Idaho Proposition 1 in 2018
One thing that I like about Idaho Proposition 1 is that it is much easier to understand than Florida Amendment 3.
- A yes vote is a vote in favor of this measure to legalize the use of video terminals for betting on historical horse races, also known as instant racing.
- A no vote is a vote against this measure to legalize the use of video terminals for betting on historical horse races, also known as instant racing.
The expanded version of this bill is relevant and reads as follows:
Historical horse race is defined in the measure as “a race involving live horses that was conducted in the past and that is rebroadcast by electronic means and shown on a delayed or replayed basis for the purposes of pari-mutuel wagering conducted at a facility that is authorized to show simulcast and/or televised races where at least eight (8) live horse race days are conducted annually.” Historical horse racing, like live horse racing, is pari-mutuel, which is defined in the measure as “any system whereby wagers with respect to the outcome of a race are placed with, or in, a wagering pool conducted by a person licensed or otherwise permitted to do so under state law, and in which the participants are wagering with each other and not against the operator.”
States and countries who get to enjoy real gambling might be unfamiliar with how this process works. Basically, the bettors are using video terminals to place bets on horse races that have already happened.
These video terminals will be permitted at any racetrack or place in which eight (or more) live racing days are conducted each year. The wagering is conducted and the house takes a vig, which means they get a cut of no more than 10% of all monies wagered. The remainder is distributed on a pari-mutuel basis.
This is a pretty silly form of gambling as you are betting on horse races that have already happened and then they are being rebroadcast and replayed on video screens, then you see if you won or not. Either way, some people do bet on these races and the Legislature had once authorized such gambling, though it was later repealed. Now, the measure is being left up to the voters.
The amount of spending being done on this bill is surprising, at least to me:
| Issue: | Idaho Proposition 1 |
|---|---|
| Spending For | $3,448,186.65 |
| Spending Against | $2,947,669.72 |
Treasure Valley Racing has contributed almost all money in of this bill. There are a few groups against this bill for reasons, quite honestly, that seems a bit vague. We couldn’t find much information related to how this bill is polling, so I suppose we will just see how it goes.
