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Advance Deposit Wagering Growing in California

26 July 2002

CALIFORNIA – As reported by Bloodhorse.com: "The percentage of California handle attributed to advance deposit wagering (ADW) is slowly growing, with 5.7% of in-state handle now traced to bets made through one of three account wagering providers, the California Horse Racing Board was told during its regularly scheduled monthly meeting on Thursday in Del Mar. Total ADW handle through July 6 is $66.3 million.

"TVG has the highest number of California account holders and largest handle to date, with nearly 14,000 Californians opening accounts and the TVG system handling $33.8 million in wagers in 2002.

"…Magna Entertainment-owned Xpressbet has just over 11,000 account holders, 9,437 of whom are California residents. Xpressbet.com officials said the company has handled $24 million.

"…Youbet.com officials said they now have 9,000 account holders in California and have handled $14.1 million in wagers since being approved to operate in the state…"

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