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A racino is a combined race track and casino. In some cases, the gambling is limited to slot machines, but many locations are beginning to include table games such as blackjack, poker, and roulette.
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In 2003, Joe Bob Briggs described the economic motivation of race track owners to convert into racinos:
- Horse racing and dog racing have been in a slow decline for almost 20 years now....the only tracks that have really thrived are the ones that have slot machines. In many cases their live handle (the daily amount bet at the track by live customers) has continued to decline, but their revenues have shot up so fast that they're able to offer the biggest purses and thereby attract the best horses. Tracks like Delaware Park and West Virginia's Mountaineer Park, once considered places where local degenerates bet on broken-down nags in claiming races, are now among the wealthiest tracks around, with the best races. Fabled tracks like Pimlico, on the other hand, sometimes have trouble making ends meet.
In the United States[edit]
USA Today noted in a June 2003 article that receipts from slot machines are divided about evenly in four ways:
- Payment of the operating costs and payouts to lucky gamblers,
- State taxes,
- Prize money (the purse) offered to jockeys and horse owners, and
- Profit for the racino operator.
As of 2013, racinos are legal in ten U.S. states: Delaware, Louisiana, Maine, New Mexico, New York, Ohio, Oklahoma, Pennsylvania, Rhode Island, and West Virginia.[1] The first racino in Pennsylvania opened in November 2006. West Virginia pioneered the concept when MTR Gaming Group was allowed to introduce video lottery terminals (VLTs) to the venue now known as Mountaineer Casino, Racetrack and Resort in Chester. Delaware, Rhode Island, and West Virginia, three of the members of the Multi-State Lottery Association (MUSL), jointly ran a progressive VLT game, Ca$hola, from 2006 to July 2011; the three lotteries began offering Ca$hola's successor, MegaHits, on July 15, 2011.
While VLTs were somewhat successful, a November 2003 article from the Global Gaming Insider noted the real financial success story was the introduction of reel spinning slot machines in Iowa:
- In 1994, Iowa voters authorized reel spinning slot machines at Iowa racetracks (including Greyhound tracks). Polk County, the owner of a brand new, bankrupt horse track, Prairie Meadows, spent $26 million to convert the clubhouse into a casino and install 1,100 slot machines. The racino opened for business on April 1, 1995. Reel-spinning slots proved to be much more popular than video poker. In the twelve months ended March 31, 1996 machine revenues totaled $119.3 million, enabling Polk County to pay off the $27 million bond issue that paid for the clubhouse casino conversion and retire the track's initial $38.8 million bond issue 17 years early.
As the racino had increased revenues, horse racing purses increased six-fold, which attracted better horses to the racetrack and helped to develop horse breeding in Iowa.
The Global Gaming Insider article also noted that the creation of the racino has led to consolidation in the ownership of racetracks, with Magna Entertainment Corporation (currently Stronach Group) and Churchill Downs Incorporated the largest.
In November 2004, Florida voters amended their state constitution to allow slot machines at parimutuel facilities.
In Bangor, Maine, a $131 million complex is under construction that will house, among other things, a gaming floor featuring up to 1,500 slot machines, a seven-story hotel, and a four-level parking garage. The new racino is slated to open in the summer of 2008. In Biddeford, Maine on November 2, 2010 by a vote of 59%-41% approved a referendum to relocate Scarborough Downs to Biddeford with a new Harness Racing Track/Racino Complex with Slot Machines, an Entertainment Complex and a 200 room Hotel. The plan is to have most if not all of the complex open sometime in 2012. Maine voters also approved the Oxford County Maine casino on Nov 2, 2010 also, the indications are that the Bangor Maine Racino and the possibly relocated Scarborough Downs Racino facility could also have table games as well.
There are two racino-like facilities in Arkansas. The Oaklawn Jockey Club Racing Track, a horse track, is in Hot Springs. Southland Park, a greyhound track, is in West Memphis.[citation needed]
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References[edit]
- ^North Dakota Legislative Council staff for the Legislative Audit and Fiscal Review Committee. 'Other states' horse racing tracks - North Dakota Racing Commission revenue history'(pdf). Retrieved 2007-06-20.
External links[edit]
- 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
Slots
Take a spin. Hit it BIG! We have more than 2,200 slot machines including progressives. You can play our popular penny machines all the way up to our $100 slots. It is a sure bet that we have many of your favorite games!
Slots are among the most popular attractions at Dover Downs Hotel & Casino for good reason. They are fun, easy to play and one of the simplest ways to win big. Enjoy a few games to warm up before visiting our poker room or table games, or play all night and earn exclusive rewards as a member of our Capital Club. Whatever your game of choice, you will find a wide range of options at Dover’s premier gaming destination.
Why Play Slots?
Even if you have never played a casino game before, you can win big with slots. Slots are often the first game one learns when they experience the excitement of a casino for the first time, and with good reason. It is by far the easiest game. There are no rules to learn, no dealer you need to explain your bets to, no other players waiting for you to act. It is just you, the machine and lady luck.
If you have ever walked by a casino floor, you have almost certainly seen the excitement of slots in action. People whooping for joy as bells and whistles go off or money clanks, coin after coin, into the tray. The anticipation on a player’s face as they make that next pull. Slots is a fun and engaging game that can go on for hours of fun.
Another nice feature about slots is that they cater to small and big players alike. Our slots come in multiple dominations, so whether you are a nickel player or you want to let $5 ride on each spin, we can accommodate you. There are also multiple betting options on each machine, so you can try your luck with one bet or set yourself up to win big with multiple bets per spin. It is all up to you.
How to Play Slots
Slots are a great introduction to casino games because it is so simple. Just start by inserting your preferred money denomination into the machine. That denomination, divided by the cost of the machine, tells you how many units you have to play with. Each machine may give you the option to play multiple units per spin. These extra units may provide you with more payout lines or serve as a multiplier for whatever you win.
Buttons on the machine are clearly marked to show you how to make as many bets per spin as you want, up to what the machine allows. Keep in mind, if you are trying to win the progressive jackpot, you will need to bet the maximum number of units per spin. Once you have inserted your money and chosen your bet, just pull the handle or press the spin button and watch the fun! How the symbols line up on the screen will determine how much you win each time.
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There should be a pay table printed on the machine that will show you how much each symbol combination pays, but you do not have to know this information — the machine will automatically calculate your winnings from the symbol combination that comes up. Remember — although there is one main pay line horizontally across the center, if you are playing multiple bets, it is possible you can get paid on multiple lines: above the center line, below it, even vertically and diagonally.
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And when you win, do not look for coins to drop into the tray. Your winnings will continue to be digitally added to your unit total until you cash out. That is all there is to slots!
Promotions and Deals
If you are serious about slots, you will want to take advantage of the many promotions and discounts available to you as a loyal visitor. First among them is our Capital Club®, an exclusive rewards program that lets you earn points each time you play our slots or other games. Earn enough points and qualify for perks such as a free night’s stay in our luxurious hotel, meals at our restaurants, valet parking and much more.
Great deals and one of the largest collections of slots in the Mid-Atlantic region are just two of the reasons why Dover Downs Hotel & Casino is a winning destination for fun and excitement. Stop by Dover Downs Hotel & Casino for a winning day!