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Horse Racing is Betting on Internet Wagering

"Horse racing's solution might be less obvious: Get people to stay home -- and bet.

"In a seemingly paradoxical and counterintuitive turn, online technology, which would appear to discourage going to the races, is being viewed as a potential life-saver for a sport on life support.

"When the 131st Preakness Stakes is run Saturday at Pimlico Race Course in Baltimore, advanced-deposit wagering -- the broader category of which online betting forms the greatest share -- is expected to make up a growing portion of the bottom line.

"...During this year's Kentucky Derby Day, Youbet.com -- the largest provider of Internet racing content in the country -- processed nearly $5.6 million in wagers, a 34 percent increase over 2005.

"Horse racing and online wagering officials say the near-term consequence of online betting is an increase in the racing industry's overall handle. But just as important, they contend, is that in the long run, people who are introduced to horse racing via the computer will be enticed to see the real thing more often..."

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