Sport: $10,000,000 Revenue

In New York, where there are five race tracks, betting on horse races has been illegal since 1908, but bookmakers for the past five years have been permitted to operate at the tracks through a loophole in the law. Although most New York racing fans consider pari-mutuels* (which have been legalized in 18 States) a fairer system of betting, a small but powerful lobby in Albany has for five years influenced legislators against replacing book betting with pari-mutuel machines.

A year ago New York's law makers, enviously noting that California collects some $2,000,000 a year from the 4% tax on the...

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