thumb|350px|[[Monticello Raceway in New York where the casino has been incorporated into the grandstand]]

A racino is a combined horse racing track, or other live parimutuel betting facility, and casino. In some cases, the casino gambling is limited to slot machines or video lottery terminals, but many locations also offer table games such as blackjack, poker, and roulette. As of the end of 2023, there were approximately 50 racinos operating in the United States. Racinos operate in other countries, including Canada and France, as well.

History in the United States

Beginning in the late 1970s, the popularity of horse racing began to decline in the United States, as evidenced by the inflation-adjusted decline in wagering by 52 percent from a peak in 1977 through 2006. This decline in wagering occurred despite efforts to increase parimutuel wagering through initiatives such as off-track betting and advance-deposit wagering.

In 1992, in response to the opening of the Foxwoods Native American casino nearby in Connecticut, the Rhode Island legislature passed a bill permitting electronic gaming devices at the state's two parimutuel wagering venues, Lincoln Greyhound Park and Newport Jai Alai.

An early success story was the mid-1990s turnaround of the Prairie Meadows racetrack in Polk County, Iowa. Prairie Meadows, which opened in 1989 but went bankrupt by 1991, was bought by the county government in 1993.

Other states followed suit. Delaware authorized racinos in 1994, and Louisiana and New Mexico in 1997. This style of gambling was first introduced at Oaklawn Park in Arkansas in 2000. Only two greyhound tracks continue to operate in the United States, both of which are racinos in West Virginia.

Today there are approximately 50 racinos operating in 17 U.S. states, not including any tracks offering historical horse racing machines. Four other racinos were also in the top 20, as were two former greyhound racing facilities.

References

  • Dictionary entry tracing the term back to 1995
  • Gambling drives passion for ponies, a June 2003 article from USA Today
  • Argument Over VLTs at Tracks Heats Up, a December 2003 article from the Detroit News