In 1978, the Interstate Horseracing Act (IHA) became law. It legalized wagering across state lines. This gift of distribution could have taken Thoroughbred racing to a level unimaginable today; however, there was a catch. Racing would get nationwide expansion of its monopoly on legal wagering, BUT the law would take away control of its product and distribution by empowering the weakest segment of racing with “approval.” It was a curse.
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