New IRS regulations

[Edgorman]

This will be great for horse racing.  Any idea when NYRABETS will comply??

[Molesap]

Xpressbet just announced it will start the new IRS rules on Thursday 9/28. I suspect since part of the impetus was to increase the handle and increased handle is good for ADW corporation, they would institute it as soon as feasibly possible...then again it is NYRA.

[TGJeff]

All,

NYRA Bets informs that they are awaiting official confirmation from Amtote (same tote company as XB), and expect to be compliant next day or so. All of the technology is supplied by the tote.

Thanks,

TGJeff

[Edgorman]

Amwager already sent email that they are ready to comply  as of tomorrow.
Hopefully, NYRABETS will follow suit.

[TGJeff]

NYRA and NYRA Bets will be in full compliance with the new IRS regs tomorrow, Thursday. They have issued a press release on their website (nyra.com/belmont/news) which confirms this.

TGJeff

[Edgorman]

Thanks Jeff.  Good decision.