OTB Makes Last Ditch Effort To Keep Gambling Alive

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The economy has done a number financially to both Off-Track Betting Corp. and New York bars. OTB has been pushing a plan that they hope will be beneficial in keeping their business alive, while bringing new customers into the city's taverns.

OTB has been pitching an idea of giving bar owners thousands of dollars to install betting terminals in what the company is calling "kiosks." The company is willing to give bar owners $2,500 for start-up costs.

Many of the over 100 bars that OTB has approached are willing to try out the kiosks. The bars have been losing customers since the economic recession hit the US, and any new business that could be brought in from the horse race betting would be welcomed.

"The kiosks are a key piece in our plan to overhaul New York City OTB's antiquated business model and move it from the 1970,s brick-and-mortar version to a modern technology-based model in line with consumer preferences," said OTB Spokesman David Vermillion, as reported by the New York Daily News.

OTB has laid off thousands of workers recently and is short on time. Their debt is mounting and the company has already been in bankruptcy. The company claims they would shut down for good on April 11th.

With not much time left until that date, OTB is trying to find any reason to believe they can stay in business. The decrease in interest in horse racing has not only hurt OTB, but also many of the racetracks across the US.

April 1, 2010
Posted By Tom Jones
Staff Editor, CasinoGamblingWeb.com
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