A report by the New York State Inspector General has concluded that overcharging of ‘takeout’ fees by the New York Racing Association (NYRA) between September 2010 and December 2011 was a result of “inattention to the law” by NYRA officials and “weak financial controls and oversight” by management and the New York State Racing and Wagering Board.

Inspector General Catherine Leahy Scott released the findings of her investigation Monday, stating that the ‘takeout’ fees incident had undermined the public’s trust in the state’s horseracing operator by taking “earnings away from bettors that were rightfully theirs”.

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