NYRA to receive $25 million loan from state

Horseracing Betting Lines

05/25/2010 - Elmont, NY (Sportsbook Betting Lines) - The New York Racing Association (NYRA) will receive a loan of $25 million from the State of New York to continue operations beyond Wednesday, June 9. A spokesman for Gov. David Patterson said Tuesday that the loan was approved by the state legislature.

"The Board of Directors of the New York Racing Association, Inc. along with its management and dedicated employees are grateful for the State legislature's approval last evening of a $25 million loan which guarantees world class thoroughbred racing at Belmont Park, Saratoga Race Course and Aqueduct Racetrack," NYRA chairman C. Steven Drucker said in a statement.

"We appreciate the dedication and perseverance of Gov. David Paterson," Drucker continued, "Assembly Speaker Sheldon Silver, Senate Conference Leader John Sampson, Senate racing committee Chairman Eric Adams, and Assembly racing and wagering committee Chairman Gary Pretlow, and their respective staff members, which resulted in this legislation."

Notices were sent out last Thursday to NYRA employees that due to financial problems, racing operations and facility closings would begin as soon as June 9.

The NYRA is franchised by the State of New York to operate the three racetracks through 2033.

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Online Sportsbook Football Betting

Why Sports Betting is so much fun?

Betting Sports

The most popular sports to bet on are NFL and college football along with NBA and NCAA basketball. There are multiple betting opportunities within those sports, beginning with the basic wager on a game’s outcome (also called betting the side). College Football Point spreads are used in both football and basketball in an attempt to even the attractiveness of each team in a match-up. ( See our article detailing how and why point spreads are made)

But you could also simply bet on the money line, or straight-up winner of the game. Oddsmakers use the money line so that more money must be risked on the favorite or expected winner and less money on the underdog to balance the action on both sides. While money line gambling is an attractive option for football and basketball bettors who only care about picking a winner, it is the primary option for those bettors who enjoy wagering on MLB baseball and individual sports like boxing, tennis, golf and racing events such as NASCAR. ( More details on playing the Money Line)

Points (or Runs) Scored

Another bet across all major team sports including football, basketball, baseball, and hockey involves wagering on the amount of scoring in a game, called an Over/Under total. For example, the Over/Under total on Super Bowl XXXIX was 48, which means a bettor could wager whether there would be more or less than 48 points scored by both teams combined in the game.

The final score of Super Bowl XXXIX was 24-21; the scoring of both teams added up to 45, which means the game went Under . So Under bettors won, and Over bettors lost.

Future Bets

Sports gambling doesn’t end there. Betting sides and totals are the most common wagers available everywhere, but many sportsbooks also offer future bets on big upcoming events like who will win next year’s Super Bowl and what movie will win Best Picture at the Academy Awards.

The main advantage of futures is that you can get appealing odds by betting far in advance. For example, with NFL futures you often can get much higher odds on a team by betting before the season even starts. A NFL future bet on a team to win the Super Bowl odds might be 20/1 in the preseason; but by midseason, their odds might decrease to 10/1 if they turn out to be legitimate championship contenders.

Proposition Bets (or Prop Bets)

Proposition bets , also known as prop bets, focus upon the more exotic aspects of a game and are generally reserved for events that are widely televised. Prop bets are extremely popular when it comes to wagering on the Super Bowl in Las Vegas. The Imperial Palace Casino’s sportsbook is well-known for the enormous number of prop bets offered. For example, you can bet on:

Types of Bets

Straight Bet

Involves one individual wager, whether it be on your team to cover the point spread, to win the game straight-up on the money line, or to go over/under the total.

Sports Betting Parlays

A parlay is a single bet that links together two or more individual wagers and is dependent on all of those wagers winning together. The benefit of the parlay bet is much better odds than placing each individual bet separately since the difficulty of hitting it is much higher.

Standard payoffs on a two-team parlay are 13/5; while a three-teamer pays 6/1; and a four-teamer 10/1.

Parlay cards are also fairly common in sportsbooks and popular with bettors, as they are released early in the week with set odds that do not change in return for a slightly lower payoff.

Round Robin Betting

Adventurous bettors who enjoy betting parlays sometimes put together a series of parlays called a Round Robin . A three-team Round Robin consists of one three-team parlay and three two-team parlays. For example, Joe likes teams A,B,C – with a Round Robin he has a three-teamer with ABC, and two-teamers with AB, AC, and BC.

Betting Teasers

Similar to a parlay, a teaser bet is a single bet that links together two or more individual wagers, but is different in that the point spread is adjusted to your advantage on each individual wager. In exchange for the points, you get less of a return on your bet compared to a parlay. For example, a 6-point teaser would move the line on a 7-point favorite from -7 to -1, meaning the team would have to cover 6 less points. Each of the individual wagers must win or the bet is a loss.

These are the main types of sports bets available today. But as sports betting continues to grow, sportsbooks will continue to develop new and creative ways to bet. We’ll continue to track these changes to the sports gambling landscape, so check back often and we’ll tell you all about it!

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