3 minute read
They've had to cancel the Internationals which is a great shame.
Racing didn't happen for several months and then it resumed by behind closed doors. This was a problem for the KRA as they do not have off-course betting and with no public at the tracks this meant no revenue.
Now a group led by Representative Kim Seung-nam, of the ruling Democratic Party, have proposed a partial amendment to the Korean Horse Racing Act to legalize online wagering. If it is successful, online betting could be in place early next year.
Racing contributes substantial tax revenues from betting and it has been estimated that 751.7bn Korean Won ($635 million) has been lost this year up to the end of August.
The KRA has put a lot of effort into developing their racing in recent years and it is hoped that this legislation will get through.