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Global Betting Exchange (GBE) selected as tentative winning bidder to provide upgrades to NYRA advance deposit wagering platform

By Eric Wing | 11/14/2013 02:22 PM ET

The New York Racing Association, Inc. (NYRA) announced today that Global Betting Exchange (GBE) has been chosen as the tentative winning bidder - pending finalization - to provide technological upgrades to NYRA's advance deposit wagering platform, NYRA Rewards.

"Our NYRA Rewards members will benefit from having one of the most technologically advanced companies in the industry create a new platform that will make online wagering easier and more efficient and enjoyable," said Chris Kay, CEO and President of The New York Racing Association.

The selection was the culmination of a rigorous Request for Proposal (RFP) procedure during which NYRA worked closely with New York State officials, outside procurement counsel and subject-matter consultants. The process included the drafting of an extensive and clear RFP - one that required each bidder to explicitly set forth its areas of technical expertise. Thereafter, the bidders' proposals were thoroughly reviewed and analyzed by a team of NYRA executives possessing subject-matter proficiency. The selection was made utilizing a weighted formula that was developed by NYRA and state officials, and included in the RFP.  

"We utilized a new RFP procedure and included several individuals in this decision-making process who were not involved in the last selection," said Kay. "Using an objective formula, developed in concert with the state, we selected an exciting technology company that withstood the scrutiny of an in-depth, step-by-step technical and financial analysis. I was also pleased to be told by outside counsel that the RFP evaluation was thorough, fair and performed in an extremely professional manner by our team."

NYRA had selected GBE earlier this year to provide similar services. However, the contract was re-bid at the request of the Franchise Oversight Board.

About The New York Racing Association, Inc.
NYRA's mission is "Meeting the highest standards in thoroughbred racing and equine safety." Founded in 1955, and franchised to run thoroughbred racing at New York's three major tracks (Aqueduct Racetrack, Belmont Park, and Saratoga Race Course) through 2033, NYRA boasts a lineage that actually stretches back almost 150 years. NYRA tracks are the cornerstone of the state's thoroughbred business which contributes more than $2 billion annually to New York State's urban, suburban and rural economy. In 2012, nearly 1.8 million people attended the live races at NYRA tracks. Factoring in nationwide off-track wagering, the average daily betting handle on NYRA races totals more than $9 million. NYRA has a vast network of websites, including nyra.com, belmontstakes.com and nyragroupsales.com. You can also follow NYRA on social media platforms Facebook, Twitter, YouTube​, and Instagram.