The bill amends existing laws related to pari-mutuel wagering in Wyoming by introducing a new definition for "breakage" and specifying the distribution of breakage amounts from historic pari-mutuel events. Specifically, it defines "breakage" 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. It mandates that, in addition to paying a percentage of the total amount wagered on historic and live events, permittees must also pay an amount equal to the breakage on historic pari-mutuel events. This breakage amount will be retained and credited to a separate account by the state treasurer. The act is set to take effect on July 1, 2025.

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