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NYRA Complying With Refunds on Overcharges |

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NYRA Complying With Refunds on Overcharges |

The New York Racing Association said it is meeting a state request to refund money by March 30 to as many bettors it could identify that were overcharged when NYRA failed to follow a state law to lower its pari-mutuel takeout rate on exotic wagers…

In all, about $8 million was overcharged. The vast majority of the takeout overcharges, which were on wagers on NYRA races by non-rewards account members at other racetracks or through advance deposit wagering operators, will never get refunded. To try to make amends, NYRA reduced the takeout rate on exotic wagers to 24% from the legally permitted 25%.

Posted via email from Michael Pizzolla On ValueCapping™, Horse Racing, And Technology

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