Youbet.com, the online horse race wagering company that also owns one of the three dominant bet-processing companies in the U.S., had net income of $1.2 million in the first quarter of 2009, up 51 percent compared to net income of $800,000 in the first quarter last year, according to financial statements released by the company Wednesday.

The economic malaise that is dragging down the state of Michigan has spread from horsepower to horses. The home of the now-bankrupt Chrysler Corp. and the teetering-on-the-brink General Motors Corp. struck a serious blow to its horse racing industry on Tuesday when an executive order from Gov. Jennifer Granholm wiped out $1.4 million earmarked for state Thoroughbred programs in 2009.

Wagering on U.S. horse races declined in April by more than $100 million compared with the same month last year, a 10.1 percent drop, according to figures released by Equibase on Monday.

Purses also declined at a similar rate, dropping 9.2 percent, from $90,659,342 in April 2008 to $82,285,129 this April. Although purses have been more resilient to declines in wagering over the past year because of subsidies from slot machines, the declines are beginning to match up because of precipitous declines in casino-type gambling during the current recession.

A conflict between two groups of account-wagering companies that has frustrated racing fans for two years appears to have ended.

Inside of Gate 17 at Churchill Downs, visitors can handle jockey helmets, whips, and safety vests at an exhibit called "Safety From Start to Finish." Audio and video presentations tell about Churchill's attempts to make its track safer for horses and riders and to help gather data on track maintenance and racehorse injuries.

The 2009 Breeders' Cup remains scheduled for Nov. 6-7 at Santa Anita Park in Southern California following a Delaware judge's affirmation of the organization's host agreement with the operator of the track during its fall meet, the Breeders' Cup said Wednesday.

Wagering through New York City Off-Track Betting Corp. and its account-wagering platform was shut down Wednesday afternoon after a wagering glitch treated thousands of bets placed by patrons as if they were 100 times the face amount, according to officials at OTB and its bet-processing company.

A coalition of racetracks and racing organizations have pledged to provide the funding for a Maine-based laboratory that will conduct research into racetrack surfaces and their maintenance, the coalition announced on Friday.

Magna Entertainment Corp. and its bankruptcy attorneys criticized Maryland Gov. Martin O'Malley's bid Wednesday to assert eminent domain powers over the Preakness Stakes at Pimlico Race Course, saying passage of the legislation could lead to more litigation.

LOUISVILLE, Ky. - Speaking before a racing safety information kiosk just inside the entrance to Churchill Downs, National Thoroughbred Racing Association and track officials announced Thursday that Churchill Downs has been fully accredited by the NTRA Safety and Integrity Alliance. The track is the first to be evaluated and designated by the alliance.

The accreditation of Churchill Downs came following a written application from the track, meetings with alliance representatives, and onsite evaluations from alliance and veterinary officials.