Bill Text: NY A07840 | 2021-2022 | General Assembly | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Specifies who can operate a handicapping tournament; requires handicapping tournament operators to distribute no less than eighty percent of entry fees as prizes to the winners of a handicapping tournament.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2022-09-09 - print number 7840a [A07840 Detail]

Download: New_York-2021-A07840-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          7840

                               2021-2022 Regular Sessions

                   IN ASSEMBLY

                                      May 27, 2021
                                       ___________

        Introduced  by M. of A. PRETLOW -- read once and referred to the Commit-
          tee on Racing and Wagering

        AN ACT to amend the racing, pari-mutuel wagering and  breeding  law,  in
          relation  to handicapping tournaments for multi-jurisdictional account
          wagering providers

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section  1. Section 906 of the racing, pari-mutuel wagering and breed-
     2  ing law, as added by chapter 2 of the laws of 1995,  and  as  renumbered
     3  and  subdivision  1  as  amended  by chapter 18 of the laws of 2008, and
     4  paragraph (b) of subdivision 2 as amended by chapter 243 of the laws  of
     5  2020, is amended to read as follows:
     6    §   906.   Handicapping  tournaments.  1.  Notwithstanding  any  other
     7  provision of law, a thoroughbred racing corporation,  a  harness  racing
     8  corporation  or association, a regional off-track betting corporation or
     9  a combination thereof, a multi-jurisdictional account wagering  provider
    10  or  a  party  that  contracts  with  any of the foregoing, may operate a
    11  handicapping tournament at which the  participants  may  be  charged  an
    12  entry  fee  if  the  tournament  is  conducted  in  accordance  with the
    13  provisions of this section.
    14    2. (a) The operator of a handicapping tournament shall  distribute  no
    15  less  than  eighty  percent  of  all  of the entry fees as prizes to the
    16  winners of the tournament. Nothing herein  shall  preclude  an  operator
    17  from providing additional prizes or promotions.
    18    (b)  The  commission shall approve the rules and the payment of prizes
    19  of a handicapping tournament. No operator of a  handicapping  tournament
    20  may  accept  an  entry  fee  for  a  tournament until the commission has
    21  approved the rules and the payment of prizes of a  handicapping  tourna-
    22  ment.
    23    (c)  The  horse  races which are the subject of the tournament must be
    24  races on which the operator of the tournament is authorized  to  conduct

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11686-01-1
        A. 7840                             2

     1  wagering.  [At least fifty percent of the races which are the subject of
     2  the tournament must be races run in New York state.]
     3    3.   A   handicapping  tournament  operated  in  accordance  with  the
     4  provisions of this section shall be considered a contest  of  skill  and
     5  shall not be considered gambling.
     6    4.  Any  handicapping tournament entry fee conducted by a multi-juris-
     7  dictional account wagering provider shall be subject to  the  provisions
     8  of subdivision six of section one thousand twelve-a of this chapter.
     9    § 2. This act shall take effect immediately.