Friday, August 23, 2013

New York Horseplayers Take a Big Hit

It was announced today that New York implemented a 5% surcharge (a signal fee hike) on New York horseplayers who bet with out of state ADW's, like Twinspires, Premier Turf Club and others. 
  •  The law calls the 5 percent fee a “market-origin fee,” and it will be applied to any wager made by a New York customer, regardless of whether the customer is betting on a race at a New York track or an out-of-state track.
If you are a discerning New York state horseplayer who plays at a shop that gives you back cash rewards, these rewards will likely be eaten up by the tax, and you will be the one paying it. It will cut into your winnings and enjoyment of the game.

Plain and simple: This is a huge takeout hike. New York racing punched you in the wallet. 

1 comment:

Anonymous said...

well I will complain to my legislators, but to tell the truth I think they only listen when the money flow comes to a trickle.