BILL NUMBER: S4865
SPONSOR: FAHY
 
TITLE OF BILL:
An act to amend the racing, pari-mutuel wagering and breeding law, in
relation to the authority of the capital district regional off-track
betting corporation to retain and disburse certain uncashed tickets
 
PURPOSE:
To allow Capital District Regional Off-Track Betting Corporation to
retain any uncashed tickets and disburse such monies collected from
tickets to the corporations' participating counties.
 
SUMMARY OF SPECIFIC PROVISIONS:
Section one amends section 529 of the racing, pari-mutuel wagering and
breeding law by adding a new subdivision 3 that allows Capital District
Regional Off-Track Betting Corporation to retain any uncashed tickets
and disburse such monies collected from tickets to the corporations'
participating counties.
 
JUSTIFICATION:
Capital District Regional Off Track Betting Corporation is one of two
OTBs/Race tracks in New York that does not have video lottery terminal
gaming devices a revenue stream to help subsidize racing operations.
This inequity means that Capital District Regional Off Track Betting
Corporation must rely on horse racing bets alone to generate revenue for
the local governments that comprise the OTB.
Due to out of state race wagering companies and sports betting, horse
race wagers placed at Capital District Regional Off Track Betting Corpo-
ration branches or website and other in state legacy racing interest
have seen a significant decrease over the past several years. The impact
of this market change is more impactful to Capital District Regional Off
Track Betting Corporation because they do not have video lottery termi-
nals to help subsidize its operation.
This bill generates additional revenue for the county governments that
comprise Capital District Regional Off Track Betting Corporation by
allowing uncashed tickets from bettors in that region to be disbursed to
the aforementioned county governments directly.
 
LEGISLATIVE HISTORY:
2023/2024: S.9567
 
FISCAL IMPLICATION:
This bill would increase revenue for local governments that comprise
Capital Off Tracking Betting Corporation.
 
EFFECTIVE DATE:
This act shall take effect immediately.