HB 1068 Summary

• Amends North Dakota Century Code sections 53-06.2-10.1 and 53-06.2-11 to regulate simulcast and account wagering conducted by licensed racing organizations.

• Defines account wagering as pari-mutuel wagering where individuals deposit money in an account to pay for wagers, permitted through licensed simulcast service providers approved by the attorney general and authorized by the racing commission.

• Establishes different payout formulas for live horse racing, simulcast wagering, and account wagering, with account wagering subject to lower payment percentages (one-sixteenth of one percent versus one-half of one percent for other wagering types).

• Implements a tiered payment system for account wagering effective after July 1, 2013, where higher percentages apply before $11 million in biennial pari-mutuel wagering is reached, then lower percentages apply afterward.

• Allocates unclaimed ticket amounts and breakage from the first $20 million wagered annually to the racing promotion fund, breeders' fund, and purse fund administered by the North Dakota Racing Commission.