Verizon Weighs Sports Gambling as
open nassau otb on frsnk dtonach day
Live Racing Search Results
Sunday, April 1, 2018
Track Code Track Name Entry Scratch 1st Post
ET 1st Post
Local Time
Zone Stakes Race(s) Stakes Grade T.V.
Indicator GG GOLDEN GATE FIELDS 48 24 3:45 PM 12:45 PM PDT GP GULFSTREAM PARK 72 0 1:15 PM 1:15 PM EDT SA SANTA ANITA PARK 72 24 3:30 PM 12:30 PM PDT SUN SUNLAND PARK 120 0 2:30 PM 12:30 PM MDT
Sunday, April 1, 2018
| Track Code | Track Name | Entry | Scratch | 1st Post ET | 1st Post Local | Time Zone | Stakes Race(s) | Stakes Grade | T.V. Indicator |
|---|---|---|---|---|---|---|---|---|---|
| GG | GOLDEN GATE FIELDS | 48 | 24 | 3:45 PM | 12:45 PM | PDT | |||
| GP | GULFSTREAM PARK | 72 | 0 | 1:15 PM | 1:15 PM | EDT | |||
| SA | SANTA ANITA PARK | 72 | 24 | 3:30 PM | 12:30 PM | PDT | |||
| SUN | SUNLAND PARK | 120 | 0 | 2:30 PM | 12:30 PM | MDT |
Claude Solnik
Long Island Business News
2150 Smithtown Ave.
Ronkonkoma, NY 11779-7348
Home > LI Confidential > Stop scratching on holidays
Stop scratching on holidays
Published: June 1, 2012
Off Track Betting in New York State has been racing into a crisis called shrinking revenue. Some people have spitballed a solution: Don’t close on holidays.
New York State Racing Law bars racing on Christmas, Easter and Palm Sunday, and the state has ruled OTBs can’t handle action on those days, even though they could easily broadcast races from out of state.
“You should be able to bet whenever you want,” said Jackson Leeds, a Nassau OTB employee who makes an occasional bet. He added some irrefutable logic: “How is the business going to make money if you’re not open to take people’s bets?”
Elias Tsekerides, president of the Federation of Hellenic Societies of Greater New York, said OTB is open on Greek Orthodox Easter and Palm Sunday.
“I don’t want discrimination,” Tsekerides said. “They close for the Catholics, but open for the Greek Orthodox? It’s either open for all or not open.”
OTB officials have said they lose millions by closing on Palm Sunday alone, with tracks such as Gulfstream, Santa Anita, Turf Paradise and Hawthorne running.
One option: OTBs could just stay open and face the consequences. New York City OTB did just that back in 2003. The handle was about $1.5 million – and OTB was fined $5,000.
Easy money.
Legalization Nears
By and- $4.5 billion Yahoo deal could have a payoff in online betting
- U.S. Supreme Court decision on gambling laws coming this year
Verizon Communications Inc. is considering entering the multibillion-dollar market for sports betting, which could become legal in the U.S. before the year is out, according to people familiar with the matter.
The New York-based phone giant, which last year bought Yahoo, has been meeting with experts and consultants to assess the potential for a sports-focused online gambling venture if the laws in the U.S. change, said the people, who asked not to be identified discussing private information. The U.S. Supreme Court is expected to issue a decision early this year in a case that challenges the current federal prohibition on sports gambling.
Verizon declined to comment. The company may ultimately decide to stay away from gambling. After an earlier exploration, Verizon concluded that entering the business, dominated by casinos, would be a formidable competitive challenge, one of the people said.
But Verizon is trying to transform itself into a more diversified media business with deals like its $4.5 billion acquisition of Yahoo, and gambling is a tempting potential growth market. The company has the nation’s largest mobile network, with more than 100 million subscribers, and Yahoo has 1.3 billion users. Yahoo’s fantasy sports unit has tens of millions of fans who spend 30 billion minutes a year managing imaginary teams and picking players, often paying fees to participate in guaranteed prize pools.
Instead of trying to build a gambling business internally, Verizon could look at acquiring online sports-betting companies to speed up the process. That’s a strategy it has used in the past to get into a new line of business, such as its acquisition of Intel Corp.’s OnCue video service in 2014.
Verizon also has streaming rights to some National Football League and National Basketball Association games, which opens the door to live betting alongside broadcasts, a popular offering in markets like the U.K. Last week, when Verizon announced an expanded streaming deal with the NBA, Chief Executive Officer Lowell McAdam and NBA Commissioner Adam Silver discussed a $25 million joint investment to develop features like quarter-by-quarter fantasy betting. Both Verizon and the NBA see such contests as a way to boost fans’ interest and engagement in live games, even otherwise boring ones.
A fully regulated U.S. gambling market would be worth as much as $15.8 billion in revenue, according to a study by Eilers & Krejcik Gaming. That could include 44 million customers wagering $245 billion annually -- about three times bigger than the firm’s estimate of the current black market for sports betting in the U.S.
Among the estimated black-market American betters, more than 90 percent place bets online.
After the Yahoo deal, Verizon created a media division called Oath, which is run by Tim Armstrong. Oath contains Yahoo Fantasy, which for decades has been the most popular online service for season-long fantasy contests. In 2015, Yahoo began offering for-money daily fantasy contests, which many consider a legal proxy for outright betting. It is now a distant third in the daily fantasy sports world, which is dominated by DraftKings Inc. and FanDuel Inc. Those two larger rivals are also likely to consider becoming sports books if the laws change, Bloomberg reported last week.
— With assistance by Ira Boudway
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