State Sets Rules for OTB Bailout

The government has laid out some conditions now that they've agreed to keep the cash strapped organization open for another year. The rescue plan includes opening 600 “quick bet” kiosks in private sports bars, closing most of the OTB parlors and eventually laying off half of the 1,300 workers. Gov. Paterson said, “We will be helpful to them to the extent we can be,” and assured that no taxpayer dollars will go toward the funding. Betters are rejoicing at the news. One Washington Heights gambler said “It’s a great sport, and OTB is a great place to hang out.” However, others just wish it would go away for good. “I wish they could close it—I’d save money!” said better Joe Rizzo. “I don’t even know myself how much money I’ve lost here.”

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By Jaya Saxena in News on April 18, 2010 4:35 PM

Comments [rss]

FelixtheCat & Christine Quinn'

it is a bailout, OTB owes the state money and it is now off the hook. also this bailout doesn't save jobs since the OTBs centers will be closed but funds the corrupt management. Great to see how Sen. marty Golden in their pockets pull this out for them. Close hospitals Save OTB

Mordicai

What a farce. Can we start bailing out check cashing scams next?

Guest

this whole otb thing is getting a little out of hand.

Ronnie Dobbs

bettors, not betters

Mr Mel

If a bomb went off in an OTB parlor, there probably wouldn't be one Missing Person Report filed.

amg2000

No offense to gamblers, but I've walked by the OTB in my neighborhood many, many times over the years, and the guys who hang out in front of it every day don't look exactly like winners to me, they remind me more of the morning crew at Three Roses that used to be on Canal Street across from the post office.