The Illinois Racing Board has given permission to three web sites to begin accepting bets on horse racing. Gamblers can now place bets from home by phone, web site, interactive television and mobile devices. Wagers were previously only allowed at horse tracks or off-track betting parlors which have seen a steady decline in recent years.
The state will apply a 1.75% tax on each transaction which is estimated to bring in at least $1 million in revenue to Illinois per year. The remainder will be divided among track owners and horsemen in the form of increased purses.
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