The bill amends existing laws related to pari-mutuel wagering in Wyoming, specifically addressing the distribution of breakage amounts from historic pari-mutuel events. A new definition of "breakage" is introduced, defined as the odd cents by which the amount distributable on each dollar wagered exceeds a multiple of ten cents. Additionally, the bill outlines the financial obligations of permittees following pari-mutuel events, including the requirement to pay a percentage of total wagers to various accounts, including a new provision that mandates the payment of breakage amounts from historic pari-mutuel events to the legislative stabilization reserve account.

Furthermore, the bill modifies the existing reporting and payment structure for permittees, ensuring that they report total amounts wagered and allocate funds accordingly. It removes certain previous obligations while adding new ones, such as the requirement to pay an amount equal to the breakage on historic pari-mutuel events to the legislative stabilization reserve account. The act is set to take effect on July 1, 2025.

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