James Castagnetta - Page 4

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          than 25 years.  Petitioner has been “seriously” handicapping                
          horseraces for approximately 11 years.                                      
               Petitioner bets on horseraces via a closed circuit simulcast           
          at Yonkers Raceway (Yonkers).  From Wednesday through Sunday,               
          Yonkers simulcasts horseraces from several alternating race                 
          tracks.  Typically, petitioner spends approximately 40 hours per            
          week handicapping and betting on horseraces.  During 2001,                  
          petitioner spent more than 250 days handicapping races and                  
          betting at Yonkers.                                                         
               Petitioner keeps a detailed account of his daily gambling              
          transactions.  This includes his daily wagers and winnings, as              
          well as a cumulative total of his yearly winnings and losses.               
          He also spends a considerable amount of time handicapping races             
          and studying racing programs and other materials.  As part of               
          handicapping horseraces, petitioner prepares his own “speed                 
          figures”.2  Using a number of criteria, including track length,             
          track conditions, and weather conditions, as well as his                    
          observations during the races, petitioner determines a final                
          “speed figure” for the winning horse in each race and compares              
          the “speed figure” to other horses.  Petitioner maintains a                 
          detailed chronological record of his “speed figures” for the                
          winner of each horserace.                                                   



               2  “Speed figures” can also be purchased from a third party.           




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Last modified: May 25, 2011