XpressBet to spin off rebate shop for high-end players - Thoroughbred Times: "Already an owner of racetracks, a tote company, and the XpressBet.com advance-deposit-wagering platform, Frank Stronach will launch a rebate shop for high-end horseplayers on Monday.
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%.
“We don’t plan to recruit players from other sites or tracks. We plan to target players who are currently wagering at offshore sites, whether they’re betting through licensed operations or book-making operations,” Luniewski said.
Some offshore sites send wagers into the pari-mutuel pools “licensed operations” while others book the wagers on their own and return nothing to the industry."
Posts
0 comments:
Post a Comment