Re: Good for the NYRA!! (792 Views)
Posted by:
asfufh (IP Logged)
Date: June 12, 2006 09:57PM
Imallin, The problem is the whales use CRW and make up the bulk of the money bet through these channels. Here's a couple of quotes from various articles/reports discussing this :
"By 2003 RSI's off-track handle had grown from $9 million to $214 million a year. Amazingly, according a state representative's floor speech in the North Dakota legislature, around $130 million of the handle came from one man. Even after that statement, state officials refused to identify the bettor until his name emerged in the RSI bankruptcy. He turned out to be a little-known professional gambler from Las Vegas named Peter Wagner. According to a complaint from a racetrack that denied RSI its betting signal, Wagner used elaborate computer software to make his picks and a direct link to the betting terminal to enter his wagers seconds before race time"
"According to a September 2004 report from a racing industry Wagering Systems Task Force, the majority of this handle goes through what it called Secondary Pari-Mutuel Organizations, or rebate shops, which remit five to 10 percent of the cost of a bet to high-volume customers. These clients often use computerized robotic wagering, giving them a last-second edge in placing bets.
Research for this highly sophisticated report was contributed in part by the consulting firm of former New York City Mayor Rudolph Giuliani. The report singled out ''Native American gaming facilities'' as a key component of this new industry, which was targeted by the New York cutoff."
"The incentive to lobby for a rebate program, a movement opposed by downstate off-track betting corporations, followed NYRA's decision last year to cease doing business with 10 offshore and domestic simulcast operations, which paid a small fee for the satellite signal and kicked back as much as 15 percent to those playing at a level that will now qualify for the maximum approved by New York regulators. These firms provide their best clients with computer access to pool data, which allows the use of batch-betting programs that place multiple wagers within seconds of post time, an advantage widely regarded as unfair."
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