Racing And Gaming Law Conference Returns With An Interactive, Discussion-Based Feel

This year, as regulators and racing/gaming executives make their annual summer pilgrimage to Saratoga Springs, N.Y., another edition of a long-running law conference will be on the agenda for many. Launched in 2001, the Racing and Gaming Conference at Saratoga will see its second edition under new management this year Aug. 15-17.

Attorney Patrick Brown, co-founder of Brown & Weinraub, fully took over the popular event from the Albany Law School ahead of last year's edition.

Find some of our archived coverage from this conference here, here, and here.

After many years being involved with organizing it, Brown said he's learned a few lessons from running it himself, many of them logistical. The event will return to the Saratoga Hilton after being held at the 1863 Club on the racetrack's dark days last year.

Brown has continued the gradual shift of the event away from law school-style lectures (though the event still does offer continuing education credit for attorneys) and more discussion-based panels.

“The conference is not intended to be a mere lecture hall, but more a salon,” he said. “A place where smart, committed people exchange ideas on topics of mutual interest; formally in the large panel sessions and informally in smaller groups in the hallway. The goal is to not only report on the latest changes in law and regulation but to inform the discussion leading to the next law or reg.

“To accomplish our goals we must find speakers who are not only capable of telling the audience what happened last year, but willing to risk an opinion on what ought to happen next year. I am very pleased with the group of speakers we have assembled for the conference this year and look forward to a robust exchange of ideas.”

This year's agenda will include one and a half days of sessions, one of which will be focused on various forms of gaming. The half day on Aug. 17 will examine racing topics.

Why the shift towards more gaming-focused sessions?

“The conference has evolved over the past two decades,” said Brown. “When the conference began in 2001, parimutuel wagering on horse racing and the lottery were the only legal wagering opportunities available in New York. VLTs had yet to be approved by the legislature. The conference was a single day, dealt almost exclusively with New York horse racing, and was geared to lawyers and legislative staff. Twenty-two years later, wagering on horse racing does not stand alone; it is part of a broad array of gambling options. New York does not stand alone; gambling proliferation and therefore regulation is national and international. And, the issues confronting the gambling industry are not purely legal, sometimes they are not legal at all.

“Last, this year particularly, many of the 'nuts and bolts' horseman issues we might address are being covered at the Thoroughbred Owner Conference being held in Saratoga in late July. Rather than duplicate the excellent work being done there, we placed our priorities elsewhere this year.”

Tuesday's sessions include panels looking at the downstate casino expansion, the future of sports betting, and online casinos. Wednesday's racing sessions include looks at HISA, the impacts of NFTs and the Metaverse on horse racing, fixed odds wagering, and aftercare.

To see the full agenda, click here.

Register for the event here.

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Penny Breakage to Begin On Kentucky Races July 15

From the Thoroughbred Idea Foundation

Bettors wagering on racing from Kentucky will enjoy returns paid to the penny beginning Friday, July 15. The Kentucky Horse Racing Commission confirmed to the Thoroughbred Idea Foundation (TIF) the shift will take effect this week, three months after legislation enabling the change to penny breakage was passed by the Kentucky General Assembly and signed into law.

“This is a welcome and long overdue shift in pari-mutuel wagering to pay bettors the entirety of their duly deserved winnings,” said Patrick Cummings, TIF's Executive Director. “Kentucky is leading the way, and if a horseplayer wants to enjoy the entirety of a winning dividend, they should be betting on races run in Kentucky. This will be the first time in American history a racing jurisdiction is requiring payment to the penny for all wagers and we hope it will not be the last. This should put more money in the hands and accounts of horseplayers and inspire additional churn, something everyone across the sport should seek, yet remarkably eludes us as churn-killing super exotic bets and jackpot bets have expanded. We are incredibly thankful for the efforts of Kentucky Representative Adam Koenig, bill co-sponsor Representative Al Gentry and Senator Damon Thayer for their support over the years to bring this topic to the fore. They continue to look out for the best interests of horseplayers and the greater sport.”

For the modern history of pari-mutuel wagering in American racing, winning dividends have generally been rounded to the lowest 10-cent unit, with limited exceptions. Going forward, the dividend is rounded to the lowest penny.

Until now, if the unbroken return on a show bet was $1.4854928, the return for every $1 unit was rounded down to $1.40. A $2 bet returned $2.80.

Beginning Friday, in the above example a winning bettor would receive $1.48 for every $1. A $2 bet in this example would return $2.96, a meaningful increase in the profit returned to customers.

The campaign to bring penny breakage to horseplayers was the topic of the first white paper in TIF history. It can be reviewed by clicking here.

“This effort would not have been possible without the tireless support of TIF Founder and Glen Hill Farm President & CEO Craig Bernick, who has been so remarkably driven to improve American horse racing for its voluntary financial participants–horseplayers and horse owners,” Cummings said. “If we make the sport better for them, the benefits trickle to every corner of the industry.”

