approved | Racing Business | Scoop.it

Scioto Downs Racino and the Ohio Harness Horsemen’s Association have agreed on a 90-night live racing meet for 2014.

 

OHHA president Steve McCoy and Scioto Downs general manager of racing Stacy Cahill said the deal was signed the morning of Dec. 19 and subsequently presented to the Ohio State Racing Commission.

 

Scioto Downs by statute is required to race 100 days in 2014 unless it reaches an agreement with the OHHA on fewer dates.

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Nutrition, Biosecurity Among Topics To Be Addressed At 2016 Welfare & Safety Summit - Horse Racing News | Paulick Report

Nutrition, Biosecurity Among Topics To Be Addressed At 2016 Welfare & Safety Summit - Horse Racing News | Paulick Report | Racing Business | Scoop.it
The seventh Welfare and Safety of the Racehorse Summit will feature a rich mix of updates on previous Summit topics such as racing surfaces, rider safety and equine injuries as well as discussions of new topics that are essential to the welfare of racehorses, including nutrition, biosecurity, and respiratory health. The summit, which is organized …
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Kentucky Ag Commissioner to Speak at May KENA Dinner

Ryan Quarles is the featured presenter for the Kentucky Equine Networking Association meeting in May.
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Godolphin Launches Thoroughbred Industry Employee Awards In U.S. - Horse Racing News | Paulick Report

Godolphin announced May 4th the launch of the Thoroughbred Industry Employee Awards (TIEA), in partnership with the National HBPA, Thoroughbred Owners and Breeders Association (TOBA) and The Jockey Club. The awards are open to anyone working in horseracing and breeding across the USA in order to recognize and reward the dedicated, hard-working people who are the …
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Tech is making horse-racing bettors richer than ever

Tech is making horse-racing bettors richer than ever | Racing Business | Scoop.it
On Saturday afternoon, horse-racing fans around the world will watch as favorites Gun Runner, Nyquist and Exaggerator vie for first place in the Kentucky Derby. Many people will put money on the Run for the Roses; 2015 on-book Derby wagers reportedly totaled $130.5 million. But few gamblers will be as vested as an elite coterie of mega-bettors who use technology to game the system — not unlike what hedge funds use to analyze the stock market.

According to a recent article in the racing bible Blood-Horse magazine, syndicates composed of Ivy League-educated computer scientists, astute handicappers and seasoned money-movers “[make] thousands of wagers in an instant.” One area team leader tells The Post, “It’s just like Wall Street. We’re looking for value and jumping into trades all afternoon.”

Unlike the rest of us, members of these tightly managed syndicates — reportedly around 21 in operation — bet only when they perceive advantages. Their software grinds though loads of data from past races to provide what’s hoped to be the true odds for each horse running. When the system finds value — say, if the track offers odds of 6–1 but the software says it should be 3–1 — they pounce with wagers.

The first computer-assisted betting operations quietly began in Hong Kong and used complex algorithms to capitalize on inefficient markets. Over the years, news of their success leaked. Many people tried to emulate the Hong Kong horse-players and failed. Others struggled before finding profitable formulas.

“I did not have immediate success with the analysts that I put to work for me,” says the source, who has since gone on to earn millions. “I worked with an engineer from a top university and made money, but we couldn’t scale things up to make enough. It took two years to find the right people.” Today, says the gambler, a handicapping system would take at least a year $2 million to create — with no guarantee of immediate success.



Blood-Horse reports that the teams wager a total of nearly $2 billion per year on various races and realize significant profits. This past March, according to an article in the magazine, computer-assisted players accounted for an estimated 15.9 percent to 20.2 percent of total racing money wagered in North America.

But, emphasizes the insider, the machines are not exactly boss. “We have people eyeballing the files and making sure nothing is abnormal,” he says. “You proof the work — but need to do it in split seconds and make adjustments.

