NYRA caps computer-assisted wagers to steady Saratoga odds

On Feb. 6 the New York Racing Association announced rules across Saratoga, Belmont Park and Aqueduct that stop computer-assisted wagering (CAW) accounts from sending large batches of orders into wagering pools after the timer reaches one minute to post. The operator had already restricted CAW from win-only bets with two minutes or less to post and barred those accounts from late pick-5 and pick-6 pools. Betting is still allowed inside the final minute, but CAW accounts are limited to six wagers per second.

Preliminary figures for Feb. 11 through May 25 at Aqueduct show the CAW share of total handle fell to about 13% from roughly 22% in prior periods. NYRA reported CAW’s influence on exacta prices has been reduced by more than half. Jack Jeziorski, NYRA’s president of content management, said the CAW portion “has been down significantly” during the opening days of the Belmont Racing Festival at Saratoga and added the retail market appears to be responding to steadier wagering.

The new limits took effect during Aqueduct’s winter meet, which recorded a $194.6 million handle, down from $255.6 million the previous year. NYRA officials estimate the CAW restrictions accounted for about five percentage points of that decline. Records also show 35 fewer races this winter and several weather-related cancellations that moved weekend cards to weekdays, which reduced wagering on higher-volume days.

Aqueduct’s spring meet handle was $82.2 million, compared with $101.9 million the prior year. Average daily handle fell to $5.5 million from $6.4 million, a decline of about 14%.

Experts say CAW supplies substantial liquidity while altering odds late in the betting window. Dr. Marshall Gramm, chair of the economics department at Rhodes College, noted high-volume accounts can change posted prices quickly. He cited an example in which last-minute CAW wagers on a Churchill Downs stakes race reduced a winner’s posted odds from 12-1 to 5-1 in a race with about $4.5 million in the win pool. He proposed considering alternative formats such as prediction markets or fixed-odds win betting.

Industry estimates place CAW at roughly 30% of total U.S. racing handle, equal to about $3.3 billion of the $11.04 billion tracks reported in 2025.

Some bettors have posted on social media that late swings in odds and smaller payouts have made it harder for casual gamblers to match past returns. NYRA officials stated they will continue to monitor wagering patterns and review the guidelines, weighing pool stability and overall handle as Saratoga’s summer meet and the Belmont Stakes attract larger audiences.