Struggling Horse Racetrack Reps Discuss Dire Need for New Revenue Sources

Area horse racing stakeholders are looking to a series of legislative bills to rejuvenate a Michigan market that has long been shrinking.

Only two of the state’s nine tracks remain operational today — Northville Downs and Hazel Park Raceway, according to an investigative Detroit Free Press report published Thursday.

“In 1999, horse racing generated $13.2 million in revenues for the state on wagers of $416 million,” the article said. “By 2015, according to the state’s annual horse-racing report, those revenues had shrunk to $3.5 million on wagers of $106 million.”

State legislators are currently considering passing a handful of plans that could revive the equine industry.

Among those referenced in the Detroit Free News story are:

• Revising the current, convoluted formula used to divide winnings from large pools to horse and track owners
• Enacting a crackdown on out-of-state betting rings, “making it a crime for anyone without a license for live horse racing in Michigan to accept wagers over the Internet from Michigan residents”
• Permitting Michigan tracks to accept online wagers during live and simulcast races from enthusiasts who could bet using their smartphones or computers

The Senate gave the green light to the horse-racing bills earlier this month, the story says. The House is expected to vote on the package over the next couple weeks before taking a break for summer.

Image credit: Tsutomu Takasu via Flickr / Creative Commons