"Crisis Situation": Racing Board Reacts to OTB Closing

Senate nixes rescue plan

By Michael Gormley
|  Wednesday, Dec 8, 2010  |  Updated 2:26 PM EDT
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"Crisis Situation": Racing Board Reacts to OTB Closing

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NEW YORK - MARCH 1: A man holds his betting slips and money at an Off-Track Betting (OTB) parlor in Midtown Manhattan March 1, 2008 in New York City. The board that oversees New York City's OTB operations voted last week to close all 71 parlors by mid-June since the city does not want to subsidize the gambling outposts. State officials are contesting the ruling. (Photo by Mario Tama/Getty Images)

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The New York Racing and Wagering Board has approved measures aimed at capturing at least some of the revenue the state stands to lose with the shutdown of New York City Off-Track Betting.

The board had an emergency meeting Wednesday to authorize streamlining the process former New York City OTB bettors can use to quickly sign up for Internet betting on state-regulated sites.

The board also approved letting several betting entities start the process immediately, which would dramatically reduce delays for bettors to sign up.

The service will now be offered by the Nassau and Catskill off-track betting corporations, the Saratoga and Yonkers harness tracks and the New York Racing Association.

More OTBs and tracks are expected to follow.

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