Vegas Racebooks to introduce new races--in Hong Kong

For what seems like forever, Vegas sportsbooks have allowed only US-based horse races and for foreign tracks the occassional special event. Now, that may all be changing. A lucrative plan is in the works to have high-paying pari-mutuel pools with overseas gamblers while wagering on races originating from Hong Kong.

One of the largest hold ups to this, however, is what the Hong Kong Jockey Club is demanding for payment. Normally, tracks are paid 2-4% of the house's winnings, while the HKJC is stating they want 14%. Still, Casino owners are drooling over the potential takes in this, and it is being reviewed by the gaming board in both areas of the world to delve into the feasibility and profitability. The chief executive of the Hong Kong Jockey Club told Chinese media that "a large number of casinos" had given Las Vegas Dissemination written commitments to accept the races.

Early estimates state that vver the 78-event season, the pool would be between $1.17 billion ($149 million U.S.) and $1.56 billion ($199 million U.S.) in Hong Kong dollars.

Holy Cow! Or Holy Horse, I should say!

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