The power struggle is heating up between North America's two leading interactive horse racing providers, You Bet and Television Games Network (TVG). Over the weekend, Hollywood Park, Inc. dropped You Bet's service and signed up with TVG.
As of July 11, wagers on Hollywood Park races were discontinued at You Bet, a Los Angeles-based company which allows users to wager on horse racing around the U.S.
"The volume of handle through You Bet is extremely disappointing," Hollywood Park chairman R.D. Hubbard said. "It only amounts to $21,000 a day, which is substantially less than we anticipated."
You Bet, Inc. couldn't be reached for comment.
Hollywood Park will now rely on TVG, a national television network which combines live horse racing with interactive wagering. Scheduled to launch today, TVG will air Hollywood Park races the final week of the Spring/Summer Meeting, which includes Monday, July 19.
"We feel TVG offers a far superior platform for our product," Hubbard said. "We've always been 100 percent committed to TVG and that remains the case. We look forward to expanding our business as TVG enters untapped markets."
TVG will give users access to features, news and wagering opportunities throughout the country as it has agreements with more than 20 of the nation's major racetracks.
Hollywood Park owns and/or operates eight casinos (four with hotels), two pari-mutuel horse racing facilities and two card casinos at twelve locations in Nevada, Mississippi, Louisiana, California, Arizona, and Argentina. Hollywood Park, Inc. has also been approved to receive a
license to conduct riverboat gaming on the Ohio River in Indiana and has begun development of a hotel/casino and golf resort in Switzerland County, Indiana.