28 March 2006

NYRA authorized to offer cash rewards

The New York State Racing and Wagering Board ushered in a new era in pari-mutuel wagering in the state Tuesday when it authorized both the New York Racing Association and Capital District Regional Off-Track Betting to begin separate cash rewards programs for bettors on a one-year trial basis.

NYRA Rewards Program players will receive one point for every dollar wagered on a race at one of the three NYRA tracks — Aqueduct, Belmont, and Saratoga Race Course — and half a point for every dollar wagered on a simulcast race within one calendar month.

No reward points will be given for any pari-mutuel payoff of $2.10.

The minimum number of points needed to earn a cash reward is 2,000, which will return a 1% cash reward for either win, place, and show wagers as well as two-horse multiple wagers or exotic wagers. A bettor earning 500,000 points would get a 3% cash reward for win, place, and show wagers, 4% for two-horse multiple wagers, and 7% for exotic wagers.

The first day of each month triggers a new point count, meaning points are not carried over from one month to the next.

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