Gambling News by House of Odds

RICHMOND, Va. State legislators are considering a new form of pari-mutuel
betting aimed at horse racing fans to help pay for transportation projects.
Newport News Delegate Phil Hamilton filed the bill for the General
Assembly's special session that starts next week. The legislation would pave
the way for "instant racing," a game in which bettors can wager on races
that have already been run. The game, which Arkansas has adopted, uses an
A-T-M-like machine containing video of past races. Bettors have access to
the same information they would have in any race, such as the records of the
horses, jockeys and trainers but the player doesn't know when or where the
race took place. Hamilton estimates the game could bring in 500 (m) million
dollars annually. His bill would dedicate 49 percent of the profits to the
transportation trust fund. If passed, the measure would take advantage of
Colonial Downs and the nine off-track betting parlors around Virginia.
Another parlor is authorized under state law, but has not been built.
Colonial Downs President Ian Stewart anticipated it would take up to two
years to implement the game statewide.