An estimated $35 million was collected and retained as breakage from Kentucky races over the last five, full fiscal years. Under the new law, nearly all of that money would go back to winning bettors.

“Breaking to the penny will put millions of dollars back into the hands of horseplayers each year, wherever they are betting on Kentucky racing,” Cummings added. “Until other states make the change, Kentucky will have the advantage.”

Kentucky tracks and horsemen split on-track breakage in the past, while off-track bets and ADW bets saw breakage retained by the respective bet-taker. Going forward, all bettors of races run in Kentucky will enjoy a full winning dividend rounded to the penny. Sub-penny breakage will still be retained.

The post Penny Breakage to Begin On Kentucky Races July 15 appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.

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Roulette For Beginners

If you aren’t a roulette player, but have walked past a busy roulette wheel in a casino, you may have wondered what all the excitement and commotion was. There is definitely something almost magical and mesmerizing about the spinning wheel and sound of the Ivory ball clinking around and finally settling into one of the pockets. Here is an introduction to the game of roulette for new players.

There are two different types of popular roulette wheels. The most common wheel in the United States is a double zero wheel called American roulette. The American roulette wheel contains the numbers 1 through 36, a 0 and a 00. This creates a house edge of over 5%. The wheel that is most common worldwide is a single zero wheel that is usually called a European roulette wheel. They contain a 0 and the numbers 1 through 36. The house edge on a European wheel is about 2.5%.

You can place a wide range of bets on each roulette spin, offering a wide range of payouts. Here are the most common bets and payouts.

Straight / Single number 35 to 1
Split / Two numbers 17 to 1
Street / Three numbers 11 to 1
Square / Four numbers 8 to 1
Line / Five numbers 6 to 1
Line / Six numbers 5 to 1
Column / All 12 numbers 2 to 1
Dozen / ex 1thru 12 2 to 1
Odd Even Black or White 1 to 1
High (19-36) or Low 1 to 1

With the growth of online casino play, more and more people are playing roulette online. One of the biggest drawbacks for the online roulette player is the bonuses offered by most casinos can’t be cleared playing roulette. Remember to always read the terms and conditions of any bonus before accepting it.

So if you have always wondered what all the excitement was about, step up to the nearest roulette wheel and place a bet. Good luck!

Indiana Barn Fire Seminar Approved For HISA Continuing Education Credit

The Indiana Thoroughbred Alliance (ITA) is proud of have the approval from the Horseracing Integrity and Safety Authority (HISA) for three credit hours for continuing education for its barn fire seminar that will be held on Saturday, July 16. This seminar will present what horsemen and barn owners need to do to be better prepared for a fire and will be hosted in the Family Pavilion at Horseshoe Indianapolis in Shelbyville, Ind., at 10:00 a.m.

“We are so grateful that HISA sees the value in our seminar to grant local horsemen the opportunity to earn three hours in person at their home track,” says Christine Cagle, ITA board member and Thoroughbred farm owner.

According to the HISA Trainer's Handbook, all trainers and assistant trainers are required to complete four hours of continuing education every year. The approved continuing education programs will be identified on the HISA website, which includes online courses.

“Because the ITA feels so passionately about educating everyone not only in the Indiana horse racing industry, but across the country, about barn fires, it was a big goal for us to garner this accreditation from HISA,” continues Cagle.

The National Horsemen's Benevolent and Protective Association (HBPA) is also partnering with the ITA to sponsor and share the seminar on its website once the seminar has been recorded and archived.

“We found a source to help us livestream and record the seminar, thanks to ShowBarnFlix.com, so this seminar can continue to educate barn owners long after July 16,” says Megan Arszman, communications and media relations liaison for the ITA.

The livestream of the seminar will begin at 10:30 am EDT and can be found on ShowBarnFlix.com or on the ITA Facebook page: Facebook.com/IndyThoroughbred.

However, as of press time, HISA credits can only be earned if attending the seminar in-person at Horseshoe Indianapolis on July 16.

Topics covered for the seminar will include discussing the legal ramifications of a barn fire with Peter. Horsewoman and insurance expert Kim Green with Schuetz Insurance will share the insurance information you didn't need to know. Horse owners will learn about rescuing, emergency triage and what to do with the animals in the midst of the fire with firefighter and certified large animal rescuer Denise Fletcher. And, finally, member of ATF and horsewoman Cassandra Jones shares tips on what you can do to prevent and battle barn fires.

Attendees will be treated to lunch on the breezeway of Horseshoe Indianapolis and everyone will be eligible for giveaways provided by sponsors such as the ITA, Finish Line Horse Products, the Quarter Horse Racing Association of Indiana, the Indiana Standardbred Association, Murphy Trailer Sales and others.

The seminar is free, but registration is required. Registration can be done by clicking on the EventBrite link: https://www.eventbrite.com/e/barn-fires-what-you-think-you-know-but-dont-tickets-355520159367

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