Distinction RGS-IRG

[betovernetcapper]

Is there any distinction between RGS and IRG?
There are differences.
In their names the letter G is 2nd in one and 3rd in the other.
One is based in Curacao and one in St Kitts.
One is affiliated with YouBet and one with TrackNet.
OK-these are differences and maybe even important differences, but in their activity is there any distinction between the two?

[Pace Cap'n]

My impression is that RGS has a much higher class of shady characters.

[jillybeans]

RGS has plenty of agents and settled in cash. IRG lured the egyptian and the shiekh. RGS has the full spread of Track-net racetracks. IRG lost the signal to them all. RGS agents drove Mercedes Benz. IRG agents old cadillacs. RGS is run by the man who sets the new standards for horse racing, Mr. kirk Brooks. IRG is run by a guy who breaks his scale everytime he weighs himself.

[richrosa]

RGS has plenty of agents and settled in cash. IRG lured the egyptian and the shiekh. RGS has the full spread of Track-net racetracks. IRG lost the signal to them all. RGS agents drove Mercedes Benz. IRG agents old cadillacs. RGS is run by the man who sets the new standards for horse racing, Mr. kirk Brooks. IRG is run by a guy who breaks his scale everytime he weighs himself.

jilly,

This analysis is priceless!!

[betovernetcapper]

Thanks Jilly, but those are just more differences and I'm looking for a distinction. As an example let's compare the Episcopalian Church and a Colombian drug cartel.
Because Columbia is a largely Catholic country many members of the cartel may believe in the infallibility of the pope. The Episcopalian Church may like and respect the Pope and maybe even have him over for dinner, but they don't consider him infallible. This is what I'd call a difference .
.
Again using the Episcopalian Church and a Colombian drug cartel for example, a distinction might be that the Episcopalian Church doesn't have selling drugs and killing people as part of it's business plan.
.
So moving back on thread, what's the distinction between RGS and IRG?

[jillybeans]

Betover...so you are asking what distinguishes the two...IRG and RGS? Barring this being one of those 'planted' trick questions...and knowing both outfits...let me take the rest of the day off and see if I can not come up with an acceptable answer to your question.

[Brisson]

the answer is quite OBVIOUS


UBET is a publicly traded corporation and is OWNED by the SHAREHOLDERS, thus IRG is a public business the day Champion was stupid enough to over pay for a call center in mexico giving rebates under the table...the CEO answers to the shareholders and both the CEO and CFO have alot of worrying to do regarding these awful mergers (and possible kickbacks, silent ownership, etc...) i would be very worried if i were them , to saying nothing about the awful awful results and their undeserved bonuses


RGS is NOT a publicly traded company and answers to No one, except what ever hush hush deals they have with Tracknet and thus why they all drive Mercedes....

the moral of the story is its much better (and smarter) to be a privately held company, in the business and real world enviornment we live in and i wouldnt want to be involved with UBET/IRG when the shit hits the fan, which will be any day now....and now you know the rest of the story

[richrosa]

One moral to this story, and they are many, is to avoid taking any company you are with public at all costs. Mt firsthand experience with this will ensure that I won't be involved with a public firm again.

[Grits]

Betover, as a lifelong Episcopalian--I find this one absolutely priceless!!! LOLOL:lol:

Thanks Jilly, but those are just more differences and I'm looking for a distinction. As an example let's compare the Episcopalian Church and a Colombian drug cartel.
Because Columbia is a largely Catholic country many members of the cartel may believe in the infallibility of the pope. The Episcopalian Church may like and respect the Pope and maybe even have him over for dinner, but they don't consider him infallible. This is what I'd call a difference .
.
Again using the Episcopalian Church and a Colombian drug cartel for example, a distinction might be that the Episcopalian Church doesn't have selling drugs and killing people as part of it's business plan.
.
So moving back on thread, what's the distinction between RGS and IRG?

