Thanks 100cfm for:
>Expect TVG to be in 25-30 states by yr end. TV gambling was just made legal in CA.
Expect to go international with TVG
Happy with Magna winning OTB. Management feels Magna has to cut a deal with GMST due to their blocking patents and deal with NYRA. They've created high barriers to entry via deal with UBET.<
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Gray Davis signed legislation Monday and account wagering (I assume this means telephone, internet and interactive) will begin January 1, 2002 in California. Would expect other states to fall into line since Davis noted in signing the legislation that his lawyers tell him that it passes Federal statutes.
Certainly, as well, it is logical for TVG and Stronach's Magna to sit down and iron out their differences. At present, TVG patrons can't bet on Santa Anita and Gulfstream and Magna's can't bet on NYRA's Saratoga, Belmont, Aqueduct and a dozen others locked up by TVG.
As for UBET, I don't quite understand Boylan's reference. TVG bought 20 per cent of UBET, a $1 stock but which has a substantial number (14K?) of devoted paid members and, apparently, some pretty good software for which GMST makes a little money through patent licensing.
TVG going international? TVG has taken wagers on major races on occasion from Dubai when US runners were involved. But that's not "going international." Seems to me--and what do I know-- best to build up Stateside patronage beyond the four states in which it now accepts wagers.
Naturally, everyone isn't happy with Davis' decision. Tracks fear a dimunition in live attendance. The take from a wager made electronically--rather than through the track pari-mutuals--has to be shared with a number of fingers. That might mean less money for purses. In order to get horsemen behind the legislation, TVG has guaranteed "in principle" to make up for any losses the CA tracks might suffer. Now, that's confidence. |
