What is Betting?
Betting is gambling. It is all about placing money on a horse(s) and if they win, you earn more money. Betting is encouraged by racetracks, and is said to make horse racing more exciting for people. There are normally gambling stations at racetracks that allow betting. Sometimes, racetracks even have casinos with games other than betting, and these seem to attract a lot more gamblers than racetracks with only the option to bet. These combinations of racetracks and casinos are called "racinos". According to an 2010 article in the Star Ledger in New Jersey:
"This year, the Meadowlands Racetrack and Monmouth Park will lose upwards of $20 million as fans and bettors have migrated to tracks in New York and Pennsylvania with slot machines and other casino games. Pressure from Atlantic City casinos have prevented the "racino" model from taking hold here, and the tracks have suffered. Daily attendance at the Meadowlands routinely hit 16,500 in its first year. Last year, the average daily crowd was below 3,000."
At certain racetracks (e.g. Springdale Race Course), betting is illegal, but at most it is allowed, as it is the biggest source of money for horse racing. Betting used to be done by paper slips, but due to the big movement in technology, it is now also possible to bet online, which increased the amount of bettors. For example, recently at the Cheltenham Festival, mobile betting almost doubled the amount of people who betted.
"This year, the Meadowlands Racetrack and Monmouth Park will lose upwards of $20 million as fans and bettors have migrated to tracks in New York and Pennsylvania with slot machines and other casino games. Pressure from Atlantic City casinos have prevented the "racino" model from taking hold here, and the tracks have suffered. Daily attendance at the Meadowlands routinely hit 16,500 in its first year. Last year, the average daily crowd was below 3,000."
At certain racetracks (e.g. Springdale Race Course), betting is illegal, but at most it is allowed, as it is the biggest source of money for horse racing. Betting used to be done by paper slips, but due to the big movement in technology, it is now also possible to bet online, which increased the amount of bettors. For example, recently at the Cheltenham Festival, mobile betting almost doubled the amount of people who betted.