11/24/2023 0 Comments Can i place online bets in wisconsin![]() ![]() This act is what created the era of simulcast race horse betting. This law was called the Interstate Horse Racing Act, and it basically cleared the way for individual states to create partnerships with one another to accept wagers. ![]() The Interstate Horse Racing Act – What is it?ġn 1978, the United States passed groundbreaking legislation that would ultimately pave the way for online horse racing betting. This is what distinguishes horse racing betting from other types of gambling. The online racebooks are tied into the tote board betting pools at the live race track. Online horse betting operates under the same principle. Money taken by the track is also used to pay the purses that are offered for each race. The pool is also the source of the money the track receives. Those who win their bets are paid from this pool. In parimutuel wagering all the money from bettors is placed into a pool. It is allowed to take out money from the wagers made to pay its expenses and make a profit. ![]() In this context, the race track is only the facilitator of horse racing wagers. The term actually means “betting among ourselves” and refers to wagers that are made between individuals. Things soon changed as the US found a way to justify the legality of horse betting. This was true in the early days when betting on horses wasn’t strictly legal. Of course, betting was always a part of the equation. ![]()
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