from the USTA Communications Department

Columbus, OH — The National Thoroughbred Racing Association is reporting that the U.S. Treasury Department and the Internal Revenue Service have announced that they will formally adopt modernized regulations regarding the withholding and reporting of pari-mutuel proceeds.

The NTRA has long pressed for these updated regulations that will allow horseplayers to keep more of their winnings, thereby increasing the amount wagered on U.S. pari-mutuel racing by as much as 10 percent annually, or upwards of $1 billion, according to independent estimates.

To read the full NTRA release, click here.