SIMULCASTING MAY NOT EVEN HELP RACE TRACKS

A bill before the Missouri Legislature would allow year-around simulcasting at horse-racing tracks -- yet another gambling opportunity to go with bingo, lotteries and casinos.

Voters approved horse betting in 1984, but the law allows simulcasting only on the same number of days as tracks hold live races. The proposed bill, which has already been approved by the House, would allow year-around simulcasting at tracks.

In simulcasting, bettors wager on races at other tracks that are shown on TV screens. Industry experts say simulcasting is a must if track operators are to survive.

After failures by other tracks in Missouri, a Canada-based company, Magna Entertainment Corp., is pushing for the measure. It chose Missouri because betting on horses is legal and because other sports industries thrive here

A resounding question of lawmakers is whether there is a future for horse betting even with simulcasting. Many have expressed the belief that there would be too much competition from the casino industry.

Magna Entertainment estimates that bets on live racing would total $18 million in Missouri while bets on simulcast races would total $72 million. About $22 million more could come from bets made in other states on Missouri races, the company said.

Those sound like huge figures considering racing would have to compete with the growing casino industry in the state. Lawmakers questioning the feasibility are right: Even with simulcasting, horse betting still sounds like a risky undertaking in Missouri.