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The United States’ horserace betting industry has really only just begun to realize that with no foreign competition in the betting industry and an increasingly savvy gambling population, the opportunities for growth are huge. The fact that Las Vegas has been using on premises betting for some time now is just making its way to New Jersey. New Jersey just approved remote online betting on the premises of land casinos and horserace tracks. The addition of remote betting will have a huge impact on revenues for the land casinos at a time when they could really use some good news; the encroaching foreign online casino gambling industry, coupled with a slowing economy, has taken a big hit on land gambling profits.

The horseracing industry has been facing troubles for a while now – the tracks are reported huge annual losses, staffing levels are down (and thanks to a hiring freeze they will stay that way) and some theorize that horseraces are a dying sport. The fact of the matter is, many gamblers would simply prefer the glitz of Atlantic City and other land casinos for their entertainment…and some even still venture to the online gambling sites despite their ban in US. The addition of remote online betting is expected to give the horserace industry a boost – still not enough to counteract the annual revenue decreases, but enough to stem the bleeding a bit.

The New Jersey authorities have really had a bit of a difficult time with ways to bailout the horseracing industry without also then upsetting the land casino gambling industry in the state. Talks of slot machines at the tracks, in addition to the remote online betting have been immediately vetoed by supporters of the land gambling industry.