SEARCH SITE

VIRGINIA LAW PORTAL

SEARCHABLE DATABASES

ACROSS SESSIONS

Developed and maintained by the Division of Legislative Automated Systems.

2011 SESSION

  • | print version

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

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

SUMMARY AS PASSED:

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.

SUMMARY AS PASSED HOUSE:

Virginia Racing Commission; restricted wagering facilities authorized; penalty.  The bill provides a heightened penalty for illegal wagering on horse racing and allows the Racing Commission as jointly requested by a recognized horseman's group and an unlimited licensee to set the percentage retainage for winning bets.  The bill also increases for wagers places 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.

SUMMARY AS INTRODUCED:

Virginia Racing Commission; restricted wagering facilities authorized; penalty.  Permits, under certain conditions, pari-mutuel wagering on simulcast horse races at restricted wagering facilities. The bill defines restricted wagering facilities, sets the criteria for licensure of these facilities, and provides for the allocation of the proceeds from such pari-mutuel wagering at these facilities. The bill defines illegal wagering on horse racing and specifies the penalty for same. The bill also contains technical amendments.