ACCOUNTS AND WAGERING QUESTIONS

When do wagers need to be placed?

Wagers can be placed up to post time. To avoid being shut out due to delays over the Internet, we recommend that wagers be placed as early as possible.

What types of wagers are accepted?

We support nearly all wager types offered by our member tracks. The wagering menu will virtually mirror the tracks' wagering menus with the exception of parlay wagers (such as twin-trifecta or tri-super) which require an exchange ticket.

Are transactions confidential?

All wagers and transactions are completely confidential.

Does MyRaceBet.com have a wager limit?

Yes, the limit is $1,000 per wager. However, you may make multiple wagers to exceed this amount. The total of multi-bets, such as boxes and wheels, may also exceed a total of $1,000. (For example if a user wagers $200 on a three-horse exacta box, then the total sum of the bet would be an allowable amount of $1,200.)

Does MyRaceBet.com have credit card deposit limits?

Yes. Our credit card processing company has imposed a limit of $400 when opening your account. After we receive your Draft Authorization Form, subsequent deposits to your account will be limited to $1,000 per day, $3,000 per week and $5,000 per month. You will also be limited to the available credit of your credit card.

Which credit cards do you accept for deposits?

Currently, we are only able to accept MasterCard and Visa for online deposits, including those debit cards which carry one of these logos. If you wish to use a Discover Card to make a deposit, you may do so by calling our customer service department between 9:00am and 4:30pm Eastern Time at (866) 891-5100.

I know my card and credit limit are good, why am I being declined?

The most common reason for a credit card decline (other than over the credit limit) is address verification. On the "Add More Funds" page, the fields will be automatically filled with your account information. If the address your credit card billing statement is mailed to is different, you will need to change the information in the fields to reflect your credit card billing address. If you are declined for this reason, our credit card processing company will send you an e-mail indicating this is why you were declined. You must also provide a valid and complete (yourname@aol.com for example) email address for online deposits.

Are my credit card deposit treated as cash advances, or purchases?

Our online credit card processing company treats all deposits as purchases, not cash advances. Deposits made through our accounting department uses a different processor, which may treat your deposit as a cash advance.

Can I access probable payouts?

You can access various probable payouts based on the track and the race.

Which pool does my money go into?

Your wager will be commingled into the appropriate pool of the host track.

How is my wagering dollar distributed?

Because all wagers are incorporated into the host track's wagering pools, the horsemen, the state and the racetracks share in the revenue.

How long after the race does it take for winnings to post to my account?

Your wager log update takes only a few minutes from the time the official race results are posted at the track.

Is there a minimum amount required to open an account?

MyRaceBet.com does require a minimum deposit of $25 to open an account ($250 for Oregon residents); however, once an initial deposit has been made, individuals may deposit any amount. Your bank may subject you to minimum credit card purchase amounts, and MyRaceBet.com is not responsible for the policies of individual credit card companies.

When/How do I know if my wager is accepted?

An on-screen wager confirmation, accompanied by a ticket number, is provided within seconds of submitting a wager. There is a Print button located on the confirmation screen if you wish to print the ticket for your records.

Is it possible to cancel wagers?

Once you submit a wager and the wager is accepted, you may not cancel it. After selecting your wager you will be given a confirmation screen to review the wager one final time before submitting it. Please take the time to proof your wagers, as MyRaceBet.com is not responsible for errors.

What happens to my wager when a horse has been scratched that is part of my wager?

MyRaceBet.com will provide refunds or assign other horses in accordance with the member track's policies for handling scratches.

Will I be able to see my wagering record?

You will be able to see the history of the current day's wagers by selecting "Recall Today's Bets" from either the "Manage Your Account Page" or the wagering screen.

Will I be able to see my balance online?

Your account balance is available online from either the "Manage Your Account Page" or the wagering screen.

What information is recorded in the wager log?

Your "View Today's Bets" screen will show all of your wagers for the current day, along with ticket serial numbers, amount and type of bet, whether the bet was a winner or loser, and the amount of the win or loss.

If I am a present holder of an Ohio TAB account, how do I use this service?

Present holders of Ohio TAB accounts may wager through the MyRaceBet.com site using their existing account. To modify their account, existing Ohio TAB customers may contact a customer service representative, and provide the requested information to update their account to an online status.

If I have a MyRaceBet.com account can I still wager via telephone?

Yes, you may use the same account for both telephone and interactive wagering. To wager by telephone, call 1-800-494-RACE (7223). Currently there are no fees for telephone wagering.

How are funds withdrawn from my wagering account?

MyRaceBet.com will issue a check for all withdrawals, sent only to the account holder at the account address on file. You may request a check online by accessing the "Withdraw Funds" form from the "Manage Your Account" page.

Can I have my winnings transferred to my bank account?

No. For security reasons, the only way to collect from your account is to request funds to be sent to you by check.

How do I dispute a miscalculation?

Call the MyRaceBet.com Customer Service Department at 866-891-5100 (this is a toll free call), and speak to a Customer Service Representative.

What information is MyRaceBet.com required by law to give the IRS concerning account activity?

MyRaceBet.com is required to report to the IRS (W2-G)all wagering transactions which return a payoff in excess of 300-1. MyRaceBet.com will also withhold funds at the standard IRS rate of 28% from wagers where the aggregate total of identical bets exceeds $5,000.

Will there be any documentation for online wagering that the IRS will accept for losing tickets, to be balanced against winning tickets when there are signers?

Customers may request an "Account Activity Report" for the calendar year. This computer-generated report will be mailed to the account holder within 10 days of receipt of the request.

What happens if I forget my PIN?

Your PIN is required for you to access your account. Should you forget your PIN, you must contact customer service as soon as possible for a replacement. As an added security feature of MyRaceBet.com, your account will be disabled for a period of 24 hours upon five failed attempts to login.