XpressBet to launch rebate shop

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.

Read More

First Look: Way to Be Marie targets Long Island at Aqueduct
That Breeders' Cup hangover hits different when you realize racing never takes a breath. Seven graded stakes across...
Breeders' Cup: Sunday updates from weekend stars
This is how horses across the Breeders' Cup races including Forever Young , Scylla and more came out...
Parchment Party is first U.S.-trained Melbourne Cup runner
History will be made on Monday night when the Bill Mott-trained Parchment Party and hall of fame jockey...
Monday works: Magnitude, Iscreamuscream lead 12 on tab
Magnitude , the impressive Grade 2 Risen Star winner who most recently finished second behind Baeza in the...
Bishops Bay earns fastest figure of day in Forty Niner win
Bishops Bay earned the fastest Horse Racing Nation speed figure on Sunday, a 135, for his game three-quarter-length...