Conduct of off-track pari-mutuel sports wagering
Arkansas Constitution, Amendment 100, sec. 4
- (a) Off-track pari-mutuel sports wagering may be conducted only at a pari-mutuel sports book.
- (b) A pari-mutuel sports book shall comply with the provisions of this part.
(c)
- (1) A pari-mutuel sports book shall not accept off-track pari-mutuel sports wagers after post time.
- (2) Off-track pari-mutuel sports wagers become final at the start of the sporting event or other event.
- (d) A pari-mutuel sports book shall conspicuously display, at periodic intervals to be determined by the Arkansas Racing Commission, both the aggregate amount of off-track pari-mutuel sports wagers accepted and the odds for each sporting event or other event on which off-track pari-mutuel sports wagering is being conducted.
- (e) A pari-mutuel sports book shall pay winning off-track pari-mutuel sports wagers in accordance with the pari-mutuel payoff on the off-track pari-mutuel sports wagers accepted on a sporting event or other event, irrespective of whether all wagering information from all pari-mutuel sports books actually was included in the common pari-mutuel pool.
- (f) A pari-mutuel sports book shall return at least one dollar and five cents ($1.05) for each winning dollar wagered.
- (g) The pari-mutuel sports books shall be jointly responsible for any deficiencies and shall share in any excesses resulting from the requirements of subsections (e) and (f) of this section.
- (h) A pari-mutuel sports book shall not pay any systems operator or any other pari-mutuel sports book any compensation for the right to be part of a common pari-mutuel pool unless the agreement setting forth the terms of the compensation has been approved pursuant to 23 CAR § 358-2314.
(i)
- (1) A pari-mutuel sports book shall adopt, conspicuously display, and adhere to written house rules governing off-track pari-mutuel sports wagering transactions with patrons.
- (2) Prior to adopting or amending such house rules, a pari-mutuel sports book shall submit the rules to the commission for the commission’s approval.
(j)
- (1) A pari-mutuel sports book shall allow a patron to cash an outstanding off-track pari-mutuel sports wagering ticket for at least thirty (30) days from the date the sporting event is concluded.
- (2) A ticket which is not redeemed within such time becomes valueless, unless the time period is extended by the licensee, and the sum of money represented by the ticket shall then accrue to the issuing licensee.