October 10, 2009

OTB Losing Money


"What happened? Back in the 1970s, the OTBs were gushers, spinning off tens of millions of dollars. But then came the Meadowlands, casinos everywhere, and finally video lottery terminal (VLT) slot machines at Yonkers and other racetracks. OTB got clobbered."
[. . .]
"it still books 80 percent of the pari-mutuel bets in New York. Last year, it distributed $87 million to NYRA, $11 million to Finger Lakes racetrack in upstate New York and $30 million to the harness industry,"

http://www.nypost.com/p/sports/horse_racing/racing_panel_bettor_find_way_to_EjRq7aGpM6yjmjmBCZVh7K

Racing panel bettor find way to boost OTBs
Ray Kerrison
New York Post
Last Updated: 7:27 AM, October 10, 2009
Posted: 1:33 AM, October 10, 2009

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