Horse Racing is dead and being subsidized Why?

The State Of Maryland Ponies Up Millions To Save The Preakness

The proposed agreement ends a long standoff between horse and track owners. The Jockey Club, which owns major racetracks, wanted to ensure they'd at least break even after years of taking losses. The slot machine subsidization will help.

But justifying the thoroughbred racing industry is becoming increasingly difficult. For years the popularity of betting on the races was provided a nice chunk of change for the state. But years of dwindling interest have reduced gambling proceeds to losses for many states.

New York, for one, did away with OTB sites as a result. Now, the industry is on life support, mostly for the jobs it provides.




New Jersey Is Losing Millions Propping Up The Dead Thoroughbred Racing Business

Despite being subsidized by $180M from state casinos and millions more in taxpayer dollars over the last six years, the Newark Star-Ledger reports that Jersey racetracks lost $17.7M in 2010.

Governor Chris Christie wants the sport to become self-sustaining. But democratic legislators are trying to find new ways to prop up the racetracks.

Among other measures, they'd like to build more off-track betting sites, and even internet gambling systems to generate nearly $100M to support the failing racetracks.

In the editorial the Star-Ledger wonders why that money should bail out a recreational industry, when so much of New Jersey's public services – including teachers, police forces, and health care – are being downsized. The editorial board calls for Jersey citizens to support Christie's measures and let thoroughbred racing fend for itself.