Horse Racing Needs Slot Machine Subsidy

The horse racing industry calls it “agricultural development” but many of the people in Indiana call it a waste of money. The state takes $27 million of the slot machine revenue and puts it into the horse racing industry each year to keep them up and running. The state and the horse racing industry say that the slot machine revenue must continue to come in or the tracks will have to close, which would lead to a loss in revenue for the state as well as thousands of people who would now be unemployed.

Last year the state approved $27 million to go to the horse races - $0.65 of each $3 paid by the slot machine players upon admission to the casino. The horse racers say that they bring in $11 million for each dollar of that $27 million – but some say if that is the case then why do they need the slot machine money? They think that the racing association needs to stop relying on the state, and have the state use the slot machine revenue for something else that really needs it, like education for example.

Since gambling is the heart of the matter, each form of gambling must support itself – the slot machines support the slot machines – the horse racing supports horse racing. If something isn’t working, don’t keep feeding money into it – let it go.

The $27 million from the slot machines being spent to subsidize the horseracing could go to raising teacher’s salaries, and cleaning up the schools. They say that if the whole idea is to have gambling to bring in money into the state, then why are we using one to feed the other instead of cutting the one that isn’t working out. The slot machines were brought in to give the state much needed revenue; they were not brought in to pay for horse racing.
 

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