Word: mutuels
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Long before the Civil War there was horse racing in New Jersey. In the 1880s Jersey's Monmouth Park, with its imported British bookmaking system as well as new-fangled pari-mutuel betting machines, was the rendezvous for New York's fashionable "400." But the citizens of New Jersey in 1897 decided that gambling was a menace, outlawed it, killed racing...
Last week a new generation of Jersey voters, following in the footsteps of 21 other U. S. States which have recently grasped at gambling as a source of revenue, decided to revive horse racing, voted to legalize pari-mutuel betting in their State. Taxes on the pari-mutuel take at four proposed tracks (probable sites: Camden, Atlantic City, Asbury Park and a spot near the Jersey end of the George Washington Bridge, just across the river from New York City) will add $5,000,000 a year for State Relief, avert a threatened State income tax (which Jerseyites have...
...York, where there are five race tracks, betting on horse races has been illegal since 1908, but bookmakers for the past five years have been permitted to operate at the tracks through a loophole in the law. Although most New York racing fans consider pari-mutuels* (which have been legalized in 18 States) a fairer system of betting, a small but powerful lobby in Albany has for five years influenced legislators against replacing book betting with pari-mutuel machines...
...year ago New York's law makers, enviously noting that California collects some $2,000,000 a year from the 4% tax on the pari-mutuel handle at its race tracks, finally turned a deaf ear to lobbyists, passed (33-To-14 in the Senate, 110-to-36 in the Assembly) a resolution for a constitutional amendment to legalize pari-mutuel betting. Under New York law, however, it had to be passed by two successive Legislatures before it could be submitted to the voters for referendum...
Miami, No. i winter playground of the U. S., attracts 800,000 visitors each year between January and April. Last winter they poured $35,000,000 into the pari-mutuel betting machines at Greater Miami's two racetracks, Hialeah and Tropical Park...