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2011 SESSION

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HB 1832 Virginia Racing Commission; authorized restricted wagering facilities, penalty.

Introduced by: Edward T. Scott | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Virginia Racing Commission; powers and duties; retainage; illegal wagering on horse racing; penalty.  Removes the specific percentage on pari-mutuel pools by the licensee and allows the Commission to approve an amount to be so retained as jointly requested by a recognized majority horseman's group and an unlimited licensee.  The bill also (i) increases, for wagers placed on simulcast horse races outside of Virginia, the retainage of one and thirty one-hundredths percent of the pool, with five one-hundredths to be distributed to the Virginia Thoroughbred Association for the promotion of breeding in Virginia, and (ii) provides a heightened penalty for illegal wagering on horse racing.  In addition, the bill provides that the Commission shall not issue a license to, and shall revoke the license of, an entity that withholds the sale at fair market value to an unlimited licensee of simulcast horse racing signals that such entity sells to other racetracks, satellite facilities, or advance deposit account wagering providers located in or outside of the Commonwealth.


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