La. Admin. Code tit. 35 § XV-12705
Current through Register Vol. 50, No. 8, August 20, 2024
Section XV-12705 - Guest State Participation in Interstate Common PoolsA. With the prior approval of the commission, pari-mutuel wagering pools in this state may be combined with comparable wagering pools in the host state, or with comparable pools established by one or more other jurisdictions where wagering is authorized by law.B. The commission may permit adjustment of the takeout rate from pari-mutuel pools so that the takeout rate in this state is identical to that at the host track, or identical to that of other jurisdictions participating in a merged pool.C. Where takeout rates in the merged pool are not identical, the commission shall approve the method by which the differing takeout rates shall be applied.D. Rules of racing governing the race in the host state shall apply to the merged pool unless the commission shall have specifically determined otherwise.E. Provisions governing the calculation of breakage under the Rules of Racing in this state may be waived as to wagers in interstate common pools. The commission may approve agreements between the licensee and other participants in interstate common pools governing the equitable distribution of breakage between the host and guest state, unless and to the extent otherwise provided by law.F. If for any reason it becomes impossible to successfully merge the pari-mutuel wagers placed in this state into the interstate common pool, the licensee shall declare such accepted bets void and make refunds in accordance with the provisions of §12341 of this Part.La. Admin. Code tit. 35, § XV-12705
Promulgated by the Department of Economic Development, Racing Commission, LR 17:259 (March 1991).AUTHORITY NOTE: Promulgated in accordance with R.S. 4:141, R.S. 4:148 and R.S. 4:211-227.