On December 21, 2011 the New York State Racing and Wagering Board (Board) approved the New York Racing Association, Inc. (NYRA) request to reduce the takeout rates on NYRA (Aqueduct, Belmont, Saratoga Thoroughbred) races for all EXOTIC WAGERS (pick 3, pick 4, trifecta, superfecta, grand slam) from 26% to 24%; SUPER EXOTIC WAGERS (pick 6 with no carryover) from 16% to 15%; and SUPER EXOTIC WAGERS (pick 6) with a carryover from 26% to 24%.
This action was taken by the Board because the existing takeout rate on EXOTIC BETS on NYRA races and as a result at its guest facilities exceeded the statutory maximum allowable rate by 1% from the period September 15, 2010 through December 18, 2011. Subsequently, NYRA and each track and OTB which accepted exotic wagers on NYRA races during the aforementioned time period retained more than was legally allowable and the winning bettors received less than required by law.
UNCAHSED TICKETS
Buffalo Raceway instructed its tote provider to remove from the “2011 Outs Book” all NYRA winning wagers from January 1, 2011 through December 18, 2011, and to create a “Special NYRA Outs Book”. This means that when a patron attempts to cash any winning ticket on a NYRA race during the aforementioned period via teller or self serve terminal, it will display on the teller screen “no such ticket” and the ticket will have to be manually cashed by Guest Services after examining the ticket and finding it valid in the “Special NYRA Outs Book”.
If the winning wager is not a Qualifying Un-Cashed Winning Ticket that is entitled to an adjusted higher payout, it will be paid at face value immediately upon presentation.
If the winning wager is a Qualifying Un-Cashed Winning Ticket that is entitled to an adjusted higher payout it will be paid at original face value immediately upon presentation, and after NYRA provides Buffalo Raceway with the recalculated payoffs, Buffalo Raceway will contact those patrons who are eligible and make the adjusted cash payment.
If the winning wager is a Qualifying Un-Cashed Winning Ticket that is entitled to an adjusted higher payout (presented after NYRA recalculates prices), it will be paid at the recalculated NYRA price immediately upon presentation.
W2G
Each and every patron who has previously “signed” for a W2G winning wager at Buffalo Raceway from September 15, 2010 through December 18, 2011 and were issued a W2G form at the time of payout will be mailed the NYRA W2G Claim Form to the address written on their completed W2G form informing them that they may be eligible to submit a claim for reimbursement for a corrected payout on a qualifying NYRA race. In addition, copies of the W2G completed forms will be available at Guest Services for patrons who have questions about their eligibility or have lost their copy of the completed form. At such time that the recalculated payoffs are provided by NYRA to Buffalo Raceway, the claim will be reviewed by the Director of Operations of Buffalo Raceway, and if eligible for a reimbursement will be processed by Guest Services. After NYRA provides Buffalo Raceway with the recalculated payoffs, Buffalo Raceway will contact those patrons who are eligible and make cash payment.
Any further questions may be directed to the Director of Operations at 649-1280 ext 200