Major wagering comes to Youbet for Belmont race.This year's Belmont Stakes Belmont Stakes Oldest of the three U.S. horse races that constitute the Triple Crown. The Belmont originated in 1867 and is named after August Belmont (see Belmont family). The stakes is held in early June at Belmont Park, near Garden City, Long Island; the course is 1.5 mi (2,400 m). drew the second-highest race day total in online betting, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Woodland Hills-based Youbet.com Inc. The handle, or total wagered online, on June t0 hit $2.1 million, an 18 percent improvement over last year. The record remains the $5.6 million bet on the Kentucky Derby Kentucky Derby One of the classic U.S. Thoroughbred horse races. It was established in 1875 and run annually on the first Saturday in May at Churchill Downs track in Louisville, Ky. With the Preakness and the Belmont Stakes, it makes up U.S. racing's coveted Triple Crown. on May 6. No doubt the injury to Derby winner Barbaro during the Preakness, the second leg of the Triple Crown, put a damper on the wagering for the final race of the series, the Belmont Stakes. Youbet.com's United Tote subsidiary manages the betting done at terminals at racetracks. The company handled $81.3 million in terminal wagers for the Belmont, the second-highest amount for a race. (This year's Kentucky Derby holds the honors for the largest race-day total, too, at $175 million.) During the week leading up to the Belmont Stakes, Youbet.com signed up about 1,100 new online customers--half coming from the company's "fantasy" site, Youbet.net. Taking a page from fantasy sports leagues, Youbet.com launched a play-for-points site this year to help educate online users about horse racing horse racing, trials of speed involving two or more horses. It includes races among harnessed horses with one of two particular gaits, among saddled Thoroughbreds (or, less frequently, quarterhorses) on a flat track, or among saddled horses over a turf course with . The company is trying to appeal to the young audience that religiously follows its fantasy sports teams by demystifying horse racing. "We're effectively marketing the Triple Crown product to young adult racing fans," said Chief Executive Charles Champion. "We see greater fan interest, higher deposit levels and more wagering." Youbet.com offers Internet and phone wagering to customers living in states that allow online horse wagering. Though online gambling Online gambling is a general term for gambling using the Internet. This article provides a brief introduction to some of the forms of online gambling, as well as discussing general issues. is not allowed in the U.S., horse wagering is exempt from the law. Called parimutuel betting parimutuel betting (păr'ĭmy  `tyĕl), system of cooperative wagering invented (c.1870) in France by Pierre Oller. , Youbet's system differs from casino betting in that players bet against each other, not against "the house." Youbet takes revenues in the form of a "rake," a percentage taken off the top of total wagers.
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