Racebook Insider: The World of Horse Betting

Tuesday, January 13, 2009

Kentucky Horse Racing Industry Struggles

It's a wager on the horse racing industry. Some lawmakers are betting that slot machines in racetracks will boost Kentucky's signature sport. House Bill 158 would allow video lottery terminals at Kentucky racetracks.

Supporters say the race is on to pass this bill because Indiana and other states are becoming more competitive for horsemen. Indiana allows other gaming revenues, like slot machines and video poker. Also off track betting sites are becoming a big competition.

"A lot of trainers and owners are starting to move their horses out to Pennsylvania, Indiana and West Virginia," said Ron Geary, owner of Ellis Park.

Geary says horsemen are passing up Kentucky venues for states with more racing purses. Fifteen other states have alternative gaming.

"We really need this legislation in order to stay in business and also to keep our signature industry," Geary said.

House Speaker Greg Stumbo filed the bill and says the plan could bring in $700-million into Kentucky. The new bill could be voted upon by mid-February. Unlike last year's gambling proposal, this year's effort in Frankfort wouldn't require amending the Kentucky state constitution.

Local leaders say the bill could save what some call a struggling industry.

"It's apart of the very fabric that makes up the state of Kentucky. The thoroughbred industry is part of this fabric that we call Kentucky and gaming goes along with the industry," said Sandy Watkins, Henderson County Judge Executive.

The bill calls for revenues to be spent on problem-gambling treatment, elementary education and drug-treatment programs.

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