Posted 12/15/10 : New York State Racing and Wagering Board approves advanced deposit wagering online
 
Following the closure of the New York City Off-Track Betting (NYCOTB) Corporation, an emergency measure was approved by the New York State Racing and Wagering Board to allow advanced deposit wagering accounts to be processed over the internet.  The move is said to have been instituted to "safeguard the integrity of the pari-mutuel wagering system".
 
John Sabini, Chairman, New York State Racing and Wagering Board said: “Our goal is to prevent the potential migration of betting dollars to out-of-state and unregulated entities by allowing in-state account wagering operations to quickly process applications for Internet and telephone betting accounts.”
 
The Board revealed that applications from the New York Racing Association (NYRA), Nassau Regional OTB, Catskill Regional OTB and Yonkers Raceway to process account applications over the Internet had been approved as well as an application from Saratoga Gaming and Raceway that will see it accept deposits and requests for withdrawals from accounts with the use of credit and debit cards as well as ACH transactions.