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NY racetrack operators slammed for bet overcharges

August 25, 2014
Associated Press

ALBANY, N.Y. (AP) — New York state's inspector general says horse race bettors were overcharged more than $7 million because of widespread failures by the group that runs three New York thoroughbred tracks.

A report released Monday slams the New York Racing Association for charging one percentage point more for so-called exotic wagers for 15 months beginning in September 2010. The law that allowed racing operators to take the extra money had expired.

State Inspector General Catherine Leahy Scott says NYRA (NYE'-ruh) officials should have known about the law's expiration. But she says the organization lacked internal controls and failed to pay attention.

NYRA's former top executive, Charles Hayward, was fired in 2012 after the problem surfaced publicly. State officials say he was derelict in his duties.

Scott says reforms at NYRA have been implemented.

 
 

 

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