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%3.40%
15 yr fixed2.70%2.67%
5/1 ARM2.83%2.84%
30 yr refi3.45%3.43%
15 yr refi2.71%2.71%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized rates:
More Galleries
Five most expensive cars sold at Pebble Beach These classic cars went for seven figure sums at the world's premier classic car event. More
Seats that move! Rain! Movie-watching goes beyond 3D How can movie theaters compete when many prefer to watch streaming video from their own comfy couches? Some hope a new interactive technology will lure audiences with immersive effects. More
15 cool cars for sale at Pebble Beach While these events are best known for seven-figure classics, just about everything crosses the block at Pebble Beach. More

Special Offer