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Originally Posted by 10 pnt move up
this maybe a silly question but if they can raise purses how are they bankrupt?
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Because the money used for purses is not NYRA's money. It belongs to the horsemen as part of the negotiated contract concerning the takeout from handle and other sources of revenue. Occasionally the tracks will "overpay" purses where they use more than the alloted amount and have to reach into their pockets to front the horsemans account money.