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 fixed3.46%3.56%
15 yr fixed2.76%2.76%
5/1 ARM2.88%2.94%
30 yr refi3.50%3.55%
15 yr refi2.80%2.80%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized rates:
More Galleries
Utilikilts makes kilts with pockets and belt loops in Seattle shop Founder Steven Villegas has been running the business for 16 years hoping utility kilts will one day be mainstream menswear. More
World's Top Employers for New Grads For an exclusive CNNMoney list, research firm Universum Global surveyed business students at colleges around the world to see where they most want to work. More
Brexit voices: In or out? CNNMoney speaks to British people to find out their views ahead of the referendum on EU membership. More

Special Offer