“I’m at my computer by 5 in the morning,” says the source, whose team grosses in the eight-figures annually. “At that point, some of our guys have already put in an hour of work, entering and analyzing data from races on the West Coast. Others are proofing information for the coming day’s races, sizing up the market, predicting closing prices. People claim that what we do is robotic, but I can’t emphasize how far from that it is. There is a huge human element involved.”

As far as the Kentucky Derby goes, he says, the big race has previously been a big loser for him and his teammates, who have lost seven figures over the past few years. Because horses in the Kentucky Derby rarely race against one another, he says, “You can’t build a [reliable] statistical handicapping model.”

Nevertheless, he keeps chasing the Blue Grass dream and betting large. “Eventually we will have a big day there. Sometimes you just put on your seat belt and keep your fingers crossed. We have science on our side, but this is still far from a sure thing.”
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Churchill Downs' Growing Investment In Big Fish Games - Horse Racing News | Paulick Report

A recent conference call with investors revealed some reasoning behind Churchill Downs Inc.'s latest big investment in Big Fish Games, reports Louisville Business First. Recent financial statements revealed a $5 million decrease in adjusted earnings for the Seattle-based company, purchased by Churchill just over a year ago. Marcia Dall, Churchill's chief financial officer, the majority …
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Arlington, Illinois THA Ink Two-Year Contract

The Illinois Thoroughbred Horsemen's Association and Arlington International Racecourse April 29 signed a two-year contract that ensures Arlington's race meet will begin as scheduled May 6.
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Internet Poker Bill Advances in California

A bill that would legalize online poker, and also send $60 million a year in subsidies to the horse racing industry in California, passed unanimously through a state assembly committee April 27.
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Del Mar, Stronach Group To Offer $1-Million 'California' Bonus - Horse Racing News | Paulick Report

Del Mar, Stronach Group To Offer $1-Million 'California' Bonus - Horse Racing News | Paulick Report | Racing Business | Scoop.it
Del Mar and The Stronach Group have announced an offer of a $1-million bonus to a horse who sweeps this year's TVG Pacific Classic, the Xpressbet Awesome Again Stakes and the Breeders' Cup Classic. The three Grade I races, all open to 3-year-olds and up, are scheduled to be run on Saturday, August 20 (TVG …
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Monmouth Park set for exchange wagering * The Racing Biz

Exchange wagering -- allowing players to bet against each other -- is set to be a reality at Monmouth Park next month.
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Yahoo Finance: Churchill CEO Carstanjen On 'The Business Of Horse Racing' - Horse Racing News | Paulick Report

Churchill Downs will kick off its 2016 racing season April 30, and just a week later, will hold the 142nd running of the Kentucky Derby. Churchill CEO Bill Carstanjen recently sat down with Yahoo Finance to talk about the Derby, and the “business of horse racing.” Check out his interview in the video below.  
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California: Legalizing Internet Poker Could Bring Estimated $60 Million Boost To Racing Industry - Horse Racing News | Paulick Report

California: Legalizing Internet Poker Could Bring Estimated $60 Million Boost To Racing Industry - Horse Racing News | Paulick Report | Racing Business | Scoop.it
The horse racing industry in California could get a boost of $60 million annually if legislation is passed that would legalize Internet poker. The Daily Racing Form reports that the pending legislation was a topic of discussion during an hour-long presentation given by the Thoroughbred Owners of California at Los Alamitos on Saturday. At the …
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Fairgrounds owner pursues horse racing after casino bid dies

Thoroughbred horse racing is poised to return to the Brockton Fairgrounds this summer, after Massachusetts regulators rejected a bid to build a casino on the property.
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Court Ruling Important in Hobby Law Tax Cases

A tax law attorney said May 5 that a recent federal court decision expanded the number of arguments attorneys can make when trying to make a case that a client is running a horse operation as a business as opposed to a hobby.
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Stanley Koper Captures The 2016 World Harness Handicapping Championship - Horse Racing News | Paulick Report

