Richard Nelson voted Yea (Passage) on this Legislation.
Title: Authorizes Fixed-Odds Bets on Horse Racing
Title: Authorizes Fixed-Odds Bets on Horse Racing
Vote to pass a bill that authorizes casinos to offer fixed-odds betting for horse racing.
Authorizes changes to present gambling laws by allowing the gambling board to issue permits to conduct wagering at licensed locations (Sec. 1).
Specifies that licensed sports operators must promulgate rules and regulations concerning wagering at licensed locations (Sec. 1).
Specifies that the new rules changes apply to fixed-odds horse betting (Sec. 1).
Specifies that the racehorse wagering operator must provide 15% of their audited net profits to the licensed racing organization (Sec. 1).
Defines Audited net profits as gross revenue minus promotions of not more than 25% of gross revenue, state taxes, and fixed-odds content or distribution fees of not more than three percent of gross revenue (Sec. 1).
Title: Authorizes Fixed-Odds Bets on Horse Racing