NYRA biggest 4 days Belmont at Saratoga will go cashless???

[Andy Asaro]

Twitter

[classhandicapper]

This is a tiny step of a much bigger issue that belongs in OT.

I'm going to guess that this is going to hurt handle a bit because there almost has to be some people that only want to operate with cash.

[GMB@BP]

Originally Posted by classhandicapper

I'm not sure if a move like this belongs in the racing section or in off topic because anyone that's paying attention knows that this is one tiny insignificant step of a much bigger issue.

Is this for betting or just for stuff like concessions.

[MTO Joe]

https://www.belmontstakes.com/event-info/faq

Q: Will cash be accepted for payment at the Racing Festival?
A: The 2024 Belmont Stakes Racing Festival will not be accepting cash for the majority of purchases, including food and beverage service, concessions, and parking. Credit and debit cards will be accepted for purchases. Reverse ATMs, which convert cash into a debit card for purchases, are located in multiple locations throughout the venue for those preferring to pay with cash.

[classhandicapper]

Originally Posted by GMB@BP

Is this for betting or just for stuff like concessions.

I assumed betting also based on some comments I read elsewhere, but maybe I jumped the gun. If it's just concessions I couldn't care less.

[PaceAdvantage]

No way is betting going to be cashless...

[the little guy]

Originally Posted by PaceAdvantage

No way is betting going to be cashless...

I'm trying to imagine thinking this applied to betting. I can't.

[QuarterCrack]

Seems like this only applies to purchases, no mention of wagering:


Q: Will cash be accepted for payment at the Racing Festival?

A: The 2024 Belmont Stakes Racing Festival will not be accepting cash for the majority of purchases, including food and beverage service, concessions, and parking. Credit and debit cards will be accepted for purchases. Reverse ATMs, which convert cash into a debit card for purchases, are located in multiple locations throughout the venue for those preferring to pay with cash.

[Bustin Stones]

It's doable. Casinos have you turn in your cash for chips. Tracks could have you purchase vouchers and all transactions would be by voucher. That it's doable doesn't make it attractive.

[horses4courses]

Originally Posted by PaceAdvantage

No way is betting going to be cashless...

Agreed.
However, eventually this may change.

When that happens, most everything changes in the sport.
I hope I never see that day.

The reason it is possible is based on FINCENS/IRS compliance in casinos.
This has expanded just about every year in the last thirty.

2001 and 9/11 kickstarted much of it, which was understandable.
Yet, since then, it has been amped up with regularity.

When large money goes down in cash, source of funds is scrutinized.
Trouble is, the threshold for "large money" has not kept pace with inflation.

I've been out of touch with race and sports wagering for some time.
I know enough to know that they must be under the microscope.
Bad news for the sport of horse racing.