Bettors\' funds are safe, officials say
By Matt Hegarty
Wagering accounts held by customers of XpressBet will be protected if XpressBet\'s parent company, Magna Entertainment Corp., files for bankruptcy, regulatory officials said Monday.
XpressBet, like many other national account-wagering companies, is licensed by the Oregon Racing Commission, which requires the companies to maintain accounts under guarantees by the Federal Deposit Insurance Corp.
Another rule states that \"funds of an account holder . . . shall remain the property of the account holder for all purposes.\"
BE CAREFUL!!
....this is what was told to a few people who are now tied up in a legal hassle trying to get their money from that Dog Track that went bust recently.That track was State licensed, but no segregation of players monies was evident.I don\'t know much about AWD\'s but how safe are they really?? Anyone??
Both NYRA and NYC OTB are quasi NY State outfits now, so I guess they are safe.
Mike
Mike is totally correct. At Hinsdale Greyhound, while your funds may be \"safe\" you will have to wait until at least the end of the year to retrieve them. And by the way, how did Stronach get owner of the year with all this mess?