Ill. approves online horse racing bets -

Ill. approves online horse racing bets

CHICAGO (AP) -- The Illinois Racing Board today issued the state's first three licenses to companies that handle online wagering on horse races. Officials say the move could bring in more than $1.7 million in new taxes for the state.

The board's unanimous vote authorizes electronic betting from computers, phones, interactive televisions and other mobile devices. At least one company, Los Angeles-based TVG Network, says it would be operating in Illinois later today.

The state Racing Board projects such betting could become a $100 million to $150 million industry in Illinois in 2010.

Frank Kirby is the president of the Illinois Thoroughbred Horsemen's Association. He says today's licenses are good for race tracks and horsemen.

(Copyright 2009 by The Associated Press. All Rights Reserved.)

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