Historic Horse Racing Terminals Now Legal in Virginia
Historic horse racing Terminals have officially been legalized in Virginia. The gambling games have been allowed in order to assist with the reopening of the Colonial Downs racetrack, which is located close to Richmond. While the move hasn’t been met with unanimous support, the bill was signed by the governor earlier this week.
Colonial Downs Sale Dependant on Legal Historic Horse Racing Terminals
The bill will allow the historical horse racing terminals at the Colonial Downs facility, as well as ten other betting sites. It was passed in March, but required the governors signature before moving forward. The legalization of these games was a requirement for the buyers of the racetrack. Revolutionary Racing, based in Chicago, agreed to purchase the racetrack, provided the historical horse racing was permitted.
Revolutionary Racing is a real estate company that specializes in the development and operation of pari-mutuel wagering and horse racing facilities. The last time a horse race was held in Virginia was in 2014. While Colonial Downs has essentially been closed since then, four other off-tracking betting sites have remained open.
Historic Horse Racing Terminals Just Slot Machines?
Historic horse racing terminals allow players to wager on historic horse races. The names of the horses, jockey, venue and the date are all hidden, so players will have no way of figuring out what race it was. Many have likened these games to slot machines, which is where most of the opposition to this bill came from.
In addition to this, the bill doesn’t currently place a limit on how many terminals can be placed at authorized locations. Virginia’s governor was pleased the bill passed but urged caution to ensure that the correct oversight was in place. The state of Virginia will have 180 days to come up with a final draft of the bill and its laws after it comes into effect. This will happen on the 1st of July 2018.