News

Thursday, March 30, 2006
New York pool allows discounts for punters

The New York State Racing and Wagering Board authorized both the New York Racing Association and Capital District Regional Off-Track Betting to allow discounts to bettors during a one-year trial period.

According to the reward program, bettors will receive one point for every dollar wagered on a race at one of the three NYRA tracks — Aqueduct, Belmont, and Saratoga Race Course — and half a point for every dollar wagered on a simulcast race within one calendar month.

The minimum number of points needed to earn a cash reward is 2,000, which will return a 1% cash reward for either win, place, and show wagers as well as two-horse multiple wagers or exotic wagers. A bettor earning 500,000 points would get a 3% cash reward for win, place, and show wagers, 4% for two-horse multiple wagers, and 7% for exotic wagers.

The new reward programme comes in response to New York racing’s decision to end rebating of outer state bets. This has led to a decline in betting volume, which the new measure tries to reverse.