Horse racing: out-of-state thoroughbred races: Whitney Stakes.
The impact of AB 1946 is significant for the horse racing industry in California as it seeks to enhance the wagering experience by enabling thoroughbred racing associations to offer additional betting options. Specifically, by exempting the Whitney Stakes from the daily race cap, the bill aims to attract higher levels of betting activity and interest, potentially increasing revenue for the racing industry. This could lead to economic benefits for related businesses and the state, as more wagers might be placed, particularly on high-profile races.
Assembly Bill No. 1946, authored by Alanis, amends Section 19596.2 of the Business and Professions Code concerning horse racing. The bill specifically addresses the limitations on the number of out-of-state thoroughbred races that a thoroughbred racing association or fair can import and accept wagers on. Currently, this limitation caps the number at 50 per day during live racing events, with certain exceptions for prestigious races. AB 1946 introduces an exemption from this cap for races that are part of the Whitney Stakes, allowing them to be imported without counts against the daily limit.
The sentiment surrounding AB 1946 appears largely favorable among stakeholders in the horse racing community. Proponents argue that the exemption for the Whitney Stakes will capitalize on a major racing event, drawing more attention and wagers to California racing. However, there may be concerns from local associations about fairness and equal opportunity for other races that may not receive similar exemptions. Despite this, the overwhelming voting support observed indicates a positive reception towards the bill's intent and potential benefits.
While the bill presents clear benefits from a wagering perspective, some opponents may argue about the implications of prioritizing certain races over others. The exemption could be seen as preferential treatment, which might resonate with smaller racing associations feeling overshadowed by larger events. Nonetheless, the bill aligns with broader trends of liberalizing betting laws and recognizing the importance of major racing events in boosting participation and revenue in the horse racing sector.