On January 12, 2007, well-known mobile company, Sona Mobile Holdings, announced that the New York State Racing and Wagering Board has implemented a new law that will allow the company to conduct horse race wagering via the Internet and other electronic media platforms, like cellphones.
The new law, which will come into effect on January 22, 2007, is expected to allow for Sona Mobile Holdings' dealings with the New York Racing Association (NYRA), the owner and manager of the 3 biggest horse race tracks in the United States. The collaborative effort between the 2 companies will target the public launch of NYRA-branded online betting platforms in the first quarter of 2007. The law will also allow the recording of both operational and application statements for the racetracks and off-track betting (OTB) corporations that offer their customers betting options with the use of electronic platforms.
The Chairman of the New York State Racing and Wagering Board, Daniel D. Hogan said that New York State and the Racing and Wagering Board need to make sure that the millions of dollars that are bet by their customers via cellphone and the Internet will be accounted for in a concise and precise manner. On the other hand, the Chairman and CEO of Sona Mobile, Shawn Kreloff, said that the resolution by the New York State Racing and Wagering Board will allow racetracks to pump out more profits and cuts the expense of placing a wager.
They are also hoping that it will create a great demand for the company's technology and technological know-how regarding web-based and wireless betting platforms like cellphones. The law was approved within 90 days. The permanent law is expected to be finalized by the 2 parties upon a complete review that will be conducted by the State Office of Regulatory Reform, which will be submitted for public review. The complete rules will not be adopted by the board until the expiration of the 45-day public review period.
January 16, 2007