La. Admin. Code tit. 35 § XIII-12001

Current through Register Vol. 50, No. 8, August 20, 2024
Section XIII-12001 - Definitions

Account Holder-a person authorized by the licensee to place wagers via account wagering.

Account Wager-a wager placed by means of account wagering.

Account Wagering-a form of pari-mutuel wagering in which an individual may deposit money in an account with a licensee and use the account balance to pay for pari-mutuel wagering authorized by R.S. 4:149.5 to be conducted by the licensee. An account wager may be made by the account holder in person, via telephonic device or by communication through other electronic media.

Account Wagering Center-the facility or facilities for maintaining and administering the account wagering system.

Source Market Area-the circular area within a 55-mile radius of a licensed racing facility and any additional area within which the consent of such facility is required as a prerequisite to the acceptance of off-track wagers by another licensee.

Source Market Commission-all fees or commissions received by any racing association as a result of account wagers being placed with the entity that pays such fee or commission or any entity other than the racing association receiving said fee or commission by persons residing within a defined market area near the racing association and shall include a fee which shall be paid by a licensed racing facility which accepts an account wager to another licensed racing facility whenever the person placing the account wager:

1. resides within the source market area surrounding the latter licensed racing facility; and

2. does not place the wager in person at the facility accepting the wager. The percentage used to calculate the source market commission shall be, with respect to each account wager accepted on a particular day, equal to the highest source market percentage paid on that day to the licensed racing facility within the source market area by any other account wagering carrier located outside of the state.

Wagering Account or Account-the account maintained and administered through an account wagering center for account holders who wish to place account wagers and otherwise participate in account wagering.

La. Admin. Code tit. 35, § XIII-12001

Promulgated by the Department of Economic Development, Racing Commission, LR 27:689 (May 2001).
AUTHORITY NOTE: Promulgated in accordance with R.S. 4:149, R.S. 4:149.1, R.S. 4:149.2 and R.S. 4:149.5.