The Illinois Formula for Horse Racing
The very State which drew dollops of dollars away from horse racing to other forms of gambling in the early 1990s, has decided that it is time for pay-back. Governor Blagojevich has recently given effect to a law which will divert a share of all casino receipts for the next two years to increase winnings for horse racing events, and to improve race tracks as well.
This revolutionary legislation comes not a day too soon, and will inject new hope in to the lives all stakeholders of the horse racing industry in the State. Illinois has tremendous potential for all equestrian sports, and people from countries all over the world can join in the excitement through simulcast wagering as well.
House Bill 1918, (The Horse Racing Equity Trust Fund), is accompanied by House Bill 4377, which reduces the tax on bets placed at State race tracks to just 0.25%. The two bills are especially important for the beautiful Fairmont Race Track, which should now be able to increase its number of event days per year.
Illinois has shown a path to all States and communities which would like to conserve the best horse racing traditions in areas under their jurisdiction. Horse racing has a number of advantages over other forms of sports betting, and makes valuable contributions to society and to nature wherever it thrives. Since House Bills 1918 and 4377 take immediate effect, we can look forward to quick results at Fairmont starting with the current season.
