New Horse Race Wagering And Regulations Pass House
December 13, 2019
A local lawmaker’s plan to allow updated technologies for wagering on horse races to help the state’s horse racing and agricultural industries will soon be before the governor for signing.
State Representative Hank Vaupel of Fowlerville’s plan to allow advance deposit wagering received large, bi-partisan approval in the House, this week. Vaupel says it will allow people to place pari-mutuel wagers online - something that is already happening, but by out-of-state businesses. As such, Michigan is receiving no revenue from these wagers. There is also currently no regulatory framework for it. Vaupel’s plan would change all of this. The plan will give horse racing enthusiasts the opportunity to utilize new technology to place these wagers, as though they were at the tracks where racing is held.
Vaupel says that with technology controlling the flow of how wagering is conducted, Michigan needs this regulatory structure in place to be more attuned with the evolving horse racing industry. This plan will allow for revenue made on the wagering to stay in-state. Michigan’s horse racing industry contributes roughly $1-billion to the state economy each year, while supporting more than 12,000 jobs.
The plan, House Bill 4310, will soon head to Governor Gretchen Whitmer for signing. (MK)