This bill amends existing laws related to pari-mutuel wagering in Wyoming by introducing a new definition for "breakage" and outlining the distribution of breakage amounts from historic pari-mutuel events. Specifically, the bill defines "breakage" as the odd cents by which the amount distributable on each dollar wagered exceeds a multiple of ten cents. Additionally, it mandates that permittees pay an amount equal to the breakage on historic pari-mutuel events to the legislative stabilization reserve account, alongside other financial obligations related to wagering.

Furthermore, the bill modifies the reporting and payment requirements for permittees following pari-mutuel events. It specifies that permittees must file reports detailing the total amount wagered and pay a percentage of that amount to various accounts, including a new provision for the breakage amounts. The act is set to take effect on July 1, 2025, ensuring that the new regulations are implemented in a timely manner.

Statutes affected:
25LSO-0053 v0.4: 11-25-102, 11-25-201