How to Bet
| INTRODUCTION TO PARI-MUTUEL WAGERING | |
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When you place a bet at any of the three
NYRA racetracks - Aqueduct, Belmont Park or Saratoga Race, you are
betting against everyone who is making the same type of wager in the
same race, whether they are on-track patrons or participating in the
wagering process from simulcast sites across the nation. The racetrack
simply deducts a percentage from each dollar wagered for payment of
purses, expenses and state taxes. This deduction or takeout is less
than 20 percent at NYRA tracks with over 80 percent of all wagers
returned to the bettors. Unlike casino gambling, where you are betting
against the house, Thoroughbred racing is a "parimutuel venture." Pierre Oller introduced "parier mutuel" in his native France in 1865 meaning "mutual stake" or "betting among ourselves." As this form of wagering was adopted in England it became known as "Paris mutuals," and soon thereafter "parimutuels." Pari-mutuel odds reflect how much is wagered on each horse or combination relative to the size of the mutuel pool. You must be 18 or older to wager at NYRA racetracks |
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| CASHING MUTUEL TICKETS BY MAIL | |
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Winning pari-mutuel tickets from all races conducted in 2006 at Aqueduct Racetrack, Belmont Park and Saratoga Race Course must be cashed on or before March 31, 2007. They can be cashed during any race day at Belmont Park through October 22, 2006 or at Aqueduct from October 25, 2006 through March 31, 2007. You cannot cash winning NYRA mutuel tickets at any other racetrack or OTB. Winning NYRA mutuel tickets may also be sent by certified or registered mail to the following address and must be received no later than March 31, 2007: New York Racing Association ATTN: Mutuel Dept. PO Box 90 Jamaica NY 11417 The physical address for NYRA is the following: Aqueduct Race Track 110-00 Rockaway Blvd. Jamaica NY 11417 It is advised that you keep copies for your records. For winnings that exceed 300-1 odds - more than $600 - the Internal Revenue Service requires that a W2-G Tax Form is completed. This form requires two proofs of identity: 1, Copy of Drivers License; and 2, Copy of Social Security Card or a card that establishes your identity and includes your social security number. All winnings subject to reporting and/or withholding as described in IRS form W2G will be administered in accordance with applicable IRS code. |
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| WIN, PLACE AND SHOW | |









