jnchapel + rebaters   3

XpressBet to spin off rebate shop for high-end players
"The new rebate shop, Player Management Group (PMG), will cater to high-end horseplayers when it opens for operations. The Oregon Racing Commission will serve as the website’s hub, which will include wagering through phone accounts and an Internet platform. XpressBet Inc. President Ron Luniewski said the website will cater to bettors who wager more than $1-million a year. Rebate shops typically reduce the percentage of takeout (the amount of money retained for the ADW website, tracks, horsemen, and taxes) by 10% to 15%."
horseracing  wagering  adws  rebaters  from delicious
january 2011 by jnchapel
Why big bettors enjoy increased takeout
"The California takeout increase was touted as a way to increase the money from handle that went to purses, but all of the increase only goes to purses when the money is wagered in California. As Scott Daruty said at the California Horse Racing Board meeting on January 20, some outlets (e.g. TwinSpires) accepting wagers from outside California are paying as little as 50% of the increase to California purses. If those outlets (e.g. TwinSpires) are keeping the balance of the increase, then they very easily could pass that savings on to its biggest bettors in the form of a rebate."
horseracing  wagering  rebaters  horseplayers  from delicious
january 2011 by jnchapel
High-volume shops make case as wagering study continues
"If we were at the tracks taking customers away, I could see why tracks would have a problem with it. It makes no sense they'd want to eliminate us. On top of that, as opposed to the TVGs and Youbets of the world, we pay a premium for the signal. I think we have the support of the big players in the industry. The ones signing contracts with us must see a benefit to it." See also, Barry Schwartz quote: "I don't think rebate shops are the problem. The problem is our structure -- what we're charging for signals, and the takeout. If takeout rates were more reasonable, places wouldn't need rebates." [From 2004]
horseracing  wagering  adws  rebaters  horseplayers  from delicious
january 2011 by jnchapel

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