Did I mention that OTBNYC sucked?

[badcompany]

This is from the "If you could live near any circuit" thread."

Originally Posted by badcompany

The problem with NYC for horseplaying is that NYCOTB sucks. The way it's set up is not conducive to serious betting. I live in Manhattan and the majority of my plays this year have been made in the Saratoga Racino.

NYC OTB files for Chapter 9 bankruptcy

By PAUL POST, The Saratogian

SARATOGA SPRINGS — The state’s largest betting operation, which handles nearly $1 billion in wagers annually, will try to reorganize under Chapter 9 federal bankruptcy, Gov. David Paterson announced Tuesday. New York City Off Track Betting is nearly five months late and $14 million behind on statutory payments to New York Racing Association, and breeders won’t be getting awards checks this fall because of money OTB owes the Saratoga Springs-based New York Breeding and Development Fund. After years of criticism, with little or no action, Tuesday’s stunning move proves that OTB doesn’t work any more. "New York City OTB in my judgment was flawed at its inception, at its birth," Chairman Meyer "Sandy" Frucher said. "We have a system that competes with itself. It was bad from the start."

[pktruckdriver]

HOW CAN PEOPLE BE SO STUPID ???


WHERE IS ALL THE MONEY GOING TO,WHO EXACTLY IS GETTING FILTHY RICH, WHY REFUSING TO PAY YOUR BILLS, WHO IS IN CHARGE AND WHO OVERSEE'S THEM, AND WHY DO THEY NOT DO SOMETHING, ARE THEY SCARED, IF SO OF WHO.


ANSWER ME THESE QUESTIONS ,PLEASE



PATRICK



ps: WHAT PERCENT IS 14 MIL OF BILLIONS, AND THEY STILL WON'T PAY, WHAT FFING GREED OF THESE PEOPLE OR PERSON, THEY MUST THINK THEY ARE ABOVE THE LAW, AND SO FAR THEY HAVE BEEN...WHY??????

[Tom]

Three words, Patrick.....New York State.

[Red Knave]

Here's another look at the same situation. Free registration required.

http://www.nytimes.com/2009/09/02/nyregion/02otb.html

What struck me here is the couple of uninformed references to "bookies" and also "Mr. Casey said OTB is hobbled because it is required to pay the horse racing industry and the state before covering its own expenses"

[pktruckdriver]

Originally Posted by Red Knave

Here's another look at the same situation. Free registration required.

http://www.nytimes.com/2009/09/02/nyregion/02otb.html

What struck me here is the couple of uninformed references to "bookies" and also "Mr. Casey said OTB is hobbled because it is required to pay the horse racing industry and the state before covering its own expenses"

What expenses are more than a billion dollars, please tell me this, don't they own every otb location, and most of them are run down and antiquated, from what I hear, thou I do not know this for certain.

Sorry this just gets me rubbed the wrong way,and I DO NOT LIVE IN NY and hate the Yankee's, but this OTB stuff is ridiculous.

Patrick

[badcompany]

Originally Posted by pktruckdriver

What expenses are more than a billion dollars, please tell me this, don't they own every otb location, and most of them are run down and antiquated, from what I hear, thou I do not know this for certain.

Sorry this just gets me rubbed the wrong way,and I DO NOT LIVE IN NY and hate the Yankee's, but this OTB stuff is ridiculous.

Patrick

As I said earlier, it's not a place conducive to serious betting. The parlors are a haven for lowlives. No self-respecting person would want to go to one of these places.

And in an era of simultcasting, home betting is seriously lacking . You have one or, at most, two channels for what could be up to 20 tracks.

There needs to be an OTB network that gives home bettors the same feed as the parlors. I would pay for such a service.

[Java Gold@TFT]

Originally Posted by Tom

Three words, Patrick.....New York State.

Honestly, three words, New York City. The rest of the other 7 OTB's in the state pay their bills and don't have near the corruption of NYC and the nepotism and the stealing from the retirement funds. Yes others have had their problems but it isn't anything close to NYCOTB. The city wanted to sell them but the state took over instead and that's the only reason they are getting the bankruptsy ( bad spelling) protection.

[trigger]

"An OTB executive speaking on the condition of anonymity said that New York City OTB could not make the payments because it needs the money to operate. However, a recent state comptroller report blamed New York City OTB’s problems on excessive operational expenses, including 25 employees making more than $100,000 annually."
http://www.thoroughbredtimes.com/nat...er-checks.aspx

25!