Stanley Koper Captures The 2016 World Harness Handicapping Championship - Horse Racing News | Paulick Report | Racing Business | Scoop.it
Stanley Koper, 67, of Chicago Ridge, IL captured the $16,600 grand prize in the 2016 World Harness Handicapping Championship on Saturday, April 30 at Meadowlands Racing & Entertainment. Koper finished the tournament with a $1,100 bankroll to top the field of 83 players from across North America who competed for $41,500 in prize money. Koper …
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EquiLottery, IGT Global Solutions Sign Agreement For Innovative Lottery Game - Horse Racing News | Paulick Report

EquiLottery, IGT Global Solutions Sign Agreement For Innovative Lottery Game - Horse Racing News | Paulick Report | Racing Business | Scoop.it
EquiLottery, LLC (“EquiLottery”) and IGT Global Solutions Corporation, a subsidiary of International Game Technology PLC (NYSE: IGT) (“IGT”) have entered into an agreement whereby IGT can elect to promote EquiLottery to lotteries across the U.S. Touted as “The Next Generation of Lottery Draw Games,” EquiLottery offers a compelling new game for lotteries that delivers the …
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Breeder Lucy Bassett Dies at 87

Lucy Gay Bassett, wife of James E. "Ted" Bassett, died May 1 at 87. She owned Lanark Farm in Woodford Co., Kentucky, and bred Breeders' Cup Distaff (gr. I) winner Adoration.
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Kentucky Derby Kids: 'Bringing You Into A Moment' From A New Perspective - Horse Racing News | Paulick Report

The Kentucky Horsemen's Benevolent and Protective Association is sponsoring a brand-new way to look at this year's Kentucky Derby contenders: through the eyes of the trainers' children. On the one hand, says Ashley Amoss, her father Tom Amoss is just a dad. But on the other, Amoss is the trainer of Mo Tom, a horse …
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For Emily Daignault-Salvaggio, saving horses and changing mindsets * The Racing Biz

After a horse she'd thought saved ended up in the kill pen, Emily Daignault-Salvaggio realized the fight for OTTBs isn't just about saving horses, it's about changing mindsets.
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Hoverboards Added To Banned Items List At Churchill Downs - Horse Racing News | Paulick Report

Hoverboards Added To Banned Items List At Churchill Downs - Horse Racing News | Paulick Report | Racing Business | Scoop.it
Should Marty McFly come back from the future to visit Churchill Downs Racetrack on the first weekend in May with plans to attend the 142nd runnings of the $1 million Longines Kentucky Oaks (Grade I) and $2 million Kentucky Derby Presented by Yum! Brands (GI), there's a piece of his standard equipment that he would …
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Registration Open for Owner Conference

The conference will coincide with Breeders' Cup week and will have panels about racehorse ownership. It will also feature a variety of social events and provide reserved seating for both Breeders' Cup days.
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Tracks around the nation to hold PDJF fundraiser * The Racing Biz

Through a collaborative effort, tracks around the country are holding a Derby day fundraiser to raise money for the Permanently Disabled Jockeys Fund (PDJF).
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Speckert to resign as general counsel of Kentucky Horse Racing Commission

Susan Speckert, the general counsel for the Kentucky Horse Racing Commission, will leave the agency in late May for another job, the latest in a string of departures at the commission since the election of Gov. Matt Bevin last November.
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Sold Out: Churchill Prepares To Offer Second Racing Club - Horse Racing News | Paulick Report

Sold Out: Churchill Prepares To Offer Second Racing Club - Horse Racing News | Paulick Report | Racing Business | Scoop.it
Churchill Downs sold out all 200 memberships to it's first racing club, according to bloodhorse.com. Mike Ziegler, executive director of racing at the Louisville, KY track, said that due to the extremely strong response Churchill would offer a second racing club under the same parameters as the first. Each of the club's 200 shares sells …
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