The TV Games Network (TVG) is profiled by Gary Dretzka
of the CHICAGO TRIBUNE, who reports that "if all goes
according to plan," horse racing fans "eventually will be
able to use their remote controls, PCs or telephones to
place bets through an interactive wagering hub located" in
OR. The "idea" is for customers to set up accounts through
an OR bank, which "will keep track of individual
transactions and make payouts to players and TVG partners in
the racing industry." TVG is looking to make money via
wagering, advertising on the network and through licensing
and merchandising. For every $100 that is bet, $80 will be
returned to a winning customer; $.25 will go to the state of
OR; $5.50 goes to TVG, which employs 220 people; the NTRA
gets $.75 for its national marketing and lobbying efforts;
$3 goes to the track where the race is run if they're
exclusive partners with TVG (less if they're not) and the
remaining money will be returned to the states, where
officials will decide how it's spent. After TVG recoups
"its initial operating expenses," it will reduce its take
from 5.5% to 3%, and the tracks will get $5.50 of every $100
bet. TVG President & CEO Mark Wilson: "Two years from now,
you'll be able to move money from your checking account to
your TVG account. You'll be able to buy NTRA merchandise
... We'll be the Amazon.com of racing and the money will
already be there in your account" (CHICAGO TRIBUNE, 10/20).
