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Updated: 9:13 PM Mar 11, 2010
Kentucky Bill Seeks to Bolster Horse Industry
A Kentucky Senate panel has approved a bill aimed at generating more money for the horse racing industry, by taxing online bets and allowing a new form of parimutuel gambling.
Posted: 8:01 PM Mar 11, 2010 |
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State Senator Damon Thayer said Thursday, the proposal could funnel large sums into the industry to help the state's horse breeders, owners, trainers, jockeys, and tracks.
The bill cleared the Senate State and Local Government Committee Thursday and now heads to the full Senate.
The measure would allow Instant Racing at the state's race tracks.
The game enables gamblers to bet on previous races without knowing the names of the horses.
A 1.5-percent fee on Instant Racing wagers would be returned to the horse industry in part to boost race purses.
Instant Racing has been a big success at Oaklawn Park in Arkansas.
The bill also would set a 1.5-percent tax on Internet wagering on horse races in Kentucky. That revenue would also go to boost the racing industry.
The legislation is House Bill 368.
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