Posts Tagged ‘WV Horse Racing’

Missing Out

Tuesday, March 7th, 2017

Is West Virginia missing out on new revenue – by not thinking ahead?

Maryland’s Legislature is taking steps to be prepared. Forward thinking members have introduced legislation to assure the State is ready to take advantage of sports betting.  Introduced February 8th and its first hearing was held March 1 reported the Thoroughbred Horsemen’s Association (THA).

Republican Delegates Jason Buckel and Kevin Hornberger said their bill is a “forward-thinking and practical approach for what we think is not a matter of if but when” sports betting is legalized in the U.S.   They said the idea is to have a framework in place so Maryland “could turn it around quickly rather than wait three or four years.”

That is what ought to have been done in West Virginia. As early as February, 2014 this blog suggested the State and more particularly Lottery begin looking at gaming options.  The options may not be popular but revenue can be produced – what is needed now even more so than in 2014 – revenue.

Last month phillipsbillboard.com urged Governor Justice to begin initial study of sports betting.

According to THA Maryland’s legislation does nothing more than establish a task force to monitor action of federal laws; study implementation of sports betting in other states; and make recommendations on changes needed to facilitate sports betting in Maryland. The bill does offer a starting point for the allocation of revenue.  The task force could make its own recommendations.

THA points out that sports betting can only be offered by “repeal or amendment of the federal Professional and Amateur Sports Protection Act in a manner that does not prohibit the state from allowing wagering on sporting events or a determination by a federal court or the United States Department of Justice that (PASPA) does not prohibit the state from allowing wagering on sporting events.”

Is it going to be the same old story – a day late and a dollar short?

Gov. Justice Here’s One

Wednesday, February 8th, 2017

Governor Justice is looking for “big ideas”. Here is a middle sized idea.

These ideas could help avoid a tax increase on our state’s residents. Plus help an industry with 7,300 jobs and communities and businesses that depend on the horse racing.

The concept is known as Advance Deposit Wagering (ADW). It is a form of wagering on the outcome of horse or dog races in which the bettor must fund his or her account before being allowed to place bets.

Currently Advance Deposit Wagering is not legal in West Virginia – but is should be. The WV Racing Commission endorsed this idea in a resolution I pushed in 2014.

There are 34 thoroughbred race tracks in the country and 20 states have legalized ADW. By making it legal state government, horse & dog owners and tracks receive a share of the ADW revenues.

The Oregon Racing Commission, which licenses and audits many of the largest firms taking advance deposit wagers, reports that online wagering via its licensed companies rose to $2.9 billion in 2015, from $952 million in 2005.

Nearby Ohio is considering legalizing ADW’s along with other states.

ADW’s opens up a whole new world to assist West Virginia. No longer will anyone wanting to bet on a race at West Virginia’s tracks have to visit at Off Track Betting facility.  West Virginians will not have to drive to the horse or dog tracks to bet.

Just own a computer, smartphone or tablet and an easy chair.   Just think of the market that opens up with ADW’s and the potential benefit to our state.

Here are some bit size ideas.

  • Fantasy sports are all the rage
  • Off Track Betting (OTB) facilities at strategic locations
  • Sports Betting is worth initial study
  • Instant Racing electronic pari-mutuel machines (Could be in OTB facilities)
  • EquiLottery a game combining lottery & horse racing

Should Governor Justice want a really big idea what about Internet gambling. Remember the huge money that came into West Virginia after the Lottery was established and casinos were built – before competition from nearby states?  Only three  states now offer it to their residents.  Likely this will involve working with the Department of Justice and Congress.

This will require a heavy lift by Governor Justice – but if anyone can do it he can.

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