§ 3A-205.8 — National Breeders' Cup - Pick seven wagers -

Apportionment of wagered funds. A. Pursuant to rules and regulations of the Oklahoma Horse Racing Commission, an organization licensee shall be permitted to conduct a National Breeders' Cup pick seven. B. Any organization licensee authorized by the Commission to accept wagers on the results of the National Breeders' Cup races shall apportion all money wagered on pick seven wagers as follows: 1. Seven percent (7%) shall be remitted to the Oklahoma Tax Commission on the first business day following the close of the racing day on which it was assessed. The revenue shall be apportioned monthly to the General Revenue Fund of the state for the support of the state government, to be paid out only pursuant to appropriation by the Legislature; 2. Ten percent (10%) shall be retained by the organization licensee; 3. Eight percent (8%) shall be retained by the organization licensee to be distributed as purses; and 4. Seventy-five percent (75%) shall be placed in a separate pari-mutuel pool but shall be commingled with other states' pick seven wager pari-mutuel pools as governed by rules set forth by the Commission.

Legislative History

Added by Laws 1991, c. 269, § 5, eff. July 1, 1991.