The Yokohama Municipal Assembly on Thursday approved a revised ordinance that will allow the city to impose Japan's first local tax on horse-race betting.
Japan's second most populous city, which is also the birthplace of modern horse racing in the country, estimates that the 5 percent levy on bets placed at the city's two off-track betting booths will bring in 1 billion yen a year.
This estimate is based on the 136 billion yen the Japan Racing Association earned last year in pari-mutuel ticket sales in Yokohama.
The JRA then had only one booth, located near JR Sakuragicho Station. It opened a second booth in November this year.