Quoted from BlackCatBone:This one is a horserace one-ball, and hard for me to decode. The backglass is a Victory Derby or Victory Special that has been relabeled "Hold Your Horses." The playfield again appears to be a Victory Derby/Special but has had the A-B-C-D bumpers added, which were not present on the original game. The cabinet I do not recognize, but it is not from Victory Derby. Does anyone have any idea what this game really is?
Went back and looked through - only Bally's Gold Cup had a similar button arrangement, but it's not the same (http://ipdb.org/showpic.pl?id=1027&picno=22843), so I have a couple observations:
Updated ad at seattle.craigslist.org link
1) This appears to be a hand-painted title. I am making that assumption based on the paint marks on the left side, and the fact that the lettering is not centered within the title area. Plus it absolutely matches the same area as on Victory Special. Too much of a coincidence, I think!
2) Cabinet doesn't match any known, but the stencil artwork is very good - the backglass repaint is very good as well - someone cared about this conversion. The left side stencil you can see where they gave up in the middle. The second horse was not completed.
3) Buttons - I'm gonna guess this is a giant toggle switch for 'holding your horses' or keeping your selections static. Makes the name make sense, would be fairly easy to implement.
Because of the above, I think this was probably just a nice conversion. Unusual to see extra player-friendly features exposed, if indeed that's what the buttons are for, but neat to think about.
Now, a question of my own: this is a replay game - where are the replays shown on these early games? A credit projection unit?