US Laws, Codes, Statutes & Cases

 
    *  §  903.  On-track  wagers  on the Kentucky Derby, the Preakness and
  Event Day Cup Races. 1. Notwithstanding any  inconsistent  provision  of
  this  chapter, whenever a regional off-track betting corporation accepts
  wagers on the Kentucky Derby, the Preakness or the Event Day Cup  Races,
  sponsored  by  the  Breeders Cup Ltd., any corporation or association or
  non-profit racing association conducting pari-mutuel betting pursuant to
  section two hundred twenty-three or section two hundred  twenty-four  of
  this  chapter  may  elect  to  accept  wagers on the Kentucky Derby, the
  Preakness or such Event Day Cup Races  as  on-track  wagers.  Upon  such
  election:
    a.  The  applicable  state  tax  provided for in paragraphs a and b of
  subdivision one of section five hundred  twenty-seven  of  this  chapter
  shall be one-half per centum for regular, multiple and exotic bets.
    b.  The  system  of  on  and  off-track  betting  shall  result in the
  combination of all off-track  wagers  with  on-track  wagers  so  as  to
  produce common pari-mutuel betting pools for the calculation of odds and
  the  determination of payouts from such pool, which payout, prior to the
  computations  required  by  section  five  hundred  thirty-two  of  this
  chapter,  shall  be  the  same  for all winning tickets, irrespective of
  whether a wager is placed off-track or on-track.
    c. Every association or corporation,  non-profit  racing  association,
  and  regional  off-track  betting  corporation shall distribute all sums
  deposited in any pari-mutuel pool to  the  holders  of  winning  tickets
  therein,  providing  such  tickets be presented for payment before April
  first of the year following the year of their purchase,  less  seventeen
  per  centum  of  the total deposits in pools resulting from regular bets
  and multiple bets and less twenty-five per centum of the total  deposits
  in pools resulting from exotic bets, plus the breaks.
    d.  Except  as  provided  in  paragraph  a  of  this  subdivision, the
  applicable state tax and distributions to purses and the New York  state
  thoroughbred  breeding and development fund shall be the same amounts as
  provided in sections two hundred twenty-eight, two  hundred  twenty-nine
  and  five  hundred  twenty-seven of this chapter provided, however, that
  upon election of any corporation or association to accept  such  wagers,
  no additional amounts may be withheld as provided in section two hundred
  twenty-eight-a of this chapter.
    e.  Any  advertising,  promotion  or  marketing  by any association or
  corporation, nonprofit racing association, or regional off-track betting
  corporation of the fact that it will be accepting wagers on the Kentucky
  Derby, the Preakness, or one or more such Event Day Cup  Races  pursuant
  to  this  subdivision,  shall  include  information  as to the fact that
  wagers on such race are being accepted by both such  racing  association
  or  corporation  or  regional  off-track betting corporation and by such
  other  racing  association  or   corporation,   or   off-track   betting
  corporation  as  is  also accepting wagers on the same event in the same
  off-track betting region, provided however that such  requirement  shall
  not  apply  in  any media market in which the board determines that such
  disclosure is not necessary or appropriate.
    2. The state racing and wagering board shall  approve  an  application
  from   any  racing  corporation  or  association  or  non-profit  racing
  association pursuant to  subdivision  one  of  this  section  to  accept
  on-track  wagers  on the Kentucky Derby, the Preakness or such Event Day
  Cup Races provided, however, that no application shall  be  approved  by
  the  board  that it determines may cause a reduction of the total number
  of racing events normally conducted at the track on a  daily  basis.  3.
  Every racing association or corporation or non-profit racing association
  authorized to accept wagers on the Kentucky Derby, the Preakness or such
  Event Day Cup Races pursuant to subdivision one of this section shall be
  subject  to  all  appropriate provisions of this chapter pursuant to the
  conduct of  a  race  meeting  by  such  association  or  corporation  or
  non-profit racing association.
    * NB Expired December 31, 1984