NYRA to receive $25 million loan from state

Horseracing Betting Lines

05/25/2010 - Elmont, NY (Sportsbook Betting Lines) - The New York Racing Association (NYRA) will receive a loan of $25 million from the State of New York to continue operations beyond Wednesday, June 9. A spokesman for Gov. David Patterson said Tuesday that the loan was approved by the state legislature.

"The Board of Directors of the New York Racing Association, Inc. along with its management and dedicated employees are grateful for the State legislature's approval last evening of a $25 million loan which guarantees world class thoroughbred racing at Belmont Park, Saratoga Race Course and Aqueduct Racetrack," NYRA chairman C. Steven Drucker said in a statement.

"We appreciate the dedication and perseverance of Gov. David Paterson," Drucker continued, "Assembly Speaker Sheldon Silver, Senate Conference Leader John Sampson, Senate racing committee Chairman Eric Adams, and Assembly racing and wagering committee Chairman Gary Pretlow, and their respective staff members, which resulted in this legislation."

Notices were sent out last Thursday to NYRA employees that due to financial problems, racing operations and facility closings would begin as soon as June 9.

The NYRA is franchised by the State of New York to operate the three racetracks through 2033.

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SPORTS BETTING

NFL Football Betting Online

In terms of sports wagering, the NFL is "the most popular game in town." The explanation behind that is easy.

It is called the "pointspread."

Many years ago, NFL games, as well as the more popular college games, used straight odds as a vehicle for betting. For example, if the Bears were playing the Giants, and it shaped up as a competitive contest, the Bears might be, say, a 7/5 favorite. If they were playing an also-ran, it might be 10/1. Well, there is a point where a line becomes prohibitive, as far as betting the favorite. And who would waste money betting an underdog that has virtually no chance? Such a setup did not contribute to promoting betting action.

But in modern sports betting, a "pointspread" is used.

A NFL pointspreads are exactly that, a pre-established point difference between the two sides that will, for all intents and purposes, create a handicap that evens things out, and in doing so, produces comparable wagering activity on both sides of that proposition. So in lieu of a odds figure in which to bet the team to win outright, the Bears might be a three-point favorite over the New York Giants, and a 17-point favorite over the also-ran. Now that the team that is the underdog can "get" points, there can be equal action on both sides.

In sportsbooks, this is usually done with efficiency by charging the losing bettors 10% extra - in effect, bettors are laying 11/10 on those games. So they are actually betting $110 to win $100. If they lose, they pay the "vig." If they win, they simply collect.

The establishment of the pointspread as the corner stone around which team sports like football can be wagered upon was truly what brought gridiron betting into the stratosphere for online football betting .

Don't believe it? Just take a look at what happens around the Super Bowl.

Stay with us here as we take you through the best in NFL action on a consistent basis, with advice columns as well as handicapping selections. If you're looking for college football betting, that's in our NCAA section, which you can reach by clicking here. And if you're looking for a different kind of football, such as the Canadian Football League, which we'll deal with occasionally, or the Arena Football League, which we really like, you can find it in our Miscellaneous section by clicking

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