NYRA restricts CAW win pool timing which prompts their departure

[Kasept]

https://www.drf.com/news/nyra-puts-r...ering-programs

Only a few people noticed that there had not been significant late odds movement at Saratoga the last three+ weeks. Details emerged this week with Dave O’Rourke discussing the restrictions at the Albany law conference.. Bots get mad. Bots go elsewhere.

[Kasept]

NYRA puts restrictions on win pool for computer-assisted wagering programs
Matt Hegarty

SARATOGA SPRINGS, N.Y. – The New York Racing Association on July 28 began requiring computer-assisted wagering programs to place win bets on its races prior to three minutes to post, a decision that has led the operators of the programs to stop betting into the win pool entirely, NYRA officials said this week.

The decision was made to address perceptions that the programs are significantly contributing to late changes in win-pool odds on races at NYRA’s Saratoga Race Course, according to the officials. CAWs, as the programs are known, are frequently blamed for late odds changes due to the ability of the programs to swiftly analyze win-pool odds and place enormous wagers within seconds of the gates opening.

“For the everyday player, dramatic late odds shifts are a frustrating side effect of high-volume wagers placed at the last possible second,” said Patrick McKenna, NYRA’s senior director of communications, in a prepared response to questions.

Many players have been clamoring for CAWs to face restrictions on their wagering activity due to their many advantages, which include direct access to bet-processing systems and the ability to send thousands of bets into the pools in a matter of seconds. The operators also receive sizeable rebates on their handle, typically far above the rebates offered to individual players.

Earlier this year, NYRA banned CAWs from its pick six, which followed earlier decisions to ban the groups from the association’s late pick five and the multi-track Cross Country Pick 5 that is hosted by NYRA.

The ban on win bets within three minutes to post prevents the programs from conducting a precise analysis of potential final win odds because the vast majority of bets from all players are now placed within that time frame. Typically, CAWs operate by conducting their analyses of the win pool as close to post time as possible in order to identify variances in the pools between the actual win prices and the prices derived by the algorithms used by the programs.

The win pools did take a hit, according to wagering data. As of July 28, the first day the CAWs were given the three-minute barrier, win pools have been down approximately 12 percent per race. But NYRA’s overall handle hasn’t budged since the restriction was implemented. Average per-race handle, including all wagering pools, was $2.01 million before the restriction, according to data collected by DRF, and it has remained $2.01 million after its implementation.

Granted, NYRA had some blockbuster days in the three weeks since the restriction was put in place, including the Aug. 7 Whitney card, which drew a record $37.0 million in total bets. NYRA also is generating solid growth in its betting this year, with total handle per-race up 9.2 percent compared to 2020 and 21.1 percent since 2019.

“Despite [the restrictions on CAW wagering], NYRA is on pace to break the all-time wagering record for Saratoga,” McKenna said.

McKenna said that the operators that have been banned include all known CAW wagering groups, which typically access the pools through offshore operations. Two of the largest operations are owned by Churchill Downs Inc. and by 1/ST Racing, the two large vertically integrated racing companies that also operate their own account-wagering companies that cater to everyday players.

McKenna said in his prepared responses that NYRA is pleased so far with the decision to implement the restriction in the win pool.

“This policy has increased transparency in the win pool, allowing for horseplayers to assess value more accurately as post time approaches,” he said. “As has been the case with the NYRA Late Pick 5, the Cross-Country Pick 5, and the Pick Six, NYRA will continue to evaluate the overall impact of these changes while prioritizing the everyday horseplayer who supports our racing 12 months a year.”

[Kasept]

Pretty telling about their mindset that when the groups have one of their (significant) advantages neutralized, they go elsewhere.

[freddymo]

Hallandale Beach is beautiful in August.

[ADJMK]

Originally Posted by Kasept

Pretty telling about their mindset that when the groups have one of their (significant) advantages neutralized, they go elsewhere.

GEI AVEK- we won't miss u