The bill amends existing laws related to pari-mutuel wagering in Wyoming by introducing a new definition for "breakage," which is defined as the odd cents on any sum otherwise distributable in a pari-mutuel pool. This new definition is added to the existing definitions in W.S. 11-25-102(a) as paragraph (xxiii).

Additionally, the bill modifies the requirements for permittees following pari-mutuel events. Specifically, it mandates that permittees pay an amount equal to one-quarter percent of the total amount wagered on historic pari-mutuel events, along with one and one-half percent of the total amount wagered on live events. Furthermore, it requires the payment of the breakage amount from historic pari-mutuel events to be credited to a separate account managed by the state treasurer. The act is set to take effect on July 1, 2025.

Statutes affected:
Introduced: 11-25-102, 11-25-201