Woman-Owned Sportsbook Owner Leads Push For Historic Horse Racing In Maryland

For Alyse Cohen, the stakes couldn’t be higher. 

The owner of Long Shot’s, a Frederick-based off-track betting facility (OTB), is leading a coalition in a legislative effort to bring Historic Horse Racing (HHR) machines to Maryland’s OTBs.

“I’m really trying to get the word out there as to why we think HHR is the appropriate next step in Maryland gaming,” Cohen said.

Cohen grew up on a horse farm in central Maryland, where visiting the local OTB was a regular part of her childhood.

“Going to the OTB every Friday night — which was called the Crack Claw — was a big part of my growing up,” she said.

When the Frederick OTB license became available, she and her father acquired it, opening their facility in late 2019, just before the COVID-19 pandemic. 

“After we got through the initial sort of COVID hurdle, we skyrocketed and things were looking really great,” Cohen said. “But unfortunately, since 2021, our handle has been down significantly.”

Despite adding retail sports betting (via a partnership with Caesars) to her business, which made her “the only 100% woman-owned sportsbook in America,” Cohen says it hasn’t been enough to sustain the operation. 

“Retail sports betting has been a real struggle throughout the country unless you’re in a casino,” she said. “It’s a real challenge.”

The HHR solution 

Cohen believes the solution is Senate Bill 982 (with a companion House Bill 1048), which would authorize historical horse racing (HHR) machines at Maryland’s off-track betting facilities. HHR machines allow players to bet on previously run horse races, with identifying information removed. Players can review historic statistics before placing wagers, which Cohen emphasizes makes it “a game of skill” rather than pure chance. 

The technology has proven successful in other states, particularly neighboring Virginia, where facilities like Churchill Downs’ “Roses Emporium” offer as many as 1,800 machines. Cohen points to Kentucky, which she says raised $147.7 million in statewide tax revenue from HHR in 2023.

Cohen estimates that nearly $43 million annually is leaving Maryland for gaming facilities in neighboring states, money she believes could be kept in-state with HHR.

“We’ll be keeping all of these Maryland dollars in Maryland,” she said. 

The bill would cap the number of HHR terminals statewide at 4,000, with revenue sharing similar to existing sports betting operations — licensees would retain 85% of proceeds, with the state’s portion going to the Blueprint for Maryland’s Future Fund. Cohen projects that HHR could generate close to $65 million annually in tax revenue for Maryland.

Casino opposition

Cohen anticipates resistance from Maryland’s casino operators, who she expects will oppose the measure despite her argument that OTBs wouldn’t significantly impact their business. In Kentucky, Churchill Downs has embraced HHR, launching seven HHR-driven entertainment venues.

She maintains that her facilities don’t threaten casino revenues because they’re geographically separated — all Maryland’s OTBs are over an hour from the nearest casino, with the exception of Timonium — and offer a different gaming experience.

“My numbers show that we do not cannibalize their business to any degree, to any significant degree. It’s less than 4% of cannibalization,” Cohen said.

Emails to Cordish Companies and MGM went unreturned.

Small business vs. big gaming

There are only five OTBs in Maryland outside of racetracks and casinos. All are part of Cohen’s coalition seeking HHR authorization.

These facilities are typically located near Maryland’s borders, with Cohen describing them as serving areas that “lack economic opportunity.” She argues that HHR would generate jobs and support other businesses like restaurants, convenience stores, and hotels.

“It’s not just my business,” she said. “This could create these oases in areas that are opportunity zones.”

Cohen frames the legislative fight as small businesses versus large gaming corporations, arguing that Maryland should create opportunities beyond major casinos.

The Maryland General Assembly will hold hearings on the legislation on March 5 and 6, with votes expected to follow in the coming weeks.

For Cohen, who has built her business in the male-dominated gaming industry, the bill represents not just her livelihood but a chance for Maryland to support small businesses while addressing its budget shortfall.

“Maryland is facing a $3 billion deficit, and this is literally the most logical and easiest way for Maryland to raise revenue,” Cohen said. “We already have OTBs and retail sports books are already gaming centers. And we will not cannibalize the casino business.”