Retirement fund for racehorses?
Tue, 03 Jan 2012 15:32:30 GMT —
If you place a bet on a horse race, should a portion of your winning
go to the horses?
The New York State Task Force on Retired Racehorses is recommending that a portion of video lottery revenues and race winning be dedicated for the benefit of the horses once they no longer compete.
The task force has recommended the creation of what would amount to a retirement fund that would amount to at least one half of one percent of the gambling revenue, or about $4.5 million annually.
The task force points out that many of the 1,600 racehorses who retire each year could have second careers. The report says horses can be trained to work with mounted police, therapy for people with physical or mental disabilities, or pleasure and trail riding as well as other pursuits.
The report to the State Racing and Wagering Board also recommends that the owners of race horses set aside more than $2,000 for each horse that retires from the track. The money would help offset the costs of retraining.