A Kentucky Senate committee on Thursday approved a proposal by a vote of 11-1 that would allow “Instant Racing” machines at racetracks in the state. The bill is expected to head to the Senate next week with bipartisan support, which was confirmed by Senate president David Williams, who has been an adamant opponent to any expanded gaming at the racetracks.
“I think it has considerable support. Bipartisan support,” Williams was quoted as saying in Friday’s Lexington Herald-Leader about the bill proposed by Republican Sen. Damon Thayer.
Bettors playing the Instant Racing machines--which are considered pari-mutuel--are wagering on previously-run races. The machines also come with the sounds of slot machines. Proponents of the bill state because of the pari-mutuel nature, the machines are able to be legalized by changing the state’s pari-mutuel law.
The state will receive no money from the Instant Racing machines. The bill includes a provision that at least 81.5 percent of wagers is returned to the bettors. From the remaining money, 1.5 percent would go into the Kentucky Standardbred Development Fund or Kentucky Thoroughbred Development Fund for purses. The rest of the money would be divided by the racetracks and horsemen.
The Instant Racing machines were first installed at Oaklawn Park in Arkansas. Last year, the one-percent tax on the machines reportedly generated more than $1.9 million to purses. “Although this measure does very little to plug the gaping revenue shortfall in our state budget, it is an acknowledgement from the Senate majority that the crisis facing our signature horse racing industry is indeed real,” Kentucky Gov. Steve Beshear said in a statement. “Instant Rracing would be a small step on behalf of our struggling racing industry, but every little bit helps.” “Instant Racing is different,” Thayer told the Herald-Leader. “It’s an attempt to attract people to horse racing who like that product.”
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