andymays
12-07-2009, 12:33 PM
Horsemen Seek Involvement in Betfair Deals | BloodHorse.com
http://www.bloodhorse.com/horse-racing/articles/54301/horsemen-seek-involvement-in-betfair-deals
Excerpt:
Thoroughbred horsemen plan to meet with Betfair officials Dec. 7 to ensure they are party to contracts the Great Britain-based company is signing with United States racetracks for their content.
The National Horsemen’s Benevolent and Protective Association has hosted Betfair officials multiple times over the last several years, and the officials have told horsemen’s groups they are willing to work with them in expanding the wagering marketplace. The situation took a major turn earlier this year when Betfair purchased the U.S.-based TVG advance deposit wagering platform and racing network.
Excerpt:
Powell said a customer earlier this year hit a near seven-figure pick six at Santa Anita Park and was paid immediately by RGS. Santa Anita owner MEC was pursuing bankruptcy protection, so the funds were tied up and RGS was treated as an unsecured creditor.
“If the system is going to work, everyone has to get paid,” Powell said. “You can’t tell a customer, ‘You won, but you’ll have to wait to get paid.' There is no integrity. People are literally borrowing against (customers’ winnings). Most tracks have gotten into the habit of being slow payers on purpose.
“It’s almost embarrassing. It’s 2009, and the industry pays like it is 1935.”
http://www.bloodhorse.com/horse-racing/articles/54301/horsemen-seek-involvement-in-betfair-deals
Excerpt:
Thoroughbred horsemen plan to meet with Betfair officials Dec. 7 to ensure they are party to contracts the Great Britain-based company is signing with United States racetracks for their content.
The National Horsemen’s Benevolent and Protective Association has hosted Betfair officials multiple times over the last several years, and the officials have told horsemen’s groups they are willing to work with them in expanding the wagering marketplace. The situation took a major turn earlier this year when Betfair purchased the U.S.-based TVG advance deposit wagering platform and racing network.
Excerpt:
Powell said a customer earlier this year hit a near seven-figure pick six at Santa Anita Park and was paid immediately by RGS. Santa Anita owner MEC was pursuing bankruptcy protection, so the funds were tied up and RGS was treated as an unsecured creditor.
“If the system is going to work, everyone has to get paid,” Powell said. “You can’t tell a customer, ‘You won, but you’ll have to wait to get paid.' There is no integrity. People are literally borrowing against (customers’ winnings). Most tracks have gotten into the habit of being slow payers on purpose.
“It’s almost embarrassing. It’s 2009, and the industry pays like it is 1935.”