74-8819. Parimutuel wagering.

383 words·~2 min read·/ks/chapter-74/74-8819

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)Organizations licensed pursuant to K.S.A. 74-8813 or 74-8814 , and amendments thereto, may conduct parimutuel wagering on the results of horse and greyhound races held on dates and at racetrack facilities approved by the commission and on simulcast races as provided by K.S.A. 74-8836 , and amendments thereto. All persons participating in such wagering shall be present within the confines of the approved racetrack facility.

(b)Organization licensees shall issue a ticket to each person placing a wager, which ticket shall show the date and number of the race, the amount wagered and the number of the horse or greyhound selected by the person. The licensee may receive wagers on horses or greyhounds to finish first, second, third, fourth or any combination thereof within the same race or among two or more live races conducted or simulcast races displayed on the same day at the same racetrack facility, as authorized by the commission.

(c)After wagering has been closed for each live race conducted by the licensee, the organization licensee may deduct an amount not exceeding 18% of the total wagered in each parimutuel pool and the balance, less the breakage, shall be paid to holders of winning tickets for that pool in accordance with procedures authorized by the commission. The commission may authorize a higher amount not exceeding 25% to be deducted from the total wagered in parimutuel pools for multiple and exotic bets.

(d)From the amount deducted as provided in subsection (c), the organization licensee shall pay the purses as provided in K.S.A. 74-8820 , and amendments thereto, and the tax as specified in K.S.A. 74-8823 , and amendments thereto. The balance of the amount deducted shall be used for the purposes of the organization licensee as such purposes have been represented to the commission.

(e)The provisions of K.S.A. 74-8836 , and amendments thereto, shall govern takeout and its distribution in the case of simulcast races displayed by an organization licensee.

(f)No organization licensee shall loan money or any other thing of value to any person for the purpose of permitting that person to wager on any race.

(g)All parimutuel tellers and clerks shall be employees of the organization licensee approved by the commission to conduct the parimutuel wagering at a race meeting.