AB 2409 (Yee) – California Horseracing in the 21st Century

Instant Horseracing is pari-mutuel wagering on historic horse races, exactly like wagering is done on live racing today. Using facilities already at California tracks, this new kind of wager can be placed on tens of thousands of historic races. Players are provided the same handicap information they use with live races and they choose from the same wagers and combinations. Instant Horseracing simply takes wagering into the 21st century, using technology to facilitate wagering on historic races.

Current California law allows for pari-mutuel wagering on horse races conducted in this state, as well as those races broadcast into the state over the simulcast wagering system.

AB 2409 does the following:

• Authorizes Instant Horseracing in California
  
• Limits its operation to seven locations – all currently operating horse racing tracks
  
• Caps the number of Instant Horseracing sites
  
• Requires the CA Horseracing Board to regulate all aspects of Instant Horseracing.

Revenue from Instant Horseracing will be divided among all sectors of the horseracing industry and the communities around the tracks. Exactly how much revenue will be generated is still unknown, but the primary goal of the program is new income to support California’s historic horseracing industry, which provides thousands of jobs across the state. Under AB 2409, revenue from Instant Horseracing will be used as follows:

• 30% will be used to increase live racing purses with the specific goals of keeping race horses in California and attracting larger fields for live races
  
• Funding for the Jockey’s Guild Health and Welfare Fund
  
• Funding for cities in which tracks are located to mitigate any impacts in those jurisdictions
  
• Backstretch employees, Breeders, Problem Gaming Programs and fairs will also receive funding from this Horseracing revenue

AB 2409 is needed to help California’s historic horseracing industry compete with horseracing in other states. Using revenue from other gaming at their tracks, the prize purses offered in other states have long surpassed purses available in California. As a result quality horses have been leaving California, limiting the fields available for racing, and threatening the state’s horseracing industry as a whole.

AB 2409 (YEE) is supported by a consensus of the horseracing industry, including horse owners, labor, racetracks, racehorse breeders, trainers, jockeys and others.