|Wednesday, April 30, 2008
|New York Passes Rule Requiring Real Time Monitoring of Wagering
Statement of RCI President Ed Martin The New York State Racing and Wagering Board today gave final passage of a rule requiring that tote companies provide for the independent monitoring of all pari-mutuel pools. The independent, automated, real time monitoring of wagering pools is a badly needed reform that first came to light following the 2002 Breeders Cup Pick-Six felonies.
“Upon implementation, wagering pools in New York handling almost $3 billion in wagering annually will be aggressively monitored to safeguard against fraud, money laundering, race fixing, odds manipulation, past posting, cyber crime and other activities that undermine consumer confidence in our sport.
“This is a major development and Chairman Dan Hogan and Commissioners Mike Hoblock and John Simoni should all be commended for taking this action.
“I am optimistic that other jurisdictions will follow to not only protect the integrity of their domestic track pools but eliminate a competitive advantage New York tracks will have starting January 1, 2009 when they can legitimately claim to the betting public, particularly large bettors, that their pools are more secure because of the real time independent monitoring precautions that are in effect.
“All RCI member jurisdictions have endorsed the real time independent monitoring of pari-mutuel pools by passing a model rule requiring such. Some states are seeking state funds for monitoring while others (i.e. New York) are moving to impose a mandate on licensees.
“This is another step forward in a long march to address serious integrity issues that have eroded public confidence in our sport and continue to jeopardize industry jobs be they at the track, in a racing stable or at a breeding farm.”