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Horseracing Suffers Because of Online Casino Sites

The online casino gambling industry is a very pervasive medium – because the internet is now an integral part of the global community and the way societies communicate and interact, businesses that use the internet to operate can seep into nearly every society. This is the case in Canada. Online casinos are not legal in Canada despite the fact that internet gambling and betting is rampant all throughout the country. The issue is that there is no enforcement of the legislation that bans internet gambling, so there is no reason for the online gambling sites to ignore the Canadian market. The pervasiveness of the industry however, has some adverse affects on loosely related industries – such as the horseracing industry.

The Canadian horseracing industry is becoming very vocal now about all of the money that they are loosing to the illegally operating online casinos. The Woodbine racetrack is just one of Canada’s many racetracks that cites figures as high as $200 million in yearly losses to the internet gambling industry. The problem is, online casinos and internet bookies are able to offer punters better odds than the land gambling venues because the internet sites aren’t regulated or paying out any additional money in taxes to the Canadian government and the internet based sites do not contribute any of the wagered money to the cost and upkeep of the track

It is very hard for the racetracks to stay in business when the illegally operating online casinos are taking a core market away from the tracks. Although there are certainly punters still using the racetracks for their wagering, the amount of money coming through the tracks and the number of punters is decreasing – this will have a domino effect of the purse values as well as the long-term viability of the horserace tracks.