(b) Each sports pool, including an online sports pool operator, that offers to accept parlay card wagers shall fully, accurately, and unambiguously disclose on all parlay card wagering forms:

1. (1) The amounts to be paid to winners or the method by which such amounts are to be determined and, if the sports pool limits payouts to an aggregate amount under subsection (c) of this section, the aggregate amount and the establishments to which it applies;
2. (2) The effect of ties;
3. (3) The minimum and maximum betting limits, if any;
4. (4) The procedure for claiming winnings, including but not limited to the documentation players must present to claim winnings, time limits, if any, for claiming winnings, whether winnings may be claimed and paid by mail and, if so, the procedure for claiming winnings by mail;
5. (5) The effects of an event wagered on not being played on the date specified and of other events that will cause selections to be invalid;
6. (6) The requirement that a parlay card wager must consist of at least three (3) selections that have not become invalid under applicable house rules or the wager will be void and the money wagered will be refunded;
7. (7) The rights, if any, reserved by the sports pool, including but not limited to reservation of the right to refuse any wager or delete or limit any selection prior to the acceptance of a wager, or to withhold payouts of specified amounts until the outcome of each proposition offered by the parlay card has been determined;
8. (8) The requirement that the point spreads printed on the parlay card wagering form when the wager is accepted will be used to determine the outcomes of the wagers; and
9. (9) That the sports pool’s house rules apply to parlay cards unless otherwise stated on the parlay card wagering form.

(c)

1. (1) As used in this subsection, “parlay card” means a wagering form offering exactly the same propositions on exactly the same terms.
2. (2) A sports pool may limit the aggregate amount to be paid to winners on a parlay card in proportion to the amounts won.

3. (3)

   1. (A) When a sports pool knows or reasonably should know that actual payouts on a parlay card will be limited by an aggregate amount established under subdivision (c)(2) of this section, the sports pool shall cease accepting wagers and making payouts on the parlay card.
   2. (B) After the outcome of the final game, match, or event covered by the parlay card has been determined, the sports pool shall pay each winner at least that proportion of the payout amount stated on the parlay card that the aggregate limit bears to total payouts, including payouts made prior to the suspension of payouts, that would otherwise have been made but for the limit.
4. (4) When a book ceases accepting wagers and making payouts on a parlay card under subdivision (c)(3) of this section, the book may accept wagers on the parlay card on those propositions whose outcomes have not been determined if the parlay card, patron receipts, and related documentation are distinguishable from the card, receipts, and documentation as to which the book has ceased accepting wagers, in which case the parlay card shall be considered a different parlay card for purposes of this subsection.
5. (5) If a book pays the winner of a parlay card wager more than ten percent (10%) of the base amount established under subdivision (c)(2) of this section before the outcome of every proposition offered by the parlay card has been determined, the book must pay every winner of a wager on that parlay card the proper payout amount stated on the parlay card in full and without regard to any aggregate limit established under subdivision (c)(2) of this section.
6. (6) In specific cases the Arkansas Racing Commission may waive or impose requirements more restrictive than the requirements of this subsection.