Word: nyra
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PHONE IT IN If you want to place a legitimate bet, the easiest way for a novice player to write a Belmont ticket is to start a New York Racing Authority (NYRA) account via telephone. Call 1-800-THE-NYRA; you no longer need to deposit a $100 minimum to bet the Stakes, since NYRA has changed the required balance to a buck. You can phone in bets a minute before post time, but leave at least a week to set up the account because you must mail a check to New York. NYRA accepts wagers from residents...
Simulcasting allows a race at one track to be seen over television sets at other tracks across the country. Bettors at these satellite locations can wager on horses at the home track, which means money flows into NYRA races even if the bettors aren’t in New York...
More simulcasting meant more money, so Crist negotiated deals with many tracks to start carrying simulcasts of NYRA’s races. In 1994, the total amount bet on NYRA races—or the “handle” in racing parlance—was $205 million. The next year, it was $589 million...
...Steve got it,” says Bill Nader, a NYRA senior vice-president who served as director of simulcasting and television under Crist, “and he got it not because he went to Harvard, not because he’s a highly intelligent guy, but because he had great business sense in thoroughbred racing...
...several months after he left NYRA, frustrated by the lack of change in the heavily-regulated world of horse racing, the legendary paper was put up for sale...