Parimutuel handle. Thoroughbred, Kentucky, simulcast wagering
Original Research Article
Since Kentucky introduced inter-track wagering in 1988, and inter-state wagering in 1994, there has been an ongoing substitution of declining live handle with increasing simulcasting handle. Also, since 1995 there has been a marked increase in competition from alternative gaming. At issue is the net effect on parimutuel stakeholder revenue relative to changes in the distribution of parimutuel handle and increased competition. This paper presents a parimutuel revenue budget that can be used to evaluate the marginal revenue of changes in policies, or of actions taken in response to increased competition from alternative gaming.