The National Thoroughbred Racing Association confirmed Sept. 22 that Bank of America, the second-largest bank in the United States and one of the largest card-issuing banks in the country, has for the first time begun approving debit card deposit transactions with U.S. licensed and regulated advance-deposit wagering companies.
The decision by Bank of America, which began accepting debit card transactions in mid-August, is expected to have a positive impact on overall U.S. pari-mutuel handle.
"This is another positive step for Thoroughbred racing and one that would not have come about without the support of Bank of America and the advocacy on behalf of our industry by Rep. Andy Barr (a Kentucky Republican) and his staff," said NTRA president and CEO Alex Waldrop.
"I commend Bank of America for expanding access to wagering on Thoroughbred horse racing for the roughly 66 million Americans that the bank serves," said Barr, who serves on the U.S. House of Representatives Financial Services Committee. "This is a win for Bank of America customers and the horse racing industry. Bank of America's decision will strengthen the horse racing industry in the Commonwealth and throughout the United States."