[BELMONT 6-6-09]

NYCOTB is a disaster and the mayor and his cronies are mostly to blame when looking back at the political patronage that has taken place throughout the years...incredible.I have taken my money out of the phone account long ago as I have been expecting this debacle to come forth.

[pktruckdriver]

Why are people so scared of this thing, I understand all of you , but yet no one is held responsible, where does this money go, who's getting, THE MONEY

"An OTB executive speaking on the condition of anonymity said that New York City OTB could not make the payments because it needs the money to operate. However, a recent state comptroller report blamed New York City OTB’s problems on excessive operational expenses, including 25 employees making more than $100,000 annually."

Someone must be in charge, who is paying off who, a billion dollars people, 25 people at 100k is only 2.5mil , no, where's the other 997.5 million, aren;t the building the otb is in owned by the otb, so no rent is due, really what figure is so powerful, that no one can finger him, Not the Mayor or Governor, they aren't in this are they, especially the Mayor's as they have their money, someone outside this scenario.


Maybe shutting them all down and allowing someone else to come in and start from scratch, updating them and making them safe and efficient and with the money going thru them break even point would be almost immediate, WHO CONTROLS THIS FIASCO, WHAT ONE PERSON IS RESPONSIBLE, OR WHAT COMMITTEE, AND THE COMMITTEE MEMEBERS NAMES RESPONSIBLE?????


WHY CAN'T ANYONE ANSWER THOSE QUESTIONS AND GIVE THE NAMES OF THE PEOPLE RESPONSIBLE, ARE THE PAYOFFS THAT HUGE, WELL A BILLION DOLLARS, MAYBE THEY ARE


PATRICK

sorry for screaming, please, forgive me

[pandy]

This is all about corruption, too many executives with expense accounts, company cars, etc. I believe I read that they had 87 company cars. NY OTB has always been corrupt, I know, I did some work for them years ago, on a freelance basis, and I could tell that they were abusing expense accounts.

[badcompany]

I would say the main difference between NYCOTB and other venues where I've been that do a good job: Meadowlands, Saratoga Racino, Billy's in Bally's AC, is that the latter feel like professionally run gambling operations, whereas, OTBNYC feels like the city run agency that it is.

[Zaf]

Originally Posted by badcompany

I would say the main difference between NYCOTB and other venues where I've been that do a good job: Meadowlands, Saratoga Racino, Billy's in Bally's AC, is that the latter feel like professionally run gambling operations, whereas, OTBNYC feels like the city run agency that it is.

NYCOTB has always been a dump. Always was, always will be !

Z

[riskman]

Patrick--read this article. It will give you the scope of NYC OTB operations, its financial condition and its future which does not appear viable unless major changes are made internally as well with its agreements with the state.


http://blog.timesunion.com/capitol/a...re-of-nyc-otb/

[Imriledup]

Originally Posted by pktruckdriver

HOW CAN PEOPLE BE SO STUPID ???


WHERE IS ALL THE MONEY GOING TO,WHO EXACTLY IS GETTING FILTHY RICH, WHY REFUSING TO PAY YOUR BILLS, WHO IS IN CHARGE AND WHO OVERSEE'S THEM, AND WHY DO THEY NOT DO SOMETHING, ARE THEY SCARED, IF SO OF WHO.


ANSWER ME THESE QUESTIONS ,PLEASE



PATRICK



ps: WHAT PERCENT IS 14 MIL OF BILLIONS, AND THEY STILL WON'T PAY, WHAT FFING GREED OF THESE PEOPLE OR PERSON, THEY MUST THINK THEY ARE ABOVE THE LAW, AND SO FAR THEY HAVE BEEN...WHY??????

GREAT POST NO TRUER WORDS HAVE BEEN SAID!

Its absolutely incredible. Illegal bookies, who are charging their customers a 5% vig, are driving around in Lexuses and Mercedes, the NYCOTB is not only charging their customers 20 pct blended, but they are taking an extra few percent off the top and they STILL CANT WIN? Are you Freaking Schlitting me?

This is the most criminal organization in America bar none. They get rid of Hazel Dukes and they STILL go into the red?

What kind of Vig would they have to charge to actually MAKE MONEY?

These people should go directly to jail.