Kentucky Racing Commission Looks To The Past For Help

In looking for a way to help boost the struggling horse racing industry, the Kentucky Racing Commission unanimously approved the betting on old races.

New regulations now allow bettors the chance to lay their money down on rebroadcasts of what the commission calls “historical races” stripped of the names of the horses, jockeys and trainers. The concept is called “Instant Racing.”

In this type of electronic gaming, players bet against one another in lieu of playing against the house.

Kentucky race tracks have been, for a long time, looking for a way to expand the gambling options.

This could be an extremely profitable way to do just that without getting into the legality of casino-style games such as video slots, which are outlawed in Kentucky.

The “Instant Racing” will only be subject to the existing pari-mutuel tax rates of 1.5 percent to 3.5 percent, depending on day’s track handle.

Currently, there is no scheduled start date as to when Kentucky tracks could begin to offer the game and the commission anticipating opposition from anti-gambling groups that feel this is just another form of casino gambling.