06/28/2014 12:32PM

CHRB sends cease-and-desist orders to TwinSpires, Expressbet


The California Horse Racing Board recently notified account wagering providers TwinSpires and Xpressbet that they were in violation of California laws allowing bettors to pool monies to third parties who then placed wagers on their behalf.

In a statement released Friday, the racing board said its officials sent cease-and-desist orders notifying the account wagering firms of the violation.

Known as players’ pools, funds are forwarded by individuals to a third party who later places bets. The monies are frequently used for jackpot bets such as pick five or pick six wagers.

In its statement, the racing board said players’ pools are classified as bookmaking through the California penal code and, therefore, a violation of state law.

Robert Clayton More than 1 year ago
They should be happy anybody wants to wager anything into a horse racing pool these days.....People are leaving this game in droves.....Is there any question why? Now they don't even want your bets.....Im sure the whales who play the big tickets are carryover days and bet the bulk of the money are behind this.....These small syndicates hamper their chances of taking down a whole pool because they somewhat level the playing field
Joe More than 1 year ago
Actually Andy the guys at Twinspires Ed Derosa and Michael Beychok are 2 of the best handicappers as well as the utmost integrity . The pools help the little guy and are extremely fun to play in. Xpressbet and Keeneland Dan known on twitter and around country as TheFatBaldGuy just started doing pools not even 6 months ago and have already hit a few pretty large P6's. Dan again is a handicapper with integrity that does the pools to help the small players like myself that don't have the time to spend and don't have the money to spend. I play in both pools and I love the thrill of being a part of larger tickets. Twinspires pools are way bigger then XPressbet but both are fun. Andy you are trying to knock these guys and act like they are doing something wrong when in fact they are helping the industry and helping the small players get more involved. There is nothing unethical about what these 2 ADW's are doing, its the CHRB that needs to get that terrible rule changed and get into 2014. California needs t look into their own tables at SA and Delmar as just about every pic 6 ticket bet out their is a pool of guys. They have their head in the sand to think otherwise.
racetrackandy More than 1 year ago
Ed is the Marketing Director at Brisnet. Can you tell me of any big tournament wins like Beychok or any big scores that he's made that qualify him to bet over 100K of other peoples money? Why don't they ever post their ROI? Are they betting their own tickets on the side? How are they compensated? Ed is an employee of Brisnet which is owned by CDI. There is no transparency, no apparent ethical rules, and they lost of bunch of money for people chasing the Rainbow Six. I don't have a problem with them doing it on normal P6 carryovers but the Rainbow Six pools were a travesty and all they did was give inexperienced Players a poor experience. The industry needs to help novice players get into higher churn wagers not lottery type wagers. Don't have a problem with Beychock other than he is making a mistake lending his name to Twin Spires and Churchill Downs in my opinion. and don't know much about Keenland Dan. I do know that just because you say things are on the up and up doesn't mean they are. Do you think something similar like a stock group or mutuel fund would have this little transparency?
racetrackandy More than 1 year ago
The Team Captain is a Brisnet Employee and Brisnet is also owned by Churchill Downs Inc. Another problem is how the team members are compensated. Do they play their own tickets on the side? No R.O.I posted either. Besides it being unethical it is also probably illegal in Louisiana and many other States. Oregon is currently investigating the matter and other States will follow.
AGamblingLife More than 1 year ago
The CHRB is totally wrong here. If anything these players pools promote racing. They enable players to invest in sort of a mutual fund with small amounts. Then they get the selections of the panel and most likely would wager on individual races which goes right into the pools of the tracks. It doesn't make sense. Every day at every racetrack in the country players go partners with each other on these types of wagers. Whats next sequester every person putting in a p6 ticket? And if I'm not mistaken, doesn't Twinspires players pools stay out of Ca pools? Maybe the CHRB should change their name to CICB (Ca Indian Casino Board), because they certainly don't represent the interests of horse racing.
Joe More than 1 year ago
Agree and the guys at Twinspires and Xpressbet are promoting horse racing and doing nothing wrong all the handicappers from both places are doing their best to hit. Both spots have good guys and solid handicappers that put in a lot of hours. I agree CHRB is in the wrong
AGamblingLife More than 1 year ago
These players pools do not have an unfair advantage. If anything they are good for the small player. Twinspires put big money into the pools on horses that have virtually no chance. Anytime you hit the all box you are wasting money. So by my accounts, they are creating value. Look at the P6s at GP when they were playing just about every day. Do the math on the payouts (leg a*b*c*d*e*f)/10 and then look at the payoffs. I guarantee you that the parlay paid way less than the actual payoffs every day (and that was even after the split the goes into the jackpot) And this statement is coming from someone that was part of the players pool panel. Even in handicapping tournaments, the guys that have multiple entries do not have an advantage. I would rather have my 1 entry against a guy with 9 entries, because a guy with 9 entries is only trying to beat you with 1 of them. If you took 9 separate players against you, they are all trying to beat you. They will certainly win more often than you, but they need to win 90% of the time. You would only need to beat them 10% of the time to break even. And this is coming from someone that has rarely played more than 1 entry in tournaments and has banked over a quarter million in tourney earnings.
Patricia Doyle More than 1 year ago
A ? What if Twin spires and Xpress bets continue? Can the CHRB refuse to allow Twin spires and Xpress bets to carry California racing and betting? Somehow it is always the small time bettor like myself that gets the dirty end of the stick. Bring back the good ole days of the candy store bookie. Things did not seem so complicated then as long as the bookie paid the right people off. lol
tukwilatommygun More than 1 year ago
Nor was the 24 percent take out figured into your own incompetence.
slewof damascus More than 1 year ago
From an ethical perspective I wish these syndicates didn't exist, because it tips the scales to the advantage of those who can severely multiply their chances, but I'm not sure there is anything illegal about it? It's like the tournaments where they allow customers to purchase more than one entry and thereby hedge their bets. I have no respect for either endeavor from a handicapping perspective. I refuse to play tournaments for that reason. Nor do I pool my money for syndicate play. It is not handicapping. It's hedging. But those large carryover days bring quite a bit of dead money to the other pools where I play. Quite honestly, I focus on win wagering primarily, and high-dollar exactas/doubles/pick3s only when the plays come to me. I have no desire to cash a wager that brings unwanted attention to what I am doing, if you catch my drift, but that doesn't mean I can't have spectacularly-productive days when it all comes together, in fact those are the days that I make the majority of my yearly cash income. I prefer to work in the margins away from the limelight of big pick-6 scores.
. More than 1 year ago
How they missed hitting the 6 million payout at GP with all that money should tell you. Pick your own horses.
George More than 1 year ago
That particular wager requires more luck than skill. Might as well just by a lottery ticket.
far left liberal nut job More than 1 year ago
Almost every every largevpick 6 won in CA involved avteam effort. Who r these moes kidding?
russell More than 1 year ago
Not sure I understand this? Is the CHRB saying that people can't form a syndicate to take down a big P6 or Rainbow Millions pool?
[removed] More than 1 year ago
This comment has been deleted
TEDK215 More than 1 year ago
kelly More than 1 year ago
who r these people
Leslie Burke Fernandes More than 1 year ago
Howard Schwartz More than 1 year ago
Why don't you get an honest job and live a decent life? Who pays you to make a fool of yourself? Have you no shame? Please start living right.