State Codes and Statutes
Statutes > Vermont > Title-31 > Chapter-13 > 615
§ 615. Pari-mutuel pools
(a) Within the enclosure of any race track where is held a race or race meet licensed and conducted under this chapter, and within the enclosure of any place wherein a licensee licensed under this chapter to hold and conduct races or race meets is authorized by the commission to simulcast races or race meets, but not elsewhere, the sale of pari-mutuel pools by the licensee is permitted and authorized under such regulations as may be prescribed by the commission. Commissions on the flat racing pool shall not exceed 18 percent of each dollar wagered except commissions on the flat racing pool from racing conducted on Sundays shall not exceed 19 percent of each dollar wagered. Except for state agricultural fair associations, commissions on the harness racing pools shall not exceed 19 percent of each dollar wagered except commissions on the harness racing pools from racing conducted on Sundays shall not exceed 20 percent of each dollar wagered and commissions on each harness racing trifecta pool shall not exceed 25 percent. For state agricultural fair associations, commissions on the harness racing pools shall not exceed 20 percent of each dollar wagered on win, place and show wagering and commissions on all other forms of wagering shall not exceed 25 percent. Commissions on the simulcast racing pools shall not exceed 20 percent of each dollar wagered on win, place and show wagering and shall not exceed 25 percent of each dollar wagered on all other forms of wagering from racing or simulcasting conducted on all days.
(b) The odd cents of all redistribution to be based on each dollar wagered exceeding a sum equal to the next lowest multiple of 10, known as "breakage," shall be paid from all flat, harness, and simulcast racing to the licensee.
(c) From the pari-mutuel pool the racing commission established pursuant to section 602 of this title shall receive the percentage stated below and the licensee shall retain the balance of the pari-mutuel pool commission:
(1) From harness racing, on the total wagered each race day conducted Monday through Saturday:
3% on the first $150,000.00, plus
4% on the amount $150,000.00-$200,000.00 plus
5% on the amount $200,000.00-$250,000.00 plus
6% on the amount $250,000.00-$300,000.00 plus
7% on the amount $300,000.00-$350,000.00 plus
8% on all over $350,000.00
(2) From flat racing, five and one-half percent on the total wagered each race day conducted Monday through Saturday. From simulcast racing, on the total wagered each race day:
2% on the first $50,000.00, plus
2.5% on the amount $50,000.00-$100,000.00 plus
3% on the amount $100,000.00-$150,000.00 plus
4% on the amount $150,000.00-$200,000.00 plus
5% on the amount $200,000.00-$250,000.00 plus
6% on the amount $250,000.00-$300,000.00 plus
7% on the amount $300,000.00-$350,000.00 plus
8% on all over $350,000.00
(3) From harness racing, on the total wagered each race day conducted on Sunday:
4% on the first $150,000.00, plus
5% on the amount $150,000.00-$200,000.00 plus
6% on the amount $200,000.00-$250,000.00 plus
7% on the amount $250,000.00-$300,000.00 plus
8% on the amount over $300,000.00
(4) From flat racing, six and one-half percent on the total wagered each race day conducted on Sunday. From simulcast racing, in addition to the percentages of the total wagered as provided above, on the total wagered on all days on all forms of wagering other than win, place and show wagering: on and after May 30, 1986.
(5) During any calendar year the number of programs which the licensee is licensed by the commission to conduct shall determine the amount of the payments to be made under this section to the racing commission established pursuant to section 602 of this title. If, in any year, the licensee fails to conduct the full number of licensed programs, any payment shortage shall be reimbursed immediately as due. The commission has the duty and authority to make prompt orders, as necessary, to assure reimbursement. The funds received by the racing commission shall be managed pursuant to subchapter 5 of chapter 7 of Title 32, and shall be available to the racing commission to offset the costs of providing its services.
(d) [Repealed.] (Added 1959, No. 259, § 11; amended 1965, No. 15, § 1, eff. March 25, 1965; 1967, No. 23, § 2, eff. March 3, 1967; 1967, No. 336 (Adj. Sess.), § 3, eff. March 23, 1968; 1969, No. 137, § 4, eff. April 23, 1969; 1973, No. 233 (Adj. Sess.), § 7, eff. April 3, 1974; 1977, No. 60, § 1, eff. April 23, 1977; 1979, No. 52, § 1; 1981, No. 35, § 1; No. 45, § 1, eff. April 22, 1981; 1983, No. 40,§§ 1, 2, eff. April 19, 1983; 1985, No. 200 (Adj. Sess.), § 3, eff. May 30, 1986; 1991, No. 136 (Adj. Sess.), § 2(a), eff. April 23, 1992; 1995, No. 12, § 8, eff. April 5, 1995; 1997, No. 2, § 17b, eff. Feb. 12, 1997.)
