Thursday, 29 Feb 2024

Horse Racing Approved By Texas Officials

The Racing Commission of Texas has approved resumption of horse racing and dog racing in the state, despite legal suits pending against the decision. The decision has run into rough weather, as gamblers would now be using electronic racing machines to perform betting on horses for horse races that have been conducted in the past.

This unique concept, referred to as “historical racing,” is expected to bring back enthusiasm and investment into the business of horse breeding for races that are dwindling across Texas due to stiff casino regulations. The officials voting against this law are worried about long term effect of this betting practice, which is likely to turn into full scale gambling with little benefit to horse racing industry.

Arguments favouring historical racing

The horse racing industry and Racing Commission’s members are the most vociferous supporters of this law, as they feel that it will be a money spinner as witnessed in Kentucky, which reported nearly $30 million worth of wagers within May 2014 from only two racing tracks. The first racing track to set up these digital racing machines will be at Grand Prairie. These virtual horses racing machines will be located at the racing tracks and not within a casino-like environment, so it will bring in people who are enthusiastic about horse racing and breeding. Since it will follow an off-track system for pay-off, there will be better chances at winning.

Arguments against historical racing

Matt Krause has a major grouse against historical racing and had filed a lawsuit to restrain the Texas Racing Commission from installing these virtual racing machines within Texas. He stated that the Commission is trying to legalize gambling in an abuse of power vested in them as officials in charge of gaming within a state.

Casino owners and advocates of gambling have tried to reason with law officials to bring back slot machines without success. They are not keen on giving up this opportunity of allowing real-time gambling, which will also provide funds for financing horse breeding for races.

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