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Can you summarize LARS 4.149.5?
HORSE RACING > Account wagering
Short Summary
This legal document governs account wagering in the state of Louisiana. Account wagering is defined as a form of pari-mutuel wagering where individuals can deposit money into an account with an authorized licensee and use the account balance to place wagers in person, by telephone call, or through other electronic means. The document states that the commission shall adopt rules regulating account wagering and authorize it to be conducted by a licensee operating a pari-mutuel live horse racing facility. The highest source market percentage paid to the licensee by any other account wagering carrier located outside of the state shall be paid to the licensed racing facilities in the state. The document also permits authorized licensees to conduct account wagering on live horse races conducted at their facility and races conducted at other facilities where they are lawfully authorized to accept offtrack wagers. Commissions may be deducted from wagers placed through account wagering and paid to the person or entity conducting the race. The provisions of law and rules governing pari-mutuel wagers on horse races placed in person within the licensed race meeting grounds apply to account wagering. Wagers placed through account wagering are treated as if placed within the authorized enclosure. The document also addresses the distribution of shares of the takeout from wagers placed through account wagering and allows for modifications with the concurrence of the licensee, Horsemen’s Benevolent and Protective Association, and the appropriate breeders’ organization. It prohibits account wagering systems located outside of the state from accepting wagers from residents or persons located within the state, except with permission from a licensee of race meetings or a licensee authorized to conduct account wagering in the state for races not conducted in the state.
Whom does it apply to?
Licensees operating a pari-mutuel live horse racing facility, authorized licensees, active account operators residing in the state of Louisiana
What does it govern?
Account wagering
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Louisiana