Join Now Login
Logout

ADWs - Advance Deposit Wagering


Advance Deposit Wagering - ADWs

Advance Deposit Wagering, also known as "ADWs" and "Account Wagering" include online facilities that accept wagers on horse races once the bettor's account has been funded-- ADWs should not be confused with "Credit Shops" which allows the bettor to place wagers on credit and then settle at the end of the month.

All Horse Racing does not extend credit to its members-- all accounts must be funded before members can begin betting for real money on live horse racing.

4 state tracks reach deal on advance-deposit bets

Balmoral Park, Maywood Park, Hawthorne Race Course and Fairmount Park in Collinsville, Ill., have entered into an agreement with Youbet.com to offer advance-deposit wagering and online betting.

"We're planning a spring launch," Balmoral President John Johnston said Thursday. "Advance wagering has been going on in Illinois for years. We've been sticking our heads in the sand."

The agreement calls for the betting revenue to be split among between the tracks, the horsemen and Youbetillinois.com, and the state will receive its cut just as it does on in-state and out-of-state simulcasts to off-track betting parlors.

In November, a subsidiary of Arlington Park's parent company Churchill Downs Inc. called TwinSpires.com, bought Winticket.com, BrisBET.com and Tsn.BET.com for $80 million, took over their advance accounts and started accepting wagers in Illinois.

Under the TwinSpires format, the horsemen's share is subject to collective bargaining.

"We have to go forward to compete," said Jim Hannon, director of simulcasting at Balmoral and Maywood. "Advance-deposit operators have been doing business in Illinois since 1999. We estimate close to $100 million left the state in 2007.

"Our position is that it's legal in Illinois. However, it needs to be clarified through legislation so the state, tracks and horsemen get their fair share and so that it can be regulated by the Illinois Racing Board. Right now it's going on and the state, tracks and horsemen aren't getting anything. We have to compete because other people are doing it, but it's not the savior of racing."

Among the Youbet board of directors are two high-profile Illinois residents, former Gov. Jim Edgar and Jay Pritzker, chairman of the Chicago Olympic Committee and a member of Northwestern's board of trustees.

Edgar's political connections may come in handy because in 2001 former Illinois Atty. Gen. Jim Ryan issued a 21-page opinion stating that account wagering violated state law. However, out-of-state entities ignored the opinion and continued to accept telephone and Internet bets.

"We're a gray state," said Illinois Racing Board Executive Director Marc Laino when asked about the statutory legality of the Youbet and TwinSpires ventures. "There's nothing expressly prohibiting it, and there's nothing authorizing it."



Horse Racing News

racing news icon

Horse Racing News

Tue April 26, 2016
OZONE PARK, N.Y. - Luis Saez was the seventh leading rider on the New York Racing Association circuit in 2015 with 115 wins, eight of those coming in stakes.
Tue April 26, 2016
CYPRESS, Calif. - The brawler in Uptown Twirl was on full display in Sunday’s $75,000 Surfside Stakes at Los Alamitos.Uptown Twirl held an early lead in the six-furlong race for 3-year-old fillies, but fought back when headed in the stretch by Moment Is Right. Racing on the inside, Uptown Twirl was passed before the eighth pole, but retook the lead in the final sixteenth.
Sat April 23, 2016
Use him for a windbreak, a coat rack, a barn doorstop. It doesn’t matter to California Chrome as long as you set him free in his paddock for most of the day and have a bag of Mrs. Pastures horse cookies handy on demand
Wed April 20, 2016
OZONE PARK, N.Y. – Trainer Jim Ryerson was just as surprised as everybody else when Always Sarah returned from an eight-month layoff to win a six-furlong maiden race Feb. 11 as the longest shot in a five-horse field. Ryerson’s surprised reaction was not because he didn’t think the filly had talent but because he thought she would prefer going a longer distance.
Tue April 19, 2016
A fever will prevent the champion Songbird from starting in the $1 million Kentucky Oaks at Churchill Downs on May 6.
Mon April 18, 2016
OZONE PARK, N.Y. - Jose Ortiz continued his dominance of the Aqueduct spring meet on Saturday, winning four more races, including the $100,000 Plenty of Grace Stakes on Mrs McDougal, who received a perfect stalking trip.