>>> OTB in Philly suburb runs out of cash to pay Smarty backers, "We had to start giving out checks to the big winners.

[gradysfalcon]

CONCORD -- The impact of Smarty Jones’ Kentucky Derby win was felt all over the Philadelphia area, but may have had its biggest splash at the betting parlors.

Entering the race as a 4-to-1 favorite and with no shortage of local fans yearning to take a chance on a hometown horse, Smarty Jones was a popular bet -- for everyone from seasoned gamblers to casual sports fans.


At facilities like the Turf Club in Concordville, where it is legal to place bets on horse racing, the impact of having a local horse win one of the sport’s most prestigious races was evident in the days following.

Some ticket holders seeking high cash returns for bets placed on Smarty Jones Sunday were turned away at the Turf Club because of early bank deposits, a manager said.

Nearly 2,000 people passed through the Delaware County off-track betting club on Derby Day according to counts made by club Manager Michael DeCillis.

"It was a mandatory work day for everybody," he said."We had every teller in there taking bets."

DeCillis said many of the people present during Saturday’s race were first-time bettors who knew little about the sport and even less about horses. It was the local draw of Smarty Jones that brought many of them to the club, he said.

An influx in bettors on the local favorite and number one pick with 4-to-1 odds left the house just shy for payout, a communications representative of the club said.

Those who cashed in their winning bets Saturday night were able to walk away with cold, hard cash. But, DeCillis said, leaving large amounts of money on the premises proved a major liability -- so, on early Sunday morning, a bank deposit was made.

"We had a line of people waiting to cash in when we opened on Sunday," he said. "We had to start giving out checks to the big winners. It’s not that we didn’t have the money, we just didn’t have the cash."

DeCillis said the Turf Club does not make a point of keeping cash on the premises because of the risk, and also because the club is not in the banking business.

Some, like the superfecta winner who made a $46,000 return for picking the top four horses, were forced to take money in check form, rather than cash.

The tickets, which are good for up to a year, can be cashed in at any time.

DeCillis said Smarty Jones fans were placing bets on the horse without examining the odds or watching previous races, only to support a hometown favorite.

The turnout, according to Turf Club officials, was higher than expected. Director of communications Keith Jones said spectators were going bananas when Smarty Jones was announced as the favorite.

"The place just erupted like never before," he said. "Most people bet on Smarty and most people walked away winners."

Jones, who also announces at Philadelphia Park, said the house generally shaves a portion of the total off the top before dishing out winnings.

This time, he said, because so many people walked away winners, some of the earnings had to come out of the house’s pocket.

"They had so many winning hands that I think they had to pay out from their earnings a little bit. They still turned a profit," he said. "The Preakness could end up being even bigger."

DeCillis said that although the house always wins, employees at the Turf Club like to see patrons walk away winners too. The more money they win, he said, the more bets they are likely to place later.

Dave Roth, a West Chester resident who walked away a winner Saturday, said he and his friends had no problem getting their return at the end of the night.

"We didn’t have an issue, but that may have been because we went right away," he said."My one friend hardly ever bets and he won this time. I think we’ll be back for the Preakness."

[kris]

B4 we know it, there wont be any freaking otb's, it will all be run over the computer. OTBs will be out of business in next 5-7 years.