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Originally Posted by Storm Cadet
But in this case, NYRA only got 10,000 in entry fees and pays out 250,000. The Suburban got only $24,000 in entry fees but shells out $400,000 guaranteed. WHERES does this extra $$$$ come from? Does NYRA take the hit?
I'm sure they would have liked to have at least 10 starters in each to reduce their purse layout or do they have this build in in some purse reserve account?
Thanks for your input!  |
The money that pays for the purses is not their money, it is the horsemans money derived as a cut from the handle. The tracks just hold the money. One of the big issues that the investigations uncovered was NYRA using the horsemans account to pay operating expenses. They always replaced the funds but it really was a scary situation for the horsemen, most of whom had no idea that this was happening. In fact the head of the horsemans group claimed he didnt know either but I am skeptical of that claim.