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| I just have a question http://newyorkracingboard.com/viewtopic.php?f=1&t=1495 |
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| Author: | bigbird914 [ Mon Nov 02, 2009 3:26 pm ] |
| Post subject: | I just have a question |
with this new agreement is this another source of revenue available for NYRA? What type of agreement goes into this wagering? http://drf.com/news/article/108619.html Betfair customers to bet into Aqueduct pools By Matt Hegarty The British on-line betting giant Betfair will begin offering pari-mutuel betting on the races run at the New York Racing Association's Aqueduct racetrack beginning with the track's next live card on Wednesday as a result of an agreement recently struck between the two companies. The agreement will allow Betfair customers to use their existing accounts to make bets into Aqueduct's commingled pari-mutuel pools. The agreement is similar to deals Betfair has recently reached with Keeneland, Oak Tree, Woodbine, Hawthorne, and the Breeders' Cup, among other U.S. racing organizations. Aqueduct opened last Wednesday. Its meet will run through early May. Betfair runs the most popular betting exchange site in the world. The company has 2.5 million accountholders, according to Betfair. Betting exchanges allow customers to bet against each other on horse races and other sporting events. Betfair charges its customers approximately 5 percent of winning wagers as a commission on exchange bets, though the rate can vary widely depending on an account-holders' activity. A release from NYRA did not explain whether the association would receive compensation from Betfair if its customers conduct exchange betting on NYRA's races. As part of its agreements with Breeders' Cup and Keeneland, Betfair customers were allowed to conduct exchange wagering so long as Breeders' Cup and Keeneland received an unspecified amount of compensation. Betfair struck a similar agreement with Del Mar earlier this year for Del Mar's late-summer meet. NYRA officials did not immediately respond to requests for comment. In the past, Betfair has allowed its customers to offer exchange betting on North American racetracks regardless of whether the company had agreements with the tracks. |
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| Author: | 1/4 Pole [ Mon Nov 02, 2009 3:36 pm ] |
| Post subject: | Re: I just have a question |
I'm OK with any revenue stream that NYRA picks up. New York State is more than $3 BILLION in the hole on the budget just approved in April despite $8 BILLION in increased taxes and fees. Don't forget, the taxpayers are still forking over millions to keep NYRA and the Slow Breds afloat. |
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