For many, global economic instability has created a number of problems, and this has been no different for Off-Track Betting Corp. (OTB). As a result, OTB has been working on a plan that they hope will aid in alleviating their financial woes.

OTB has been talking to numerous New York city bar owners about the idea of installing betting terminals in their establishments, along with a $2,500 start-up cash injection. The response has been positive from many of the one hundred plus bar owners that OTB have pitched the idea to, with many interested in giving the concept a trial run.

With many bars having felt the pinch of the economic recession, bar owners have welcomed the idea of profiting from potential new business that may be generated from bets placed on horse racing in their establishments. OTB has been forced to lay off thousands of workers in recent months, and with their debt steadily mounting and potential bankruptcy on the horizon, the company has been forced to look at alternative avenues as a means to survive.

The marked decrease in betting on horse racing has really hurt OTB, and many racetracks across the US. With time not being on their side, OTB is making every effort to try and survive, and are hoping to see off closure with the implementation of this new idea.

Posted by: Admin
Date: 8 April 2010

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