During its most recent session, the Minnesota State Legislature passed and the state governor signed into law legislation authorizing the licensing and oversight of advance deposit wagering (ADW) providers in the state. While ADWs have been available to residents of Minnesota through a variety of providers for some time, never had these providers been regulated by the state and none of the revenues generated from residents were returned to the racing industry. Beginning this coming November, Minnesota residents will enjoy increased consumer protections and will be supporting their own state’s racing industry.
“The bill provides a secure and dedicated funding source from within the industry itself, and without expanded gambling, to ensure regulatory oversight and to capture new revenue for the state’s racing and breeding industry,” explained Tom DiPasquale, executive director of the Minnesota Racing Commission.
Racing in Minnesota has been on an upswing in recent years at both Canterbury Park and at Running Aces Casino and Racetrack, with the former now offering some of the lowest takeout rates in the country. Record purses are also on offer and a record amount of breeders’ awards was paid in 2015. Under this new law, an estimated $1.5 million annually will be recaptured from newly licensed ADW providers and redirected towards further bolstering purse levels and towards increased financial awards for breeders.