NYRA offers $1 million to Japan-based Belmont Stakes winner

[freddymo]

Originally Posted by Alabama Stakes

If NYRA got a million dollars to throw around on a bonus like this, why didn't they get up a little money and keep the NYRA channel going in the city ?

More likely then not they will buy an insurance policy and just be liable for the premium? At least I think that will be the strategy? I dont think they are expecting to pay out more then the insurance premium.