Instant Racing Tax Revenue Up

{Frankfort, Kentucky}...In November, instant racing wagering jumped to $8.4 million, up $1.65 million, or 24.38 percent. In October, almost $6.8 million was wagered at Kentucky Downs. The figures, reported to the Kentucky Horse Racing Commission, show that the track's 200 machines averaged almost $2 million a week in bets last month. About 91 percent was paid back to gamblers in the form of winnings, while $725,903, was divided between the track and the state, which gets about 17 percent of the takeout in pari-mutuel taxes. Half of the pari-mutuel tax goes into the Kentucky Thoroughbred Development Fund, which puts the money back into purses for Kentucky-bred racehorses. In November, more than $63,000 was paid into the purse fund. For 2011, about $147,000 has been generated for purses through instant racing tax revenue.