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Louisiana Revised Statutes Tit. 27, § 612. Fixed odds wagering on horse races

Current as of January 01, 2023 | Updated by Findlaw Staff

A. “Fixed odds wagering on horse races” means the acceptance of sports wagers on a sports event of a live or simulcast horse race with predetermined odds.

B. (1) “Fixed odds wager on horse races” means a sum of money or representation of value risked by a player on an occurrence associated with a sports event involving race horses for which the outcome is uncertain. The term includes single-race bets, teaser bets, moneyline bets, in-race wagering, proposition bets, straight bets, and parlays.

(2) Net gaming proceeds from all fixed odds wagers on horse races, other than parlays, shall be allocated as provided in R.S. 27:625(G)(4)(a)(ii) and shall be credited to the Fixed Odds Horse Wagering Purse Supplement Fund established by R.S. 4:200.

(3) Net gaming proceeds from all fixed odds wagers on horse races, in conjunction with a parlay bet with other sports events, excluding another horse racing event, shall be allocated as provided in R.S. 27:625(G)(4)(a)(i) and shall be credited to the Sports Wagering Purse Supplement Fund established by R.S. 4:199.

C. (1) The licensee or its sports wagering platform may accept fixed odds wagers on horse races conducted out of state, in accordance with the Interstate Horseracing Act of 1978, 15 U.S.C. 3001 et seq.

(2) The licensee or its sports wagering platform may accept fixed odds wagers on horse races conducted in this state after obtaining consent of the host racetrack and the Horsemen's Benevolent and Protective Association.

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Cite this article: FindLaw.com - Louisiana Revised Statutes Tit. 27, § 612. Fixed odds wagering on horse races - last updated January 01, 2023 | https://codes.findlaw.com/la/revised-statutes/la-rev-stat-tit-27-sect-612/

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