BISMARK, NM—APRIL 7, 2017—Earlier this week North Dakota House lawmakers narrowly defeated a bill that would have allowed "Historical Racing" machines at the state's racetracks.

Senate Bill 2221, which allowed for wagering on historic horse racing, failed in a 45-46 vote after passing the North Dakota State Senate in March.

A fiscal note prepared by the state Racing Commission, which would have regulated the historic horse races, predicted as much as $250 million in wagering in 2019, which would then drop off to $200 million in each of the next two years.

Some of the revenue would have gone to the state’s general fund, the compulsive gambling prevention and treatment fund, local government coffers and three funds administered by the Racing Commission.

North Dakota currently allows wagering on live and simulcast horse races.

Rep. Mike Nathe, R-Bismarck, said the people involved in raising horses are “ag-based people.”

“The money that can be garnered from this can help increase that business, help jump-start that industry,” he added.