Off track betting new york history 1955

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It became allowed in New York City in , after years of unsuccessful attempts by the city to legalize it. Their success was such that by the s there were a hundred betting parlors in New York City, and twice that number by the late s.

In New York City, the thought was that legal off-track betting would increase revenue while at the same time decreasing illegal gambling activity, but one effect of the legalization was the decrease of revenue at the race tracks. The Interstate Horseracing Act struck a compromise between the interests of horse tracks and owners, the state, and OTB parlors, and stipulated that OTB revenues were to be distributed among the tracks, the horse owners, and the state.

Another stipulation was that no OTB parlor was allowed to operate within 60 miles of a track. Revenues at the track indeed lessened, but rather than fight off-track betting the industry sought to increase its income via new ways of gambling, betting on the OTB potential, and came up with "exotic wagers" such as exacta and trifecta. The Interstate Horseracing Act [3] struck a compromise between the interests of horse tracks and owners, the state, and OTB parlors, and stipulated that OTB revenues were to be distributed among the tracks, the horse owners, and the state.

Another stipulation was that no OTB parlor was allowed to operate within 60 miles 97 km of a track. Thus the industry's revenue increased even as the number of spectators at the track went down. Bettors in New York can avoid paying the surcharges by placing their bets via an off-track betting corporation's account wagering service or at so-called super branches or teletheatres that charge a daily admission fee. Other jurisdictions such as Pennsylvania do not levy a surcharge on winnings.

Most booked bets are now placed with licensed services in the Caribbean and Central America who entice bettors by offering them rebates on their bets.