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Va. betting parlors closed to Triple Crown wagers

By WTOP Staff

BROCK VERGAKIS
Associated Press

NEW KENT, Va. (AP) — In the state where famed Triple Crown winner Secretariat was born, off-track betting parlors that would ordinarily be packed with gamblers watching California Chrome try to match Secretariat’s feat Saturday will likely be closed or almost empty.

A dispute between horsemen and the state’s only thoroughbred race track over the future of horse racing in Virginia has closed off track betting on thoroughbred racing across the state. The only way to bet on California Chrome in Virginia is online, a process many of the industry’s predominantly older fans don’t feel comfortable embracing.

“I’m bummed out,” said Gary Cunningham, a carpenter who bets a few times a week at an off track parlor in Chesapeake. “I’m not really a computer whiz. I’m more of a simple man.”

The problem at Colonial Downs are mirrored at race tracks around the country, where the costs of running live races often exceed the amount made by the wagering that takes place on them. The racing industry has struggled to recover from the Great Recession, and has been hampered by a declining foal crop and increased competition from other forms of legalized gambling.

Nationally, total U.S. pari-mutuel handle in 2013 — a measure of overall horse betting — was essentially unchanged from the previous year at $10.88 billion, according to The Jockey Club in New York. That’s compared with $15.18 billion in 2003.

Most thoroughbred race track profits come from off track betting parlors that can broadcast races year-round held at other tracks. In many other states, including some of Virginia’s neighbors, race tracks also are able to subsidize the purses they offer winners with onsite casino gambling.

“One of the issues Virginia has, because of where they are, is they’re also surrounded by tracks that have alternative gambling. So those tracks are offering more money and purses. So you have Maryland now, you have West Virginia, you have Pennsylvania, you have Ohio,”” said Liz Bracken, associate coordinator at the University of Arizona Race Track Industry Program.

Colonial Downs — and all the state’s off track betting parlors — can’t accept any wagers on thoroughbred racing until it comes to an agreement with the Virginia Horsemen’s Benevolent and Protective Association about the number of racing days it will hold this year. The contract between the two expired at the end January, closing the off track betting parlors to thoroughbred wagers during the Kentucky Derby and the Preakness Stakes. Only wagers on harness races are allowed, and Colonial Downs has closed four of its eight Virginia off track betting parlors.

“It was a detrimental thing to people that came here to play the horses,” said off track betting regular Gary Cunningham. “It was almost a slap in the face.”

Colonial Downs says it needs to run fewer races so it can provide bigger purses, which it argues will attract better horses, jockeys and trainers to its isolated track off Interstate 64 and gain the interest of gamblers around the world. The horsemen say they need more opportunities to win to recoup their training costs, which can exceed $2,000 a month.

Colonial Downs says it’s already lost $1.5 million in revenue because of the off track betting closures. While the track was once prepared to offer 25 days of racing this summer, Colonial Downs President Ian Stewart says that’s no longer case. The track has said it only wants to run six races this year.

Colonial Downs officials have said they’re prepared to go without any thoroughbred racing this year — and possibly longer — if it means changing the way things are done in Virginia to make the 18 year old track nationally relevant. However, those involved in the industry say the only thing the track cares about is cutting its expenses.

“All this stuff that they’re saying about them looking for excellence is an absolute crock,” said Ferris Allen, a Clarksville, Md.-based horse trainer whose stable is the winningest in the track’s history.

Allen said reducing races still wouldn’t increase the purses enough to make it attractive to the most competitive horses.

“Both sides have legitimate points,” said Alex Waldrop, president of the National Thoroughbred Racing Association, of which Colonial Downs is not a member. “There are no good guys and bad guys in this one.”

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Brock Vergakis can be reached at www.twitter.com/BrockVergakis .

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Don’t Settle for Student Loans to Pay for Online Education

By WTOP Staff
Online college programs are becoming a more popular choice for prospective students, with one study finding that more than 6 million students enrolled in at least one online course in fall 2015. The popularity of these courses can be attributed in part to their flexibility with working adults' schedules, students' ability to progress more quickly through online programs and, oftentimes, cheaper tuition. [See 10 low-cost online bachelor's programs for out-of-state students.]Online degrees can be beneficial to many college students, but some studies have shown online learners complete their programs at lower rates than students at traditional brick-and-mortar campuses. Individuals with student loans but no degree comprise two-thirds of defaulted borrowers. Though these numbers are not encouraging, just like for traditional programs, there are ways to reduce how much you'll need to borrow for an online program to ensure you won't become one of these statistics. Don't just settle on borrowing student loans to cover the whole cost of your program and living expenses. Instead, start thinking about how to cut costs and cover your balance in different ways, such as the following. -- Grants and scholarships: Even though you are taking an online course, you can still apply and receive grants and scholarships. But your first step should be to complete the Free Application for Federal Student Aid, commonly referred to as the FAFSA, which will allow you to receive a Pell Grant if your expected family contribution is low enough. The EFC criteria and award amounts are adjusted annually, but the 2017-2018 academic year awards range from $606 to $5,920, which could significantly lower the amount you borrow annually. Your next step is to apply for scholarships. You can start by checking online scholarship search engines, such as the Salt Scholarship Search, College Board's BigFuture and Peterson's. But don't forget to take advantage of local organizations and your school's financial aid office. Both may offer scholarships that you can't find with a national scholarship search. [Review these 10 sites to kick off your scholarship search.]For instance, organizations like the Elks Club, Knights of Columbus or the Rotary Club typically offer scholarships annually to local students. Just because you're going to school online doesn't mean you're ineligible. Visit your local library for scholarship listings, and ask around town. You might be surprised how many local organizations offer scholarships. While these scholarships typically aren't large, every little bit counts. Each dollar you receive in a scholarship is a dollar you don't have to borrow and pay interest on. -- Work-study: Another option for online students may be work-study awards. Not all students enrolled in online programs are eligible, but students at some schools -- including, for example, SUNY Empire State College and Liberty University -- are. Work-study awards are not given upfront like scholarships and grants. In most cases, they are an offer to earn up to the awarded amount if you secure an eligible work-study job. While there is a misconception that all work-study jobs must be on campus, students can work for off-campus, nonprofit or public employers as long as the work is in the public's interest. You may be able to work for a for-profit employer if the job is relevant to your course of study. No matter who the outside employer is, it will need to have an established agreement with your college for you to receive work-study funds. Remember, to be eligible for federal financial aid, you must be enrolled and pursuing a degree or certificate. If you're not working toward a credential, Pell Grants and work-study won't be option, but you may still be able to take advantage of private scholarships -- just be sure to read the eligibility criteria carefully. [Explore what to know about financial aid in online programs.]-- Pay as you go: One of the great benefits to enrolling online is the flexible schedule, which can allow you to complete your college coursework around your responsibilities. But prospective students often overlook using their part- or full-time job earnings as an option for paying for college. Almost 80 percent of college students in 2015 worked at least part time while attending classes, according to the National Center for Education Statistics. By budgeting and thinking strategically about your college costs, you can likely reduce your dependence on student loans by paying a portion out of pocket. Many -- but not all -- online programs are less expensive than traditional programs and often have shorter payment periods. Six, eight or 10 weeks are common course durations. Because of the frequency of payments in an online setting, you may be well-placed to pay as you go and possibly avoid borrowing altogether. Attending college online and avoiding student loans may be challenging, but if you are willing to put in the effort, you can limit the amount you need to borrow. More from U.S. News Q&A: Understanding Student Loan Discharge Eligibility Student Loan Refinancing Isn't Right for All Borrowers
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