La. Admin. Code tit. 35 § XIII-10367
Current through Register Vol. 50, No. 9, September 20, 2024
Section XIII-10367 - Method of PaymentsA. Payments due on all wagers shall be made in conformity with the well-established practice of the pari-mutuel system. Money wagered on winning tickets is returned in full plus the profits. The practice is to work in dollars and not in number of tickets. The break permitted by law is deducted in all of the calculations which are necessary to arrive at the payoff prices, i.e., the odd cents over any multiple of $0.10 of winnings per dollar wagered, except in the case of a minus pool, as provided in §10365La. Admin. Code tit. 35, § XIII-10367
Adopted by the Racing Commission in 1971, promulgated by the Department of Commerce, Racing Commission, LR 2:441 (December 1976), amended LR 3:37 (January 1977), LR 4:282 (August 1978), amended by the Department of Economic Development, Racing Commission, LR 23:709 (June 1997).AUTHORITY NOTE: Promulgated in accordance with R.S. 4:149, R.S. 4:166 and R.S. 4:166.3.