Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

7 of 7
BACKNEXT
Place your bets!
Place your bets!
Horse racing is a $2 billion industry in New York state, and the government wants its cut.

Gov. Andrew Cuomo is proposing a 2.75% surcharge on purses at horse races around the state, including the famous Belmont Stakes. A "purse" refers to the money collected and paid out to the winning jockeys in a race.

That charge is expected to raise $7.6 million for the state next year.

The money is meant to close budget gaps at New York's state agency in charge of regulating horse racing and casinos.



NEXT
Last updated March 03 2011: 2:08 PM ET
Overnight Avg Rate Latest Change Last Week
30 yr fixed3.43%3.42%
15 yr fixed2.69%2.69%
5/1 ARM2.93%2.96%
30 yr refi3.46%3.42%
15 yr refi2.73%2.68%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized rates:
More Galleries
This Indian university cranks out top-tier tech execs Many graduates from the Indian Institute of Technology have gone on to start and lead global tech companies. Here are a few of the most notable alums. More
Most valuable American car up for auction Carroll Shelby's own very first Shelby Cobra will be sold in August. It's almost certain to be the most valuable American car ever sold. More
Kilts business wants to end "tyranny of trousers" for men Utilikilts founder Steven Villegas wants utility kilts to replace pants as mainstream menswear. More

Special Offer