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California CodesBusiness and Professions Code - BPCDivision 8 — Special Business RegulationsChapter 4 — Horse RacingArticle 1 — General Provisions and DefinitionsSection 19411

“Parimutuel wagering” is a form of wagering in which bettors either purchase tickets of various denominations, or issue wagering instructions leading to the placement of wagers, on the outcome of one or more horse races. The association distributes the total wagers comprising each pool, less the amounts retained for purposes specified in this chapter, to winning bettors based on the official race results.

Notes

Defines parimutuel wagering as wagering in which bettors buy tickets in various denominations or issue instructions that result in wagers on one or more horse races. The association distributes each pool's total wagers, less amounts retained for purposes specified in the chapter, to winning bettors according to official race results.

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Lexinter.net | California Code, Business and Professions Code - BPC § 19411 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-8/chapter-4/article-1/section-19411

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