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Meaning for Horseracing

Last week’s ruling by the Kentucky Appellate court concerning the seizure of internet gambling domain names was very positive for the online casinos, but less of a help to the slowly failing Kentucky horserace industry. Kentucky’s economy heavily relies on the success of the state’s horserace industry – since land and online casino gambling venues are illegal, gamblers have long headed to the track as a way to satisfy their urge to gamble. The slowing US economy over the past year though has hit land gambling and betting interests hard and now, the competition from foreign internet casinos may very well put a fatal strain on the horseracing industry.

Online casino gambling is a popular pastime all over the world and in spite of the UIGEA, internet gambling interests in the US still run deep. For horserace betting on the other hand, gamblers and punters have not only begun to trickle away from the land betting venues to place bets through the internet, but widespread interest seems to simply be dying out throughout the US market – Kentucky is certainly not the only state reporting declining revenues from this sector of the gambling industry.

As for the current state of online casino gambling in Kentucky, the Appellate Court’s ruling means that the Kentucky horseracing industry will have to continue to endure the competition from internet gambling companies continuing to illegally operate in the US market – this setback though has the potential to repair itself at the federal level if the incoming administration issues some new legislation regarding the internet gambling industry.