[trigger]

Is there any distinction between RGS and IRG?
There are differences.
In their names the letter G is 2nd in one and 3rd in the other.
One is based in Curacao and one in St Kitts.
One is affiliated with YouBet and one with TrackNet.
OK-these are differences and maybe even important differences, but in their activity is there any distinction between the two?

I'll take a shot---The affiliation between IRG/Youbet and RGS/Tracknet is different.
Youbet owns IRG and processes all of IRG's customers bets to the host tracks. Youbet ,as IRG's owner, is responsible for setting IRG policies and monitoring IRG's operations and approving IRG prices negotiated with tracks that accept IRG wagers.
Tracknet does not own RGS and TN negotiates prices between RGS and TN's member tracks. RGS also directly negotiates prices with non-TN tracks (e.g., the NYRA tracks).
Churchill Downs acts as RGS's settlement agent with tracks that accept RGS wagers. I'm not sure how this operation works but I would guess that it works similarly to tracks that now act as 'Betting Hubs" for other "member" tracks. As I understand it, these tracks maintain records of bets processed through their hub by its member tracks and "settle up" with the host tracks and its hub members periodically.

[jillybeans]

NYRA does not give their signal to RGS...which is why Churchill Downs and MEC partnered up with the intent of having Empire Racing be selected and take that NYRA signal and beam it all over the world at a huge windfall for them. RGS has very little content except for the MEC and CHDN tracks. IRG has content except for the CHDN and MEC tracks. But what distinguishes the two? I know this is a trick question. The cash money dealing offshore is so enormous. There is a reason they are offshore and not operating fully within the 50 states. The settlement charges between RGS and CHDN have been called into question by numerous third parties. Can IRG be the lone dirty offshore entity or does the reason they are offshore to begiin with create this environment where violating the Travel Act of 1961, the Illegal Gambling Business Act of 1970, the Racketeer Influenced and Corrupt Organization Act of 1970, the Illegal Money Transmission Act of 1970, and of course, the much referenced Wire Act of 1961 becomes the reason they are not totally on American soil? One Federal Judge determines that a 'credit' can mean 'rebate' and these offshore organizations will all follow the plight of the sports and poker companies.

[betovernetcapper]

If a book is going to pay off, from time to time, it's going to have to lay off.
Anyone have any thoughts about who would lay off with RGS and who with IRG.
I know this is only a difference and not a distinction, but still curious.

[alydar]

A riduculous question. Anybody who knows isn't going to say.


What does it matter anyway?

[betovernetcapper]

What does it matter anyway?

Alydar, your right it doesn't really matter which book lays off with RGS and which lays off with IRG. It's a difference without a distinction. Still I can't help but be a little curious at how the decision is made. Let's say I'm an illegal book and holding a $1000 bet on a 30-1 first time starter at Retama, made by a sharp player and it's 5 minutes to post--how do I chose St Kitts or Curacao?

[jillybeans]

"anybody who knows isn't going to say."
Alydar

From the same individual who blasts my credibility for not publicly announcing names and insists i interfere with an ongoing Federal investigation. :bang:

[trigger]

NYRA does not give their signal to RGS...which is why Churchill Downs and MEC partnered up with the intent of having Empire Racing be selected and take that NYRA signal and beam it all over the world at a huge windfall for them. RGS has very little content except for the MEC and CHDN tracks. IRG has content except for the CHDN and MEC tracks. But what distinguishes the two? I know this is a trick question. The cash money dealing offshore is so enormous. There is a reason they are offshore and not operating fully within the 50 states. The settlement charges between RGS and CHDN have been called into question by numerous third parties. Can IRG be the lone dirty offshore entity or does the reason they are offshore to begiin with create this environment where violating the Travel Act of 1961, the Illegal Gambling Business Act of 1970, the Racketeer Influenced and Corrupt Organization Act of 1970, the Illegal Money Transmission Act of 1970, and of course, the much referenced Wire Act of 1961 becomes the reason they are not totally on American soil? One Federal Judge determines that a 'credit' can mean 'rebate' and these offshore organizations will all follow the plight of the sports and poker companies.

