NYRA to implement new guardrails for CAW activity
The New York Racing Association, Inc. (NYRA) today announced the implementation of a new policy designed to reduce late-stage odds volatility by establishing guardrails around Computer Assisted Wagering (CAW) activity within NYRA’s pari-mutuel wagering pools.
Beginning February 5, NYRA will require CAW activity to cease at one minute to post in all wagering pools not previously subject to high-speed wagering restrictions. As such, NYRA will institute a comprehensive approach to the management of CAW activity for the benefit of horseplayers.
CAW activity is defined by NYRA and its peer tracks according to the speed of wager execution. NYRA considers wagering to be CAW activity when that speed exceeds six bets per second.
“This policy reflects the importance of modernizing pari-mutuel wagering to address the technology-driven evolution of high-speed wagering,” said David O’Rourke, NYRA President & CEO. “Reducing odds volatility will increase pricing transparency and improve the wagering experience for horseplayers in New York and across the country.”
In 2021, NYRA became the first racing organization in the United States to establish a timing restriction for CAW activity specific to the win pool. The measure, which prohibits CAW play into the win pool later than two minutes to post, has successfully eliminated dramatic late odds fluctuations while providing NYRA with a foundation of relevant data and information.
The current NYRA win pool policy will remain in effect and NYRA will continue to offer its Late Pick 5 and Pick 6 as retail only wagers.
About The New York Racing Association, Inc. (NYRA)
NYRA is a not-for-profit corporation franchised by New York State to conduct thoroughbred racing at Aqueduct Racetrack, Belmont Park and Saratoga Race Course. NYRA tracks are the cornerstone of New York State’s horse racing economy, which is responsible for 19,000 jobs and more than $3 billion in annual statewide economic impact.
NYRA is the parent company of NYRA Bets, LLC, the national advanced deposit wagering platform launched in 2016 and currently available to customers in 37 states. The NYRA Bets app is available for download on iOS and Android at NYRABets.com.