Louisiana Revised Statutes Tit. 4, § 166.7. Exotic wagering; allocation of proceeds during and for a race meeting; concurrence required

A. Notwithstanding any provision of this Chapter to the contrary, during and for any race meeting, the commission, with the concurrence of the association conducting the race meeting and the Horsemen's Benevolent and Protective Association, may provide that the takeout deducted from pick-three, pick-four, pick-five, pick-six, and pick (n) wagers is an amount of not less than twelve percent and not more than twenty-five percent. Absent such an agreement, the takeout shall remain at twenty-five percent.

B. For the purposes of this Part, “pick (n)” means a form of pari-mutuel wagering where “(n)” is a varying number of races exceeding three races. Bettors select the first horse in each of (n) consecutive races designated as the pick (n) by the permit holder. The sale of pick (n) tickets other than from pari-mutuel machines shall be deemed illegal and is prohibited.