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Jennifer Horikawa of Maui, Hawaii, plays on a slot machine at the Main Street Station hotel-casino in downtown Las Vegas on Tuesday, May 26, 2015. The Internal Revenue Service has proposed lowering the reporting level for gambling winnings from $1,200 to $600, a move that the casino industry and its patrons oppose. (Chase Stevens/Las Vegas Review-Journal) Follow Chase Stevens on Twitter @csstevensphoto.
If so, knowing some general horse-betting laws can pay off. Betting on horses is one of America's oldest forms of gambling. But before you sip your mint julep and place your bet, check out these five legal facts about betting on horse races: 1. Betting Age Varies by State. If you've traveled to the Bluegrass State to bet on your favorite steed, you may want to check the betting age. In Kentucky, the gambling age for betting on horse races is 18 -- but in many other states, the minimum age is 21. In states like Texas, children under a certain age may not even be allowed to visit the race track, much less bet on horses.