Horse Racing Betting Sites Online
Horse racing betting is very popular all over the world. There are OTB (Off Track Betting) Parlors in every town in the United States. In this article, we will show you how to bet on horses, the odds tips, and the history.
Top Horse Racing Betting Sites
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Those that enjoy off-track betting or OTB in the US will better embrace the game only if they know its history. In fact, the game was introduced the US market about 40 years ago with the State of Nevada is the first one to offer gamblers such a way of spending their money with the aim of receiving an extra amount back. To be precise, Nevada allowed off-track betting sometime before 1970 and after that bet on horses was a regular thing in virtually every place in the entire state.
The History Of Off-Track Betting In USA
You will not be surprised therefore to see why Las Vegas has referred the mother of gambling or all forms of entertainment. It was after a successful launch of off-track horse racing betting on land-based facilities that usually had an ample space that later moved investors. They introduced online racebooks and horse racing betting sites to give a majority of the growing number of interested gamblers to get access to this high stakes betting game that remains one of the most popular gambling avenues in the whole of America.
According to history books, the State of New York was the second one in the whole of USA to legalize off-track betting, but this was sometime after 1970. The first venue to host an off-track betting exercise was Schenectady in New York. Before the successful launching of OTB in the state, New York had made several attempts in the past, but they all failed. Perhaps, if the efforts bore fruit, New York would be the first one to offer bet horses online.
But immediately after launching their first OTB center, several other venues were quickly opened with the number rising to hit 100 off-track betting venues across New York City alone. In the 1980s, the number of such venues doubled in New York City with the belief that opening more of such parlors would increase the number of gambling revenues to the state coffers.
The idea was proved wrong shortly afterward when the amount of revenue collected from that parlor plummeted. Besides, it was thought that by increasing the number of legal off-track betting parlors across New York City and later to other parts of the state, would lower even curb illegal real money gambling activities. The authorities were again wrong.
That turn of events prompted the formation of Interstate Horseracing Act in 1978, which saw the state reach a compromise how revenue from all legal of track betting parlors across the state. The parlors were collected, distributed and shared amongst stakeholders. In this case, the bonafide members called stakeholders are the OTB parlors themselves, the state as well as the operators of those salons.
The law set out guidelines on how the revenue would be collected and distributed. Besides, the Interstate Horseracing Act stipulated that at no point will the state allow a new horseracing track venue to be opened some 60 miles from the other. In other words, if there was an idea to erect an off-track and Horse racing betting parlor, then it has to be far away, more than 60 miles from the next horse racing betting parlor.