Tuesday, October 13, 2009

Illinois Racing Board Approves Online Wagering


The Illinois Racing Board on Oct. 13 issued the state's first three licenses to companies that handle online wagering on horse races. Officials say the move could bring in more than $1.7 million in new taxes for the state.

The board's unanimous vote authorizes electronic betting from computers, phones, interactive televisions and other mobile devices. At least one company, Los Angeles-based TVG Network, said it would be operating in Illinois later in the day on Oct. 13.

The state Racing Board projects such betting could become a $100 million to $150 million industry in Illinois in 2010.

Frank Kirby, president of the Illinois Thoroughbred Horsemen's Association, licenses are good for race tracks and horsemen.