New Mexico: Advanced Deposit Wagering Bill Would ‘Modernize And Digitize’ Pari-Mutuel Wagering

In a letter to New Mexico horsemen sent out on Thursday, Feb. 4, the New Mexico Horsemen’s Association executive director Richard Erhard announced that state representative Candy Ezzell will introduce a bill to legalize advanced deposit wagering on Monday, Feb. 8.

The bill, HB199, will be introduced before the House Commerce and Economic Development Committee at 1:30 p.m., local time. It was developed in concert by the NMHA, New Mexico Horse Breeders Association, and Jeff True, president and general manager of Ruidoso Downs.

“The overarching objective of HB199 is to Modernize and Digitize our Pari-Mutuel Domain and allow New Mexico residents to wager on horse racing (our New Mexico content) through the use of their own personal electronic devices, i.e., mobile phones,” Erhard wrote. “There are numerous positive aspects of this legislation, however three notable positive outcomes are as follows:

  1. Allow further penetration into our pari-mutuel market, therefore creating more revenue for the state of New Mexico and its legendary horse racing industry.
  2. Maintain the current level of on-track revenue.
  3. Stop bet poaching by out-of-state ADW groups.”

For more information, the full letter to horsemen is available here.

The post New Mexico: Advanced Deposit Wagering Bill Would ‘Modernize And Digitize’ Pari-Mutuel Wagering appeared first on Horse Racing News | Paulick Report.

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