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NYRA overcharged on bets, says report

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Updated: 8/25 5:47 pm

SARATOGA SPRINGS, N.Y. – A report released by the New York State Inspector General states NYRA overcharged race bettors.

The mistake cost bettors millions of dollars and led the former president and CEO of NYRA, Charles Hayward, to be fired along with two executives.

The much anticipated report released by the State Inspector General found systemic problems within NYRA. It led them to charge an additional one percent for exotic bets, which includes Pick 6 and Superfectas.

The legislation allowing the additional charge expired in September 2010. However, NYRA kept charging more for 15 months.

The Inspector General's office said it added up to more than $7 million, and to date, only a small portion of it has been paid back. Those placing bets on Monday afternoon at the Saratoga Race Course had mixed reactions to the report.

"Yeah, that's not good. We're supporting them. So that's not a good thing to hear,” said Donald Mackey of Hopewell Junction.

Fallout from the original audit led Governor Cuomo to seize control of NYRA back in 2012.

In a statement released on Monday, the new board said:

"The New York Racing Association is a far different organization than it was two years ago. The new management team has already instituted sweeping changes that coincide with the Inspector General's recommendations."

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