JC / Railbird

Betting Archive

OTB Future Looks Dire

The New York City OTB is considering “several doomsday plans” to halt the flow of red ink, including closing up to half of its betting parlors, merging with other betting outfits, and laying off employees. “Records show that OTB turned a profit of $123 million last year but still ended up $9.5 million in the hole, after NYRA and others in the state racing industry took $95 million, the state and city took $35 million, and more than $2 million was spent on miscellaneous expenses.” (New York Daily News)

Posted in Betting on December 23, 2004

Playing the Market

Dallas Mavericks owner Mark Cuban has a new venture: “I’ve decided to start a new hedge fund. However, this hedge fund won’t invest in stocks or bonds, or any type of business. It’s going to be a fund that only places bets. A gambling hedge fund.
“It won’t be me figuring out what bets to place, or what games to play. This is a fund. I will find the best and the brightest, with a confirmable track record and hire them.
“It’s an idea whose time has come.” (BlogMaverick.com)
More: “Cuban to gamble on fund that could target racing” (Thoroughbred Times)

Posted in Betting on December 3, 2004

Windfall

The 2003 Breeders’ Cup was a very lucky day for South Dakota resident Graham Stone, who, with his business partner Will Dixon, held the sole winning Pick 6 ticket. “The Stones were renting their house and now they own one about a minute away. They bought an SUV. Took the first family vacation in 17 years. He hasn’t repaired any jewelry in six months and is thinking about what else might be out there for him. Amazing what you can do with $8.” (New York Daily News)

Posted in Betting on October 27, 2004

An $8 Return on a $20 Bet

That’s the best Keeneland’s new Mutuel Fun wager did over the weekend. (Courier Journal)

Posted in Betting on October 12, 2004