From a cultural, economic and environmental perspective, economic benefit, the benefits directly and indirectly supported by horse racing are worth preserving and nurturing for the generations ahead. Those numbers are impressive to economists and statisticians, and particularly impressive to those people holding those jobs in the states where they pay taxes. But, there is something far deeper involved. Allow me a few moments on the horse racing industry. As the past President of Harness Tracks of America, current Present of Thoroughbred Racing Communications, and a past Director of Thoroughbred Racing Association, and a former minor horse owner myself, let me say that racing holds a very special place in American gambling, but, more importantly, in the American psyche.
Horse racing is a historic and beloved past-time in the American culture.
There is no parallel in other gaming, nor really any comparable moment in American sport to the high drama and beauty of either the Kentucky Derby or the Hambletonian. These great days are woven into the fabric of American life. Having given you a moment of poetry on racing, I will turn to practical reality. The truth is that not all gambling is created equal. Horse racing handicapping, by its nature, is a skill- based enterprise.