Probe of NYRA execs may be launched - NYRA may lose slots subsidies

[usedtolovetvg]

Originally Posted by OTM Al

I still love this argument. Higher take led to higher profits for NYRA. Good thing they didn't lower them then. Would have been bad business.

That is exactly what Hayward wrote in his email to Crist.

[Canarsie]

Originally Posted by FenceBored

Ho hum, another "if you don't agree with me you must not bet" tirade. So predictable..

Weren't you the person who didn't agree with me and started a childish poll? It was so predictable that you were on the wrong end and the results proved it.

Maybe you should try a different area of expertise your flailing here.

[cj]

Originally Posted by aaron

Was NYRA profitable during Schwartz's tenure ?

Answering a question with a question is just a way to avoid answering. It seems to be an epidemic here lately.

[cj]

http://tenoonan.com/2012/05/18/somet...a-controversy/

[castaway01]

Originally Posted by usedtolovetvg

That totaled more than $8.5 million. If that means to you, you can send me a check. Some people got screwed out of a lot of money and some got to keep an awful lot that was not rightfully their's.

As has been stated a million times, simulcast outlets got the vast majority of the money. They refunded zero dollars of it.

[usedtolovetvg]

Originally Posted by castaway01

As has been stated a million times, simulcast outlets got the vast majority of the money. They refunded zero dollars of it.

I understand that. But I think there should be an accounting of exactly who got what. That I haven't seen. An audit would have to confirm this.

[Tom]

....and yet no one here is whining about that.
NYRA did, but they are the villains here.

[Rutgers]

Originally Posted by usedtolovetvg

I understand that. But I think there should be an accounting of exactly who got what. That I haven't seen. An audit would have to confirm this.

The law only applied/applies to on-track bets, off-track bets are not covered under the statute.

The law clearly does not apply to out-of -state bet takers.

[usedtolovetvg]

Originally Posted by Rutgers

The law only applied/applies to on-track bets, off-track bets are not covered under the statute.

The law clearly does not apply to out-of -state bet takers.

If that is so why did some ADWs correct the mistake and make the proper payout to the winners. I doubt that out-of-state betting outlets can withhold whatever they like. I would think that's what would make NYRA liable for any low payouts. I think the contracts would detail this.

[aaron]

Originally Posted by cj

Answering a question with a question is just a way to avoid answering. It seems to be an epidemic here lately.

I don't remember NYRA ever being profitable or without controversy.
Maybe you can elaborate on their history over the last 20 years.

[chickenhead]

Originally Posted by usedtolovetvg

If that is so why did some ADWs correct the mistake and make the proper payout to the winners. I doubt that out-of-state betting outlets can withhold whatever they like. I would think that's what would make NYRA liable for any low payouts. I think the contracts would detail this.

I know exactly what Rutgers is talking about, I dont know what you are talking about exactly.

The ADWs did not break this NY law, the law at question here. Those thresholds apply to NY franchise on track wagers specifically and explicitly. There is no set of thresholds in NY law that speak to out of state ADWs, or even in state ADWs, that I can tell.

The ADWs are required to do whatever their contract said, thats it. I've never heard it said about this that they didn't.

[aaron]

Originally Posted by cj

http://tenoonan.com/2012/05/18/somet...a-controversy/

Why is this so hard to figure out. This is the Governor trying to take over.

[usedtolovetvg]

Originally Posted by chickenhead

I know exactly what Rutgers is talking about, I dont know what you are talking about exactly.

The ADWs did not break this NY law, the law at question here. Those thresholds apply to NY franchise on track wagers specifically and explicitly. There is no set of thresholds in NY law that speak to out of state ADWs, or even in state ADWs, that I can tell.

The ADWs are required to do whatever their contract said, thats it. I've never heard it said about this that they didn't.

I think you would have to follow the money. And, where the money ends up is not fully understood by me. I assume that all the money would go into a virtual pool. I would think that each ADW would pay the winners out of that pool and withdraw whatever % they were supposed to keep. The rest of that pool would be used to pay the taxes, horsemen & the host track. That would seem, to me, that NYRA would control the the bulk of the money. Once the mistake was discovered, I would think that NYRA would then reimburse the ADWs that did have a record as to who was owed the money. For all those simulcasting outlets that had no record, nobody could be reimbursed. So, in my convoluted way of thinking NYRA would have the excess. I hope this makes sense. My wife says nothing I say makes any sense at all.

[lamboguy]

Originally Posted by aaron

Why is this so hard to figure out. This is the Governor trying to take over.

that is pretty much what it looks like to me.

[chickenhead]

Originally Posted by usedtolovetvg

I think you would have to follow the money. And, where the money ends up is not fully understood by me. I assume that all the money would go into a virtual pool. I would think that each ADW would pay the winners out of that pool and withdraw whatever % they were supposed to keep. The rest of that pool would be used to pay the taxes, horsemen & the host track. That would seem, to me, that NYRA would control the the bulk of the money. Once the mistake was discovered, I would think that NYRA would then reimburse the ADWs that did have a record as to who was owed the money. For all those simulcasting outlets that had no record, nobody could be reimbursed. So, in my convoluted way of thinking NYRA would have the excess. I hope this makes sense. My wife says nothing I say makes any sense at all.

You have to start with the law and liability. There is no liability to NYRA, and no law, nothing really -- that says anyone that bet outside of NY was overcharged anything. You have no legal protection to pay 25% or less on a certain type of bet on a certain track unless *your* state has a law to that effect. You pay more than that at Penn and many other places. It's perfectly legal for you to be charged whatever the pool is set at.

NY state had a law to a specific effect, stipulating max amount charged to on-track bettors in NY, on NY racing. There isn't any real liability created by anyone else.