In order to clear up any misconceptions about the legality of online wagering on horse racing, it has been reported that New York Congressman Scott Murphy
will be introducing legislation aimed at clarifying to credit card companies that horse racing is exempt from the 2006 federal law which prohibits online gambling.
The proposal, Murphy said, is expected to be introduced this week in the House. He said he hoped it would pass before the end of the year.
An article on poststar.com explains that at least one credit card company, MasterCard, has refused to accept racing-related wagers out of concern they could be targeted under an interpretation of the law.
"I'm sure there has been some traffic lost already, although I don't think it's a huge number," Murphy was quoted as saying. "The disaster scenario is if these other credit card companies decide to cut these transactions off, too."
"Since 2000, the horse racing industry has built a significant technological and regulatory infrastructure to support online pari-mutuel wagering," Alex Waldrop, the president and CEO of the National Thoroughbred Racing Association, was quoted as saying. "This legislation will protect that investment and market in New York - a major racing state - and nationwide."
(With files from poststar.com)