The founder of Racing Services was convicted by a federal court of conducting an illegal gambling business, conspiracy to conduct an illegal gambling business, illegal wire transfer and money laundering.
Racing Services was the first company licensed to provide broadcast signals from out-of-state horse races to betting parlors in North Dakota.
The company was not licensed to run its own betting parlor, but it handled nearly $100 million in bets between October 2002 and April 2003.
Last month, Racing Services was one of five off-track betting sites named in an federal indictment in New York. It alleged the sites were part of an illegal gambling ring that processed more than $200 million in bets over four years.
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