1. My bad, NYRA does not contract with RGS...although the NY racing board took them off the Book of Bastards several years ago.
2.Based on the RGS web site http://www.rgs.net/DesktopDefault.aspx?tabindex=1&tabid=7, it appears that they carry most of the non-NYRA US thoroughbred tracks(many non-TN) plus a couple of dozen Harness and Dog tracks.....much more than a "little content except for the MEC and CHDN tracks".
3. Please provide some documentation/examples on "The settlement charges between RGS and CHDN have been called into question by numerous third parties"

[betovernetcapper]

3. Please provide some documentation/examples on "The settlement charges between RGS and CHDN have been called into question by numerous third parties"

If I count as a third party

http://www.paceadvantage.com/forum/showthread.php?t=40511

This my understanding of a settlement, an ADW places bets with a track and settles say once a month on the amount owed to the track or the ADW. If I was doing it, I'd use Gordon Pine's Bettor Keep Track software ($150) and a grad student for $10 @ hour.

[jillybeans]

Page 79 of the NYRA Integrity Review.....try finding out the true amount RGS pays Churchill Downs, a publicly traded company, for this simple bookkeeping procedure, is a mystery to all and something Churchill Downs has refused commenting on. Perhaps this may shed some light on why RGS has all the MEC and CHDN content and most every other ADW and offshore shop does not, unless that offshore shop is connected with RGS.

[happy1]

1. My bad, NYRA does not contract with RGS...although the NY racing board took them off the Book of Bastards several years ago.
2.Based on the RGS web site http://www.rgs.net/DesktopDefault.aspx?tabindex=1&tabid=7, it appears that they carry most of the non-NYRA US thoroughbred tracks(many non-TN) plus a couple of dozen Harness and Dog tracks.....much more than a "little content except for the MEC and CHDN tracks".
3. Please provide some documentation/examples on "The settlement charges between RGS and CHDN have been called into question by numerous third parties"

I listened to the CHDN quarterly call, doesn't seem like much of a big deal in the financial world; there wasn't squat of a question asked about this. Anyone can ask a question and no one seemed to care “much ado about nothing.” Especially after all of the recent hoopla with IRG. Looks like CHDN picked the correct road on this one do some work for them but don’t get too close…

[jillybeans]

Happy1, your position with Churchill Downs? Questions by anyone? A Breen Murray analyst asking scripted questions about the weather in South florida? Not one question about why Churchill Downs hired a white collar criminal defense attorney to handle compliance, never a question concerning Churchill downs alliance with RGS, nor any question concerning the settlement payments and exclusive relationship with this offshore client. One of a thousand Churchill Downs clients...perhaps....but as to RGS and their potential effect on Churchill downs i would say RGS made Churchill downs as evidenced by the share price since 2002 and RGS will bring the House of Churchill Downs right back to the ground....:D

[vegasone]

There isn't any reason for RGS to book their own bets. It is pretty much low/no risk running the bets through the pools and taking the difference of cost and payout.

If you have the volume of betting that RGS has, it should be a no brainer. Doesn't cost much more to handle 1 million than 10+ million. Why bother trying to figure out who is winning and losing and book the losers when basically you have a money machine.


Of course greed may get in the way but that is another story.


If you are a handicapper that declares all winnings and pay taxes, there are huge benefits to betting there. You get to keep all your winnings to play with instead of having to pay a cut of your large payouts to the IRS , and then waiting to get it back when you itemize.

[betovernetcapper]

If you are a handicapper that declares all winnings and pay taxes, there are huge benefits to betting there. You get to keep all your winnings to play with instead of having to pay a cut of your large payouts to the IRS , and then waiting to get it back when you itemize.

Gee, I wonder if that may be something that the feds are looking at. :bang:

[jillybeans]

Has anyone ever tried opening an account with RGS? Unlike IRG, RGS only opened for individuals based on confirmation and approval by one of their agents. Is that a distinction? or just another difference?:)