Xpressbet

Xpressbet, LLC is a subsidiary of Stronach Group Company. The company provides pari-mutuel action services that enable account holders to watch and wager on thoroughbred, harness, and quarter horse racing through online, phone, and mobile devices. It also provides handicapping resources, such as daily picks, wagering guides, newsletters, blogs, and columns. The company was founded in 2002 and is based in Washington, Pennsylvania.[1] It provides wagering service to nearly 200 racetracks in North America, Australia, Europe, South Africa and the Middle East. It also offers back-end or white label wagering services for other Account Deposit Wagering (ADW) supplier.[2]

Xpressbet, LLC
TypePrivate
IndustryGambling
Headquarters
Washington, PA
,
United States
Area served
United State
Key people
Richard Peden, Co-President
Dan Newman, Co-President
ProductsXpressbet, XBSelect, XBNet, XBGlobal XBRewards
ServicesOnline/mobile horse racing wagering service
ParentStronach Group Company
Websitewww.xpressbet.com

History

In April 1983, the Meadows, the first pari-mutuel horse racing track in Western Pennsylvania, launched Call-A-Bet, which allowed patrons to wager through personal telephone accounts. In Nov 1983, the Meadows Racing Network, a satellite television station that pumped a 12-race card into 270,000 Pennsylvania homes and complements the Call-A-Bet system, was introduced.[3] 18% stake of the Meadows Racing Network later sold to Toronto-based Magna Entertainment Corp as a part of $53 million deal. Frank Stronach, the chairman of Magna, said, "The acquisition of the Call-A-Bet account wagering system, together with Ladbroke's other Pennsylvania horse racing operations, is an important step in MEC's strategic plan of building the premier account wagering business in the country. By acquiring the existing Call-A-Bet system, which already has a profitable operating history, MEC will significantly advance its electronic media strategy and realize an immediate improvement in its earnings per share."[4]

Call-A-Bet later added internet wagering service and was renamed to XpressBet. Shortly, in March 2002, Ron Luniewski, then co-chief executive officer of online advance-deposit wagering company called Youbet.com (later acquired by Churchill Downs[5]), resigned to serve as CEO of XpressBet.[6]

On April 20, 2018, Ron Luniewski left the company.[7] As of his exit, XpressBet's handle grew to $782.6 million in 2017.[8]

List of notable participating tracks
* Indicates a racetrack with direct partnership through the Stronach Group

(listed alphabetically):

References
  1. "XpressBet LLC - Company Profile and News - Bloomberg Markets". Bloomberg.com. Retrieved 2020-10-17.
  2. admin (10 July 2014). "Xpressbet". The Stronach Group.
  3. "History of The Meadows". old.post-gazette.com.
  4. "Magna Finishes $53 million Ladbroke Deal". BloodHorse.com.
  5. Staff, TheStreet (12 November 2009). "Churchill Downs to Buy Youbet for $127M". TheStreet.
  6. Hegarty, Matt. "Youbet exec jumps ship to Magna". Daily Racing Form.
  7. "Change in Leadership at Xpressbet.com". BloodHorse.com.
  8. Hegarty, Matt. "Luniewski out as XpressBet president". Daily Racing Form.
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