Internet Horse Race Betting in New York Strengthens WTO Ruling
The New York State Racing and Wagering Board gave their approval to Capital OTB to begin accepting wagers over the Internet for Pari-mutual racing on Thursday.
Capital OTB said that Internet wagering will be much the same as the state's call-in program for wagering. The user must have an account that is funded in advance, similar to the way offshore-casinos do business, and then they may wager with monies on deposit.
"No question it's going to have a major effect on Capital OTB," said Michael Connery, Capital OTB's President, adding, "We now join New York City (OTB) and the NYRA on the Internet. Some time ago we got permission, along with NYRA, to do cash rewards, and we are going to be allowed to do that with the Internet."
It was a necessary step, he said. "we're competing with off-shore gambling. (With the Internet,) we hope to see new customers."
This flies in the face of the UIGEA which has outlawed financial transactions to "illegal" off-shore casinos and it strengthens the hand of WTO members that are seeking compensation for the withdrawal of trade in services treaties signed by the U.S. in 1995. The UIGEA conveniently has exemptions included to protect the domestic Horse Racing Industry, Fantasy Sports, and Lotteries that engage in Internet wagering, while restricting those same services from foreign companies.
