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Author Topic: New IRS regulations  (Read 1502 times)

Edgorman

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New IRS regulations
« on: September 26, 2017, 05:27:12 PM »
This will be great for horse racing.  Any idea when NYRABETS will comply??
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Molesap

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Re: New IRS regulations
« Reply #1 on: September 27, 2017, 04:31:25 PM »
Xpressbet just announced it will start the new IRS rules on Thursday 9/28. I suspect since part of the impetus was to increase the handle and increased handle is good for ADW corporation, they would institute it as soon as feasibly possible...then again it is NYRA.
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TGJeff

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Re: New IRS regulations
« Reply #2 on: September 27, 2017, 05:23:06 PM »
All,

NYRA Bets informs that they are awaiting official confirmation from Amtote (same tote company as XB), and expect to be compliant next day or so. All of the technology is supplied by the tote.

Thanks,

TGJeff
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Edgorman

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Re: New IRS regulations
« Reply #3 on: September 27, 2017, 06:47:33 PM »
Amwager already sent email that they are ready to comply  as of tomorrow.
Hopefully, NYRABETS will follow suit.
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TGJeff

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Re: New IRS regulations
« Reply #4 on: September 27, 2017, 08:37:49 PM »
NYRA and NYRA Bets will be in full compliance with the new IRS regs tomorrow, Thursday. They have issued a press release on their website (nyra.com/belmont/news) which confirms this.

TGJeff
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Edgorman

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Re: New IRS regulations
« Reply #5 on: September 27, 2017, 09:01:28 PM »
Thanks Jeff.  Good decision.
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