Can Racing Replay Terminals Raise Revenues?
The recent ruling of District Judge David L. Evans could be a harbinger of change for Texas Racing Commission, which is proposing to set up video terminals with recordings of previous horse races and derbies that will present new winners and losers as the end result. The commission hopes to improve the fortunes of Texas’s dwindling horse racing industry with this new exercise. The horse races shown in the recordings will allow betting on horses by players to be like a live race through a process called pari-mutuel wagering, though the outcome will not be the same as the race being displayed.
Gambling in Texas
The announcement of these games has put Texas’s advocates of horse racing industry and anti-gaming advocates at odds with each other. The former state that it will help raise revenue for improving horse racing tracks to bring them on par with other states. However, bingo operators and anti-gambling lobbyists regard these terminals as slot machines attracting gamblers to place huge bets. Slot machines in Texas are currently at very low stakes ranging from $3 to $5, and concerned citizens worry that video terminals will bring casino type gambling or multimedia gaming into the state again.
Horse-racing in Texas
The residents of Texas had allowed betting on horses as a form of entertainment and to help provide livelihood for people whose main occupation was horse breeding for races. There are several lobbyists who are calling for improvement of Lone Star Park, the only surviving racetrack in Texas, which is struggling for survival with lack of events and attendance of patrons and betting crowds. The younger generation seems to be keener on virtual gaming, which is available on mobiles and workstations. The video replay terminals will work like slot machines and can bring on revenues that will help to improve horse racing industry and provide livelihood to jockeys too.