Giuliani rides in to aid Horseracing

11/20/2002 (CBS.MarketWatch.com) NEW YORK (CBS.MW) — Stung by a betting scandal on its showcase day, the horseracing industry is tightening off-site wagering rules and bringing in a former prosecutorial thoroughbred to review the state of electronic systems across the country.

The National Thoroughbred Racing Association, which represents a broad spectrum of industry interests, said Wednesday it has hired the firm headed by former New York Mayor Rudolph Giuliani to manage and oversee the wagering review.

In addition, the NTRA and a newly formed Wagering Integrity Alliance will conduct a “systematic examination” of certain wagers over the past year in order to identify other illegal bets and shape recommendation on further security measures.

“Clearly, Rudolph Giuliani brings independence and credibility both to our review of past wagers and our commitment to future improvements,” said NTRA Commissioner Tim Smith.

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