NYRA Mistakeout Refunds Taking Shape

[alphanumeric1]

Capital OTB in upstate NY has claim policies and forms ready as of today. I already picked up mine. However, I have seen no similar effort by NYRA. Kinda curious.

The info below is from the Capital OTB web site...

NYRA Wagers: Corrected Payout Reimbursement Procedure
This document sets forth both policy & procedure for remediating and addressing reimbursement for account wagering (telephone and internet wagering) Capital OTB customers, holders of qualifying un-cashed winning tickets (“OUTS ticket”), and other customers who can be identified through Account Wagering (“ADW”) and IRS reporting (collectively the “Customer”),
within the time frames (from September 15, 2010 through December 18, 2011) as directed by the New York State Racing & Wagering Board (“RWB”) based on New York Racing Association (“NYRA”) improperly charging a takeout rate of 26 percent -- 1 percentage point higher than allowed by law -- on the following exotic wagers: Trifecta, Pick 3, Pick 4, Grand Slam and Superfecta wagers.
Methods to request a credit for reimbursement for account wagering Capital OTB customers, and other customers who can be identified through IRS reporting or the bearer of an unexpired qualifying un-cashed winning ticket (by credit to account holders ADW account and for nonADW account holder by a voucher) are noted below.

POLICY #1– and for all affected Capital OTB account wagering and W2G winning
bettors/customers to submit a claim for reimbursement for correct payout
1. On or after January 10, 2012 Capital OTB shall publish information on the claim procedure on the OTB website, OTB TV broadcast, and post informational posters at all branches and Teletheaters.
2. On or after February 17, 2012 (or such later date as NYRA provides to OTB the recalculated payoffs), Capital OTB shall notify each identified affected Customer (a Customer who has submitted a NYRA Takeout Claim Form) of their potential claim. Such notice shall be in writing either by mail, or if email address is available, by electronic means.
3. Credits are not automatic. Customer must request their credit in writing and by filing a NYRA Takeout Claim Form and submitting such to the Capital OTB Customer Service Office. Most credits will be processed within ten (10) business days of receipt of such NYRA Takeout Claim Form but in no event later than March 30, 2012. Any unexpired qualifying un-cashed winning tickets submitted for payment shall be paid only after recalculated payoffs.

[alphanumeric1]

I actually got my rebated $$ this morning in my NYRA account.

Still waiting for any info from Capital OTB..they are not very forthcoming with amounts or dates to expect refunds.

[pointman]

Originally Posted by alphanumeric1

I actually got my rebated $$ this morning in my NYRA account.

Still waiting for any info from Capital OTB..they are not very forthcoming with amounts or dates to expect refunds.

I just checked my NYRA account after seeing your post and have gotten a welcome surprise as I have been rebated as well! For anyone that might think it does not make much difference, I just got back quite a nice chunk of change!