Jon Kyl: “Simulcasting of horse racing across the country and around the world has grown exponentially in recent years, to the…”

“Simulcasting of horse racing across the country and around the world has grown exponentially in recent years, to the point that simulcasting now accounts for as much as 60 percent of the industry's total wagering. To foster growth in the simulcasting market, tracks now routinely merge or commingle the parimutuel pools from several tracks and off track parimutuel facilities into common parimutuel pools. Current odds and winning payoffs are then calculated using a totalizator system. Commingling is a practice preferred by bettors because it increases pool sizes and thus helps to minimize the fluctuation of odds and payoffs. Any diminution in its current ability to simulcast or commingle pools could have catastrophic effects on the parimutuel industry.”