The New York Racing Association said a new rule puts unreasonable restrictions on customers who do not immediately cash winning tickets.
Effective for 2009, the New York State Racing and Wagering Board will put new restrictions on players who do not cash tickets of $300 or more within ten days. The restrictions will require such tickets be cashed at specific designated pari-mutuel windows in which the name, home address, date of birth, and social security number of the patron can be verified.
The new rule begins Thursday. Previously, winning tickets could be cashed at any window within a year of purchase, although tickets that require tax information—typically winners at odds of 300-to-1 or more—are forced to use specific windows. NYRA said no other track requires a similar policy of players.
“The New York Racing Association is the industry leader in integrity based on its anti-money laundering policies, its race day security barns, and its refusal to do business with unregulated offshore rebate shops,” NYRA President Charles Hayward said. “However, this rule is not about integrity; it is further inconveniencing the customer who is fortunate enough to have placed a winning wager.
“No other state in the country punishes its customers for holding on to a winning ticket for more than 10 days. Given the current state of the industry and the economy in general, this new ruling could not have come at a worse time.”
The rule will allow such tickets to be cashed by mail as long as the required information is provided and the pari-mutuel outlet maintains such a service.
The rule also calls for the pari-mutuel manager to provide, upon request by the racing and wagering board, a list of the outstanding pari-mutuel tickets cashed the previous day, each outstanding ticket or a photocopy of that ticket, and the required player information