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Read this: Want to impress your out-of-town guests? Here's where to take them. Keeneland, a rival track near Lexington, has operated a similar facility for years under a deal with the Thoroughbred Club of America. The club will feature indoor and outdoor bars, handicapping seminars, contests and parties leading up to the Kentucky Derby, the Breeders' Cup and other big racing events in Kentucky "and throughout the world," according to the website.

Read this: Horseshoe casino is getting a new name plus on-site sports betting. Steinbrecher, whose companies own several buildings, is an owner of Louisville-based Derek Engineering Inc. Steinbrecher and Schnell also made a big investment on Main Street, renovating the Ice House building nearby at E. There were hints from the outset that Churchill Downs track officials and the Thoroughbred Society creators may create a tighter partnership someday.

Because the building is on the historic registry, McLean said, approvals for various modifications to it have taken extra time. Part of the club will feature an outdoor, rooftop cigar bar that required changes that added to the delays. The recent wet weather has also delayed the start of an attached parking garage. Many of these locations also offer events and promotions such as handicapping seminars and contests throughout the year.

Keeneland Association. Thunder Ridge. Phone: Sometimes, even with Off Track Betting facilities located throughout the state, you just cannot make it out to watch and wager on a horse race in person. Thanks to online racebooks, now you never have to miss a second of the excitement of live horse racing betting.

With one of these top, recommended online racebooks, horse racing action is just a click away thanks to the ease and convenience of a computer or mobile device. One of the best parts of an online racebook is that they offer sign-up bonuses, rebates and incentives you cannot find anywhere else. Check out one of these recommended, top rated online racebooks — they are industry leaders in security, ease of use and most importantly, bang for your buck!

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Open an online horse betting account with one of the reputable and trusted online racebooks listed here. We highly recommend these options as safe, secure, and above all, convenient off track horse betting options.

First and foremost, we believe that the modernization of the traditional horse betting pastime should not be ignored, and as such, we strongly recommend betting online. Our list of recommended sites boast solid reputations for safety, security and customer service, and above all, offer unmatched betting convenience.

While every racing fan wants to be at the Kentucky Derby, we know that's just not possible. But you can catch the race from the comfort of your own home - while sipping a mint julep - and bet the race through one of our recommended online racebook partners.

Kentucky Derby Picks Whether you're a horse racing fan based in Kentucky, or wanting to bet Kentucky racing from anywhere else in the world, we've got you covered! Keep a keen eye on our site as we continue to serve up the most relevant horse racing news, track updates and big race contenders for Kentucky! Place a bet on your favorite horse now. Parimutuel betting French for mutual betting is a betting system in which all bets of a particular type are placed together in a pool; taxes and a house take are removed, and payoff odds are calculated by sharing the pool among all placed bets.

The parimutuel system was invented by Parisian perfume maker Pierre Oller in when asked by a bookmaker friend to devise a fair system for bettors which guarantees a fixed profit for the bookmaker. The large amount of calculation involved in this system led to the invention of a specialized mechanical calculating machine known as a totalisator, "automatic totalisator" or "tote board".

Since then totalisators came into widespread use at race courses throughout the world. The parimutuel system is used in gambling on horse racing, greyhound racing, jai alai, and all sporting events of relatively short duration in which participants finish in a ranked order. Parimutuel gambling is frequently state-regulated, and offered in many places where gambling is otherwise illegal.