The world’s largest online casinos racebook in the world, TCBets, has offered to buy NYRA, the New York Racing Association, for $250 million. According to Charlie Haywood, the president of NYRA, the association has lost large sums of money over the past 2 years and predicts that the end of November, it will completely run out of funds. The online casinos racing leader not only wants to buy the organization, it also wants to run it.
‘We have $250 million in place to make this deal happen. Racing in New York would immediately get better. Changes would be made regarding wagering. TCBets has the management to provide the racetrack patron with a much more positive experience than he is currently receiving,’ said David Banks, CEO of the online casinos racebook giant. Other reasons for the organization’s failure include indictments of key personnel, no bid contracts, and race fix allegations, to name a few. It seems that online casinos race fans would surely benefit from this potential acquisition.
Gambling is an industry, and as such is susceptible to abuse and corruption. What has happened to the NYRA is unfortunate and disheartening. However, there is a silver lining in this cloud. If TCBets is chosen to buy out the current racing association, online casinos and land-based casinos fans will have a more efficient, organized and respectable entity in which to place their bets. And as far as online casinos race bettors are concerned, that is good news.