Accurate calculations of settlements and distributions requires the daily processing of conventional and exotic pools by location, association and type of race.
Total amounts retained from the public (takeout & breakage), plus the total amount payable to the public are balanced back to total track handle. Handle, along with prospective distributions, can be queried and sorted by On-Track, Off-track and Out of State wagers. Further queries include date ranges, breeds, live, interstate, international, etc.. Presently the CHRIMS staff, with our own in-house software tools, load and balance pari-mutuel data daily. The operation of CHRIMS occurs in three phases:
Data Acquisition: Each night after racing for the day has concluded, the CHRIMS system electronically and automatically downloads the complete end-of-session reports from each tote company. This is a data stream which includes all wagering activity conducted through pools, down to the level of individual teller transactions.
Data Processing: Each morning, the CHRIMS data staff supervises the compilation of tote data into usable information units (pool-by-pool, site-by-site, handle, takeout, breakage, payout, etc.). This information is then processed using tables prescribing statutory and contractual takeout distribution formulas to produce a new set of information separating pari-mutuel revenue allocations. This processed information is then available electronically to an official auditor for review and archived and made available throughout the system’s network of users.
Information Dissemination: All wagering and takeout information is locked into the system and opened to the CHRIMS network in the form of queried data-sets: Reports detailing the complete breakdown of handle by date, site, pool, type of wagering event, etc. System users may query the database across a variety of parameters to obtain consistent, reliable information for accounting purposes, statistical analysis, confirmation of pari-mutuel receipts due, interstate simulcast settlements and more.
The CHRIMS system has cut down on processing time by 16-20 hours per day. Every morning our handle is loaded and waiting. With all of the reporting features, we can analyze data and utilize our time wisely. Our AR aging has decreased and our Cash Flow has never been better.
Greg Gelyon
VP of Finance Tampa Bay Downs
I have been a user of CHRIMS since its inception. It used to be that I'd have to input daily data in order to even begin to analyze our results. The ease with which I can sort through information in CHRIMS has made analysis a much timelier possibility.
Gina M. Lavo, CPA
Vice-President, Finance Los Angeles Turf Club, Inc.
Data is readily available, our Accounts Receivable processing has been incredibly streamlined, and there are literally no settlement issues. The CHRIMS staff is always helpful, and even with the West Coast time differential they seem to be always available. Keeneland prides itself in being a leader in Thoroughbred racing, and the association with CHRIMS certainly helps to maintain that status.
Jim Goodman
Director of Simulcast Operations Keeneland Association, Inc.
CHRIMS – PGSI has been a strategic solutions provider to The Stronach Group and AmTote for over 10 years. Our most recent project with CHRIMS-PGSI is the implementation of their pari-mutuel settlement and distribution system for all TSG properties. This has enabled us to create a unified view of net settlement and money room shift between us and all the host and guest communities that we interact with, and CHRIMS-PGSI has done a great job in working with us during this complex and challenging project.
Steve Keech
Executive V.P. of Business Development & Acquisitions, The Stronach Group