Bet on race that already happened?

Check out Colonial Downs' initiative to have instant gaming - in the form of a historical racing game - legalized in Virginia (a tough State to get any form of gambling legalized)...historical racing is a game that, according to this story "saved Oaklawn Park". The game apparently shows you statistics of some form on each horse for a random race, you handicap, bet and then get paid out if you win. Tons of money would be generated - no doubt about that - and it's kind of a romantic blend of horse racing and slot machine - hmmmmmm.

http://www.washingtonpost.com/wp-dyn/content/article/2007/01/24/AR2007012402058.html