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Assembly Bill 2414 is a gambling bill that, as originally introduced, would have increased takeouts--the money race tracks make on given bets. The bill's original language would have permitted any California race track hosting the Breeders' Cup to spend the extra takeout money on promotion of the annual event. Supporters hope that portions of the bill would convince the Breeders' Cup to permanently settle in California. Late amendments inserted last week are stirring up controversy. These changes would make a form of gambling known as "exchange betting" legal in California, essentially allowing horse players to bet against one another by setting their own odds and potentially betting on horses to lose a race. MI Developments opposes the exchange betting portion of the bill.

https://arcadiahistory.andornot.com/en/permalink/newspaper32157
Newspaper
Pasadena Star News
Date
August 29, 2010
Pages
p. A1, A4
Newspaper
Pasadena Star News
Date
August 29, 2010
Pages
p. A1, A4
Subjects
Assembly bills
Gambling
Horses and horse racing
Item ID
32354AN
Collection
Newspaper Index
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