Safe financial footing.
What, exactly, is “historical horse racing?”
Oh, never mind, found it in the bill “The bill defines historical horse racing as a form of racing that creates pari-mutuel pools from wagers placed on previously conducted horse races.”
But I’m still not sure of the significance. How is this different that how the track and betting operating previously?
McGurk - allowing ‘historical racing’ lets bettors wager faster - as fast as slots, and terminals can be placed at the track, at OTBs, and – conceivably – at truck stops, etc. It adds an entirely new revenue stream to bolster purses that didn’t exist previously.
Many argue that it dilutes the live product, blahblahblah, but welcome to the new normal. People like to bet, and bet fast, which is why slots are crazy popular.
Not that I’m saying historical racing betting is slots … Virginia general assembly is quite clear that they don’t want slots in Virginia. :)))))
New/more money feeds better purse which feeds more race dates which feeds the state bred program which feeds the industry which feeds more race dates which feeds nice prize money in racing that Virginia horses can actually win which feeds the entire animal.
I don’t know any horseman who hopes Colonial Downs opens back up.
Thanks, Hunter’s Rest, for the explanation. Palm Beach, can you elaborate on that comment?
I can’t speak for anyone but myself but there was literally nothing to like about the entire Colonial Downs experience for me. The turf course is nice but everything else from the drive there to the food etc makes it a nightmare.
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No doubt it boggles the mind why New Kent County was originally selected for the track and why it is now seen as the revival point for VA racing.
http://www.richmond.com/news/virgini…aa6763fd3.html
Though historical racing machine legislation is a positive move, the fact is that the future of VA horse racing is as elusive now as it was in 1997. Only the leaders of VA horsemen groups and a few private enterprises see a future for horse racing in the state.
https://www.theracingbiz.com/2018/04/19/commonwealth-derby-oaks-will-not-run-2018/
Here’s one. I am clearly a hopeless optimist.
I enjoyed Colonial. Had horses running there in 2011-2013. Looking forward to racing dates perhaps not in the worst of summer heat. I think it has a chance – Laurel turf needs a break at some point.
All horsemen are!
Colonial was built on donated land in a political glad-hand deal from the early 90s. Pitiful. I watched it happen, covered it from the late 80s. You could have knocked me down with a puff of air when they announced the license they selected.
Totally agree that the horsemen’s groups excoriated Jacobs for 20 day meets but welcome Revolutionary Racing and 20 days meets.
Sigh.
I just hope there’s enough income from whatever OTB earnings to fund a meet plus the little boutique meets - Shenandoah Downs did really well, and having betting at some (hopefully more) jump meets lends an air of hopefulness.
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I didn’t hate shipping in to Colonial. Except for the drive. The location is… not good.
My new solution to all racing woes is to raze every building on the property minus an office and enough barns to run a turf-laden ship-in meeting. Lemme at the bulldozer.
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I swear It is hotter than the sun there too. Not a tree in sight for any shade too.
Here are a couple of interesting articles concerning the collision course set by gambling, lottery, and horse racing. If you think Colonial Downs was hot during the summer meets, the new gambling scheme could make things even hotter.
http://www.dailypress.com/news/opinion/editorials/dp-edt-gambling-0506-story.html
