OTB

Off Track Betting, Channel #71

Watching the ponies go round and round then poof your money is gone. Horse racing and racing information 24/7.

This is the New York State owned and operated legal off track betting business. Once OTB parlors were all over the city but the current mayor pushed to get the city/state out of the gambling business. In 2008, my favorite, Mayor Mike Bloomberg handed over the NYC owned OTB to the state and warned of a financial collapse.

Guess what OTB is now $46 million in debt and may file for bankruptcy soon. The only reason OTB still exists is that $200 million in union pay is still needed keep workers satiated.

I have no issue with horse racing or gambling but once it went legit horse racing could never make a profit.