As it is well-known among the gamblers of the United States, every state has different pieces of legislation when it is about gambling. New Hampshire is one with modest gambling industry. That meaning they still have some fields to expand the business. Now, they just took a great step in that direction with the new bill concerning pari-mutuel wagering on historical horse racing in New Hampshire.
In the last couple of months, we have seen a great shift towards electronic solutions when it comes to wagering. Mostly, we mean online options, since they closed land-based casinos over a year ago. During this time, online gambling sites in the US became more popular than ever. But we can also see historical horse racing making a comeback – or simply a forge ahead. Lately, more and more states have been dealing with this type of gambling, and its pari-mutuel form. At the moment, it is New Hampshire that has a thing with historical horse racing. Keep on reading to find out more about the case!
Historical horse racing and pari-mutuel wagering
If you are a gambler, who only plays their favorite, like some sports betting on Intertops, you might not be familiar with historical horse racing. According to Wikipedia, Instant Racing – also known as historical race wagering – is an electronic gambling system. It allows players to bet on replays of horse races or dog races from the past. Some Instant Racing terminals resemble slot machines. So, it is something very different than what people usually bet on. But it is still exciting! That is why New Hampshire now has some changes in its historical horse racing system.
Another thing is pari-mutuel wagering: it is something that you might not know a lot about. It seems like a strange phrase – that might be because it is French. But there is nothing too complicated about it. As Wikipedia says, it is a betting system in which all bets of a particular type are placed together in a pool. Taxes and the “house-take” are deducted, and payoff odds are calculated by sharing the pool among all winning bets. In some countries, they refer to it as Tote after the totalisator, which calculates and displays bets. They also add: they use this system in gambling on horse racing, greyhound racing, jai alai, and all sporting events of relatively short duration in which participants finish in a ranked order. A modified parimutuel system is also used in some lottery games.
Historical Horse Racing in New Hampshire
So, it is time for the great news for all the gamblers in the Granite State. Lately, the Governor of the state, Chris Sununu signed House Bill 626 into law – as online gambling news sites in the US reported. That is a bill authorizing pari-mutuel wagering on historical horse racing in the territory of NH! After this, the charitable gambling facilities – licensed previously in 2020 – will be able to allow this type of wagering. It is beneficial for wagers since they can start a whole new kind of gaming if they want to. But it is also good for the state itself! They will allocate the tax revenue – that this progress generates – into a good cause. The money will go to the New Hampshire education trust fund and some local charities.
Opinions on the progress
As mentioned above, there are several beneficial parties to this cause. But there is one more: Patrick Neely of an HHR firm also commented on the development. “Passage of this legislation was truly a group effort, and we were pleased to play a role in a broad coalition of New Hampshire charitable organizations and charitable gaming operators.” He also added: “We have no doubt that HHR will prove to be as successful in New Hampshire as it is in other jurisdictions, and that it will generate significant new tax revenue and financial support for countless New Hampshire charities.” And for those, who do not live in NH, or any other state that allows this type of gaming: do not worry! You still have several gaming options, like placing some bets on Intertops!