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Remote Wagering Slow But Steady in California

"But it hasn't been the salvation some backers had predicted -- at least not yet.

"`For people who thought account wagering was going to turn everything upside down, that hasn't happened,' said Mike Marten, spokesman for the California Horse Racing Board. `It's new money, but it's not a gold mine yet.'

"…Account wagering's slow start may reflect the slumping economy and pace of the horse racing season as much as it does the state of the ancient sport, said Marten and other observers.

"…`The numbers are increasing, if not by staggering amounts, then steadily,' Marten said.

"When account wagering began, the president of one of three authorized account wagering companies, Mark Wilson of TVG, said it `could be the start of a new era in California racing. ... Maybe this will bring the game back to the status it had years ago.'

"But it could take five to seven years to see if account wagering revives horse racing, said Ed Hannah, vice president and general counsel of XpressBet, another online company.

"XpressBet's new accounts leveled off after growing `quite significantly, quite quickly' in the first month or so, Hannah said.

"…Horse racing's future may hinge on whether account betting attracts new gamblers, or `cannibalizes' existing fans of a largely dormant industry who were limited to wagering at the tracks, Indian casinos, and state and county fair betting pavilions.

"…What's more, track owners are counting on account wagering to bring those new customers to the see the races in person.

"…The California law passed the Legislature nearly unanimously last year and was signed by Gov. Gray Davis a year after he vetoed a similar measure. Gambling opponents objected that lawmakers are trying to prop up a dying industry that hasn't found a way to appeal to a younger generation…"

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