§ 904 — On-track wagers on the Kentucky Derby, the Preakness and the Breeders' Cup

New York § 904

• Jurisdiction: New York
• Law PML: Racing, Pari-Mutuel Wagering and Breeding Law
• Art. 9: Miscellaneous

Text

§ 904. On-track wagers on the Kentucky Derby, the Preakness and the\nBreeders' Cup. 1. Notwithstanding any inconsistent provision of this\nchapter, whenever a regional off-track betting corporation accepts\nwagers on and displays the simulcast of the Kentucky Derby, the\nPreakness or races known as the "Breeders' Cup", any corporation or\nassociation conducting pari-mutuel betting pursuant to this chapter may\nelect to accept wagers on and display the simulcast of the Kentucky\nDerby, the Preakness and the races known as the Breeders' Cup. Upon such\nelection:\n a. The applicable state tax provided for in paragraphs a and b of\nsubdivision one of section five hundred twenty-seven of this chapter\nshall be one-half percent for regular, multiple and exotic bets. Any\nharness racing or association or corporation, or thoroughbred racing\ncorporation authorized pursuant to this section shall pay to the\ncommission as a regulatory fee, which fee is hereby levied, six-tenths\nof one percent of the total daily pari-mutuel pools.\n b. The system of on and off-track betting shall result in the\ncombination of all off-track wagers with on-track wagers so as to\nproduce common pari-mutuel betting pools. Provided, however, that the\ncommission may authorize separate pari-mutuel wagering pools for any\ncorporation or association electing to accept such wagers, if the\ncommission determines that a common on and off-track pari-mutuel betting\npool, due to limitations in existing computer systems and information\ntransmission and receiving capacities cannot practically be accomplished\nso as to maximize a reasonable number of separate wagering interests.\nThe resulting separate pools for regional off-track betting corporations\nshall be subject to the limitations set forth in subdivision eight of\nsection five hundred twenty-three of this chapter.\n c. Every association and corporation shall distribute all sums\ndeposited in any pari-mutuel pool to the holders of winning tickets\ntherein, providing such tickets be presented for payment before April\nfirst of the year following the year of their purchase, less an amount\nthat it shall retain at the same rate established by the sending track\nplus the breaks.\n d. For a franchised corporation, the applicable state tax and\ndistributions to purses and the New York state thoroughbred breeding and\ndevelopment fund shall be the same amounts as provided in section two\nhundred thirty-eight of this chapter provided, however, that upon\nelection of any corporation to accept such wagers, no additional amounts\nmay be withheld as provided in section two hundred thirty-seven of this\nchapter.\n e. For any corporation licensed pursuant to article two of this\nchapter, the applicable state tax shall be one percent of all wagers,\nthe amount payable to the thoroughbred breeding and development fund\nshall be one-half of one percent and distribution to purses shall be\nfifty percent of the amount retained by the track after all statutory\nand contracted payments are made. No additional amounts may be withheld\nas provided in section two hundred thirty-seven of this chapter.\n f. For any association or corporation licensed pursuant to article\nthree of this chapter, the applicable state tax shall be one percent of\nall wagers, the amount payable to the thoroughbred breeding and\ndevelopment fund shall be one-half of one percent and distributions to\npurses shall be one and three-quarters percent. No additional amounts\nmay be withheld as provided in section three hundred nineteen of this\nchapter. For the purposes of purse distributions, any association or\ncorporation located in the Western Off-Track Betting Region shall remit\nsaid distributions to the thoroughbred track located within said region\nand all other corporations or associations shall remit said purse\ndistributions to a franchised corporation.\n Notwithstanding any other provision of law, any such association or\ncorporation conducting pari-mutuel wagering on races run by a franchised\ncorporation on the days when they are accepting wagers on the Kentucky\nDerby, the Preakness or the Breeders' Cup shall pay a state pari-mutuel\ntax of one percent of all such wagers in lieu of the tax imposed by\nparagraph a of subdivision three of section one thousand seven of this\nchapter.\n 2. The commission shall approve an application from any racing\ncorporation or association pursuant to subdivision one of this section\nto accept on-track wagers and display the simulcast of the Kentucky\nDerby or the Preakness provided, however, that no application shall be\napproved by the board that it determines may cause a reduction of the\ntotal number of racing events normally conducted at the track on a daily\nbasis.\n 2-a. The commission shall approve an application from any racing\ncorporation or association pursuant to subdivision one of this section\nto accept on-track wagers on the Breeders' Cup races, and, in instances\nwhere the application contemplates the on-track display of simulcasts of\nand wagering on the entire card of Breeders' Cup races, the commission\nshall authorize, for that day, a reduction of the total number of racing\nevents normally conducted at the track on a daily basis provided that\nthe total number of live racing events conducted at the track shall not\nbe less than two.\n 3. Every racing association or corporation authorized to accept wagers\non the Kentucky Derby, the Preakness or the Breeders' Cup pursuant to\nsubdivision one of this section shall be subject to all appropriate\nprovisions of this chapter pursuant to the conduct of a race meeting by\nsuch association or corporation.\n 4. Notwithstanding any other provision of law, whenever a harness\nracing association or corporation is receiving the simulcast of races\nrun at a thoroughbred racing corporation, such harness racing\nassociation may also receive the telecast of and accept wagers on any\nout of state races which are telecast to the thoroughbred racing\ncorporation. Pools resulting from wagers in the out of state races shall\nbe combined with the appropriate pools resulting from wagers on such\nraces at the thoroughbred racing corporation.\n