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, which specifies it as the odd cents by which the amount distributable on each dollar wagered exceeds a multiple of ten cents. Additionally, the bill outlines the responsibilities 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 financial obligations of permittees by removing certain previous requirements and adding new ones. Specifically, it deletes the requirement for permittees to pay a quarter percent of total wagers attributable to historic events to the legislative stabilization reserve account and instead includes a new obligation to pay the breakage amount to this account. The act is set to take effect on July 1, 2025.

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