Catskill Off Track Betting Corporation shuts down after 48 years of financial struggles

At the end of this month, Catskill Regional Off-Track Betting Corporation will stop taking bets after almost 50 years of operation. The closure is the result of nearly ten years of financial difficulties, poor management, and an inability to adjust to the quickly changing gambling environment in New York.

Once a thriving center for horse racing wagers, Catskill Off-Track Betting Corporation was based in the Hudson Valley and ran its website, Interbets. But as online sites took over the betting market and sports betting became legal, the company's popularity and earnings quickly declined, leading to the current situation.

 

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Catskill Regional Off-Track Betting Corporation will cease operations at the end of this month after nearly 50 years. Financial struggles, poor management, and the rise of online gambling and sports betting led to its decline. Once a hub for horse racing wagers in New York’s Hudson Valley, the company couldn't compete in the evolving market. Its website, Interbets, also saw decreased popularity, marking the end of an era for the betting institution.