Historical Racing Bill Introduced in Illinois
Nov 17, 2014 18:47:17 GMT -5
Post by Evelyn on Nov 17, 2014 18:47:17 GMT -5
Well - this sounds like a real crap shoot!
Historical Racing Bill Introduced in Illinois
Associated Press
A Republican lawmaker from southwest Illinois has proposed a plan allowing betting on old races as a way to boost the state's horse racing industry.
State Rep. Dwight Kay, of Glen Carbon, introduced legislation the week of Nov. 9 allowing so-called "historical racing" machines, according to a story published Nov. 16 by the Springfield bureau of Lee Enterprises newspapers. The terminals, which resemble video lottery machines, allow betting on previously run races that are stripped of identifying markers.
Kay said the generated revenue could help tracks, like Fairmount Park in Collinsville, as legislators take another look at a statewide gambling expansion. "They are trying to stay alive," Kay said.
Modeled after Oaklawn Park's Instant Racing gaming, historical race wagering involves wagers placed through machines that base payouts on a pari-mutuel formula. The outcome of the game is determined by the finish of a previously run horse race displayed in a small window on the machine. The player does not know the identity of the race nor the outcome before making the wager.
Historical racing has proven popular at Kentucky Downs and Ellis Park in Kentucky, where the racing commission has deemed it pari-mutuel because it involves a common pooling of wagers to determine payouts. The Kentucky Horse Racing Commission has implemented regulations dealing with historical racing, but a judge recently ruled the Texas Racing Commission exceeded its authority by clearing the way for historical racing at dog and horse tracks.
Proponents of the idea have said the additional money can help struggling racetracks. But opponents who worry about social costs of expanded gambling have labeled the machines as "horse slots."
In Illinois, previous efforts to expand gambling statewide have failed. Gov. Pat Quinn, a Chicago Democrat, has vetoed plans adding more casinos and slots over concerns about ethical safeguards.
Republican Gov.-elect Bruce Rauner, who takes office in January, said he doesn't like the idea of slot machines at Chicago's major airports but wouldn't oppose adding casinos if local communities support them.
Last year a bill calling for five new casinos fizzled after the Illinois Gaming Board questioned if Chicago would have the authority to oversee its own casino. The bill's backer has since tried to settle the issue and others by presenting the option of separating out the Chicago casino from four proposed locations in Chicago's south suburbs, and the counties of Lake, Winnebago, and Vermilion.
Historical Racing Bill Introduced in Illinois
Associated Press
A Republican lawmaker from southwest Illinois has proposed a plan allowing betting on old races as a way to boost the state's horse racing industry.
State Rep. Dwight Kay, of Glen Carbon, introduced legislation the week of Nov. 9 allowing so-called "historical racing" machines, according to a story published Nov. 16 by the Springfield bureau of Lee Enterprises newspapers. The terminals, which resemble video lottery machines, allow betting on previously run races that are stripped of identifying markers.
Kay said the generated revenue could help tracks, like Fairmount Park in Collinsville, as legislators take another look at a statewide gambling expansion. "They are trying to stay alive," Kay said.
Modeled after Oaklawn Park's Instant Racing gaming, historical race wagering involves wagers placed through machines that base payouts on a pari-mutuel formula. The outcome of the game is determined by the finish of a previously run horse race displayed in a small window on the machine. The player does not know the identity of the race nor the outcome before making the wager.
Historical racing has proven popular at Kentucky Downs and Ellis Park in Kentucky, where the racing commission has deemed it pari-mutuel because it involves a common pooling of wagers to determine payouts. The Kentucky Horse Racing Commission has implemented regulations dealing with historical racing, but a judge recently ruled the Texas Racing Commission exceeded its authority by clearing the way for historical racing at dog and horse tracks.
Proponents of the idea have said the additional money can help struggling racetracks. But opponents who worry about social costs of expanded gambling have labeled the machines as "horse slots."
In Illinois, previous efforts to expand gambling statewide have failed. Gov. Pat Quinn, a Chicago Democrat, has vetoed plans adding more casinos and slots over concerns about ethical safeguards.
Republican Gov.-elect Bruce Rauner, who takes office in January, said he doesn't like the idea of slot machines at Chicago's major airports but wouldn't oppose adding casinos if local communities support them.
Last year a bill calling for five new casinos fizzled after the Illinois Gaming Board questioned if Chicago would have the authority to oversee its own casino. The bill's backer has since tried to settle the issue and others by presenting the option of separating out the Chicago casino from four proposed locations in Chicago's south suburbs, and the counties of Lake, Winnebago, and Vermilion.