CHRB Approves Exchange Wagering, but delayed

[Southieboy]

will wait for a DRF or Bloodhorse story to pop up, but looks like EW will not be starting until late 2013 or early 2014.

[Joel]

will wait for a DRF or Bloodhorse story to pop up, but looks like EW will not be starting until late 2013 or early 2014.

Source?

(the thoughts in your head don't count)

[Southieboy]

It has been approved, but CHRB staff members suggested they would not anticipate exchange wagering to be available for California residents until the second half of 2013 or early 2014. However, the CHRB's approval of the rule will go to the state's Office of Administration Law, where it could face legal challenges. If no challenges occur, the OAL could give final approval in about two months.

Read more on BloodHorse.com: http://www.bloodhorse.com/horse-racing/ ... z2CKHGrQhh

[MikeFromGardena]

Although this approval for exchange wagering applies only to standardbreds and the quarters, it is still a good first step. For exchange wagering for thoroughbreds the Group and those greedy TOC people have to get on board, but this first step is encouraging.

The Group is correct in asserting that exchange wagering creates the potential for poaching the pari-mutual handle. For example, I absolutely, positively, 100%, no-doubt-about-it came to the conclusion that the Dude would finish behind Flat Out in the Classic. With exchange wagering I probably would have ignored pari-mutual and offered something attractive like 5/2 on the Dude, the bettors would play me for a chump and jump on the offer, and my guy Flat Out would seal the deal. That's the way it worked out, although I got to admit I didn't see the Dude backing up like a kitten on a diving board.

Something can be worked out if all parties want to make a deal. Unfortunately, the TOC takes forever to do anything other than fatten their wallets.

[Aardvark6]

will wait for a DRF or Bloodhorse story to pop up, but looks like EW will not be starting until late 2013 or early 2014.

So what will happen first--exchange wagering, or HP closing for good?

[Southieboy]

Exchange wagering approved by state horse racing board

The California Horse Racing Board approved rules at its meeting at Betfair Hollywood Park that will allow for exchange wagering in the state, as soon as early 2013. Exchange wagering gives gamblers the ability to bet against a horse, or to bet a horse will lose a race. The rules and regulations passed by the CHRB now will go to the state’s Office of Administrative Law for approval. There is expected to be legal challenges to exchange wagering. Owners and trainers have spoken out against the practice in the past.

Josh Rubinstein, the senior vice president of development for the Del Mar Thoroughbred Club, attended the meeting at Betfair Hollywood Park. He said the DMTC is in favor of the sport moving to exchange wagering.

“We (DMTC) are interested in looking at anything that helps horse racing and helps provide the first-class product that we put out at Del Mar,” Rubinstein said. “If exchange wagering is approved, we’ll look at it.”

Trainers like John Sadler have spoken out against exchange wagering. They feel there is a possibility for tainted races or inside cheating in the game.

http://www.utsandiego.com/news/2012/nov ... t&page=all