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Twinspires, XpressBet experience declines

Handle through two of the three leading national account-wagering platforms in the United States declined in the first quarter of 2011 compared with the first quarter of 2010, according to the platform operators and regulators in Oregon, where the platforms have betting hubs. The decline signals a contraction in the account-wagering market for perhaps the first time.

Combined with a slight increase for the third large account-wagering operator the overall 7.9 percent decline is the first significant quarter-to-quarter drop for the leading operators in the account-wagering sector, which has been the only growing component of the national wagering market over the past several years. The decline far exceeded a 1.8 percent contraction in race days during the quarter and was a significant component in an 8.5 percent decline in total wagering on U.S. races for the first three months of the year.

Overall, handle through the three dominant account-wagering platforms was $365.5 million in 2011, compared with $397 million in the first quarter of 2010, according to the figures. The figures do not include totals from account-wagering platforms that do not have a hub in Oregon, but those operations, such as the New York Racing Association’s NYRA Rewards account-wagering service, typically serve local markets.

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