16th of December 2010 Author: Johnny Karp
Emergency measure approved by New York State Racing and Wagering Board
The New York State Racing and Wagering Board approved an emergency measure following the closure of the New York City Off-Track Betting (NYCOTB) Corporation, with which it will allow online processing of advanced deposit wagering accounts. Reportedly, this move is said to have been instituted to "safeguard the integrity of the pari-mutuel wagering system".
The Chairman of the New York State Racing and Wagering Board John Sabini, said: 'Our goal is to prevent the potential migration of betting dollars to out-of-state and unregulated entities by allowing in-state account wagering operations to quickly process applications for Internet and telephone betting accounts.'
It was reported by the Board that applications from the New York Racing Association (NYRA), Nassau Regional OTB, Catskill Regional OTB and Yonkers Raceway to process account applications over the Internet had been approved, just like an application filed by Saratoga Gaming and Raceway to take deposits and requests for withdrawals from accounts with the use of credit and debit cards as well as ACH transactions.
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