2014 Kentucky Revised Statutes CHAPTER 230 - HORSE RACING AND SHOWING 230.3615 Limitation on commission of operator of Thoroughbred race track -- Breaks -- Payment for backside improvement fund.
Download as PDF
230.3615 Limitation on commission of operator of Thoroughbred race track -Breaks -- Payment for backside improvement fund.
(1)
(2)
(3)
(4)
The commission, including the tax levied in KRS 138.510, deducted from the
gross amount wagered by the association which operates a race track under
the jurisdiction of the Kentucky Horse Racing Commission and conducts the
Thoroughbred racing at which betting is conducted through a pari-mutuel or
other similar system, in races where the patron is required to select one (1)
horse, and the breaks, which breaks shall be made and calculated to the dime,
shall not be more than sixteen percent (16%) at the discretion of those tracks
averaging over one million two hundred thousand dollars ($1,200,000) in
on-track pari-mutuel handle per day of live racing conducted by the
association. The commission at those tracks averaging one million two hundred
thousand dollars ($1,200,000) or less in on-track pari-mutuel handle per day of
live racing conducted by the association, at the discretion of such track, shall
not be more than seventeen and one-half percent (17.5%) in races where the
patron is required to select one (1) horse, and the breaks, which breaks shall
be made and calculated to the dime.
The commission at those tracks averaging over one million two hundred
thousand dollars ($1,200,000) in on track pari-mutuel handle per day of live
racing conducted by the association, including the tax levied in KRS 138.510,
deducted from the gross amount wagered by the person, corporation, or
association which operates a race track under the jurisdiction of the Kentucky
Horse Racing Commission and conducts Thoroughbred racing at which betting
is conducted through a pari-mutuel or other similar system shall not exceed
nineteen percent (19%) of the gross handle in races where the patron is
required to select two (2) or more horses, and the breaks, which breaks shall
be made and calculated to the dime. The commission, at those tracks
averaging one million two hundred thousand dollars ($1,200,000) or less in on
track pari-mutuel handle per day of live racing conducted by the association,
including the tax levied in KRS 138.510, deducted from the gross amount
wagered by the association which operates a race track under the jurisdiction
of the Kentucky Horse Racing Commission and conducts Thoroughbred racing
at which betting is conducted through a pari-mutuel or other similar system
shall not exceed twenty-two percent (22%) of the gross handle in races where
the patron is required to select two (2) or more horses, and the breaks, which
breaks shall be made and calculated to the dime.
The minimum wager to be accepted by any licensed association shall be ten
cents ($0.10). The minimum pay-off on a one dollar ($1) wager shall be one
dollar and ten cents ($1.10); but, in the event of a minus pool, the minimum
pay-off for a one dollar ($1) wager shall be one dollar and five cents ($1.05).
Each association conducting Thoroughbred racing and averaging one million
two hundred thousand dollars ($1,200,000) or less in on-track pari-mutuel
handle per day of live racing conducted by the association shall pay to the
racing commission all moneys allocated to the backside improvement fund in
an amount equal to one-half of one percent (0.5%) of its on-track pari-mutuel
wagers.
Effective:July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 461, effective July 15, 2010. -Amended 2009 Ky. Acts ch. 80, sec. 9, effective June 25, 2009. -- Amended
2004 Ky. Acts ch. 191, sec. 17, effective July 13, 2004. -- Repealed, reenacted,
and amended 1992 Ky. Acts ch. 109, sec. 8, effective March 30, 1992. -Amended 1990 Ky. Acts ch. 159, sec. 3, effective July 13, 1990. -- Amended
1986 Ky. Acts ch. 214, sec. 1, effective July 15, 1986; and ch. 296, sec. 2,
effective July 15, 1986. -- Amended 1980 Ky. Acts ch. 343, sec. 1, effective July
15, 1980. -- Amended 1976 Ky. Acts ch. 343, sec. 2, effective June 17, 1978. -Amended 1970 Ky. Acts ch. 258, sec. 1. -- Amended 1956 Ky. Acts ch. 13,
sec. 1. -- Amended 1954 Ky. Acts ch. 76, sec. 1. -- Created 1948 Ky. Acts
ch. 35, sec. 1.
Formerly codified as KRS 138.515.
Disclaimer: These codes may not be the most recent version. Kentucky may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.