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rwwupl
08-03-2011, 02:16 PM
http://www.chrb.ca.gov/press_releases/2011_08_03_press_release.pdf

Excerpt:

CHRB SEEKS INPUT ON EXCHANGE WAGERING RULES



SACRAMENTO, CA – The California Horse Racing Board is soliciting input in its development of rules pertaining to the regulation of exchange wagering, which is defined as a form of pari-mutuel wagering in which two or more persons place directly opposing wagers on the outcome of a horse race.

Under a new provision in the California Horse Racing Law adopted last year (SB 1072), the CHRB may authorize exchange wagering to begin no sooner than May 1, 2012, provided racing associations and horsemen reach an agreement with one or more exchange wagering companies. No such agreements have yet been reached; nonetheless, the CHRB is required by law to develop exchange wagering rules and regulations that are in the best interest of the public and the California horse racing industry. Accordingly, the Board is soliciting written comments and/or studies concerning the impact of exchange wagering on pari-mutuel wagering and the economic impact on California’s horse racing industry. All written materials submitted to the Board will be used to assist it in developing exchange wagering rules and regulations.

The 60-day written comment period commences on August 4, 2011, and will close at 5:00 p.m., on October 2, 2011. Submit written comments to: Harold Coburn, Regulation Analyst, California Horse Racing Board, 1010 Hurley Way, Suite 300, Sacramento, CA 95825, Telephone (916) 263-6397, Fax: (916) 263-6022, E-Mail: haroldc@chrb.ca.gov





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cj
08-03-2011, 05:02 PM
Don't screw it up by taking more than 5 or 6%. How is that for input?

Canarsie
08-03-2011, 06:36 PM
Don't screw it up by taking more than 5 or 6%. How is that for input?

Agree 100% but from what I've read it's a pipe dream for that to be achieved.

DJofSD
08-03-2011, 06:41 PM
Roger, what, if anything, do we know about the computer based services that makes this possible? State owned? State run? Contracted? Competitively bid? Fait accompli?

rwwupl
08-03-2011, 07:43 PM
Roger, what, if anything, do we know about the computer based services that makes this possible? State owned? State run? Contracted? Competitively bid? Fait accompli?

The CHRB has a contract with "Sportech" for this type of programing..a private Co.... They bought out "Scientific Games" a while back.

They are going to need time and the record is spotty.

Stillriledup
08-03-2011, 10:43 PM
If they're going to take a bigger cut than what Betfair takes, i'm not sure who's going to even bother betting with them.

cj
08-03-2011, 11:05 PM
Agree 100% but from what I've read it's a pipe dream for that to be achieved.

If they take much more, it will fail. Maybe that is the goal.

highnote
08-03-2011, 11:44 PM
If they take much more, it will fail. Maybe that is the goal.


First, California tells us that horse racing is entertainment that has to compete against the Dodgers and Lakers and that it is not gambling. And now they tell us exchange wagering is pari-mutuel. :D

If that is the case then it should be legal anywhere there is pari-mutuel wagering. What the hell are they waiting for?

Hell, I may just set up an OTB and start offering exchange wagering. :ThmbUp:

Canarsie
08-04-2011, 07:16 AM
If they take much more, it will fail. Maybe that is the goal.

These two with some info are direct PDF files and virus free.

www.thoroughbreddailynews.com/restricted/pdf/oped/oped110205.pdf

www.harnessracingupdate.com/restricted/pdf/hru/hru020411.pdf

Here's the link to the Google search


http://www.google.com/#q=exchange+wagering+takeout+betfair+stephen+burn&hl=en&tbo=1&prmd=ivns&source=lnt&tbs=qdr:y&sa=X&ei=un06To2mIIbfgQez2K3PBg&ved=0CA4QpwUoBQ&bav=on.2,or.r_gc.r_pw.&fp=661c0b1152c259b4&biw=1173&bih=742

highnote
08-08-2011, 03:02 AM
SACRAMENTO, CA – The California Horse Racing Board is soliciting input in its development of rules pertaining to the regulation of exchange wagering, which is defined as a form of pari-mutuel wagering in which two or more persons place directly opposing wagers on the outcome of a horse race.



I've thought about this for a few days. I still don't get it.

Major premise: Pari-mutuel wagering is legal.

Minor premise: Exchange wagering is pari-mutuel.

Conclusion: Exchange wagering is legal.

Is my logic wrong?

rwwupl
08-08-2011, 10:22 AM
I've thought about this for a few days. I still don't get it.

Major premise: Pari-mutuel wagering is legal.

Minor premise: Exchange wagering is pari-mutuel.

Conclusion: Exchange wagering is legal.

Is my logic wrong?


They probably should come up with another name ,a FORM of pari-mutuel wagering is not very descriptive of the facts.

I think I could make the case that we do not have any pari-mutuel wagering as it was intended to be anymore... it has been modified and is not pure.

No wagering is legal until the CHRB (in California) approves it, and the SB1072 says not before May, 2012.

highnote
08-08-2011, 01:25 PM
They probably should come up with another name ,a FORM of pari-mutuel wagering is not very descriptive of the facts.

I think I could make the case that we do not have any pari-mutuel wagering as it was intended to be anymore... it has been modified and is not pure.

No wagering is legal until the CHRB (in California) approves it, and the SB1072 says not before May, 2012.


A good example of how corrupt things have become. Pari-mutuel is legal. So let's say a pari-mutuel betting exchange starts up here in the U.S. Who would complain the loudest? Those who stand to lose the most money. They would complain to the authorities and the exchange would be shut down and the operators arrested.

However, if the operators take their time and pay the right lobbyists -- lobbyists with the right connections -- and also send some contributions to various political campaigns -- then the betting exchange will eventually become "legalized".

So it boils down to money -- who has it, who gets to keep it.

Look how long it has taken NYRA to get slots. First, the fight over who would get to make the money had to be settled.

Yonkers Raceway got slots several years ago. Now they are adding table games. If table games are OK now, why weren't they OK 10 years ago?

Land based casinos are now trying to get into the online gambling business because they realize how profitable it is and there is lower overhead. First, though, they have had to convince politicians to shut down online casinos. Once the competition is removed the land based casinos can step in to steal the market.

The whole political system is corrupt from top to bottom and not just in racing and gambling. It's probably been this way forever. It just seems worse than I can ever remember it being in my lifetime.

I don't know how many people Betfair employs, but I assume it is quite a few. This type of business could have been running in my own back yard here in Connecticut back in 1999 had politicians and monied interests not been so shortsighted. I would have started one then, but I knew I'd be thrown in jail for trying.

However, thousands of jobs would have been created and the business would have been the envy of the state. But you can't just start up a business nowadays. You have to pay off the right people and mainly the state.

Is it a wonder the U.S. economy is in the toilet? It's not a free enterprise country -- it's a pay to do business country.

That's my rant for the day. :D