BT,
I've cabbed back to Albany before but it is about $45 each way and that is only if you call ahead and get a rate. If you try and just get in a cab and tell them to take you to Albany without calling they will probably want at least $70. If you are going to be drinking a lot and don't have anyone that you can bring to drive you then Albany probably isn't a good hotel option. The money you spend to cab back and forth will cost you as much as you are saving on the room. Or you could really slum it and just rent a big car and sleep in the back! The free parking lot near the track is probably nice and quiet at night. I've left my car overnight there before (never slept in it though
).