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Can you summarize Chapter 260-48 WAAC?
Horse Racing Commission > Mutuels.
Short Summary
The legal document content reviewed covers a wide range of topics related to mutuels in horse racing. It provides guidelines for the types of wagering that associations must offer, including win, place, show, quinella, exacta, trifecta, twin trifecta, superfecta, and quinfecta wagering. The document also outlines the distribution of pools to winning wagers based on the official order of finish, as well as the refunding of pools in certain circumstances. It governs the use of stored value instruments and systems for making or cashing parimutuel wagers, requiring associations to obtain prior approval and maintain detailed transaction records. The document also covers the operation of twin trifecta pools, handicapping contests, future wagers, head-to-head wagering, group bet wagering, and the participation of host associations in common pools. It provides guidelines for conducting pick three, choose (n), and exacta pools, as well as the distribution of place pools. The document also addresses the calculation and distribution of parimutuel wagering pools, the sale and redemption of parimutuel tickets, and the handling of mutuel fields. Overall, these legal documents provide comprehensive guidelines and regulations for mutuels in horse racing, ensuring fair and transparent wagering practices.
Whom does it apply to?
The document applies to horse racing associations, participants in horse racing betting, associations involved in parimutuel wagering, licensed class 1 racing associations conducting handicapping contests, associations approved to offer simulcast races and parimutuel wagering, satellite locations, and advance deposit wagering service providers.
What does it govern?
The legal document governs various aspects of mutuels in horse racing, including the types of wagering offered, the distribution of pools, the operation of specific wagering pools, the use of stored value instruments, the conduct of handicapping contests, and the rules for future wagers, head-to-head wagering, and group bet wagering.
What are exemptions?
No specific exemptions are mentioned in these documents.
What are the Penalties?
No specific penalties are mentioned in these documents.
Jurisdiction
Washington