N.Y. Comp. Codes R. & Regs. tit. 9 § 4122.15

Current through Register Vol. 46, No. 45, November 2, 2024

Section 4122.15 - Payments

(a) Payments due on all wagers shall be made in conformity with well-established practice of the pari-mutuel system. The practice is to work in dollars and not in the number of tickets. Money wagered on winning tickets is returned in full plus the profits. In all cases of a winning mutuel pool, each association must redistribute not less than $1.05 on each $1 wager and $2.10 on each $2 wager.

(b) Payments on all winning pari-mutuel tickets and tickets refundable according to rules shall be made only on presentation and surrender of appropriate ticket. Mutilated tickets and those whose validity are questioned shall be submitted to the New York State Tax Commission for inspection.

(c) In the discretion of management or by direction of the commission, payments may be made by cash or check to the holder of a winning pari-mutuel ticket from whom identification may be required.

N.Y. Comp. Codes R. & Regs. Tit. 9 § 4122.15