HOUSE BILL REPORT
HB 2792

This analysis was prepared by non-partisan legislative staff for the use of legislative members in their deliberations. This analysis is not a part of the legislation nor does it constitute a statement of legislative intent.

As Passed House:
February 18, 2008

Title: An act relating to computing breaks in the parimutuel system.

Brief Description: Relating to computing breaks in the parimutuel system.

Sponsors: By Representatives Wood, Condotta, Grant, Conway and Quall.

Brief History:

Commerce & Labor: 1/25/08 [DP].

Floor Activity:

Passed House: 2/18/08, 95-0.

Brief Summary of Bill
  • Changes the "break" for purposes of rounding the payoff in horse racing wagers from exactly 10 cents to no more than 10 cents.

HOUSE COMMITTEE ON COMMERCE & LABOR

Majority Report: Do pass. Signed by 7 members: Representatives Conway, Chair; Wood, Vice Chair; Condotta, Ranking Minority Member; Chandler, Assistant Ranking Minority Member; Green, Moeller and Williams.

Staff: Joan Elgee (786-7106).

Background:

For purposes of payoffs on horse racing, the "break" specifies at what point the payoff is rounded down so the track does not pay on the exact penny of the final odds. Washington law specifies the break at 10 cents. For example, a payoff of $2.38 becomes $2.30. It is a violation of the horse racing laws for a licensee to compute a break at other than exactly 10 cents.

Canadian Provinces require its breakage to be applied to simulcast wagering by its residents at tracks of other jurisdictions.

Summary of Bill:

The break, for purposes of horse racing payoffs, is changed from 10 cents to not more than 10 cents.

Appropriation: None.

Fiscal Note: Not requested.

Effective Date: The bill takes effect 90 days after adjournment of session in which bill is passed.

Staff Summary of Public Testimony:

(In support) This bill helps bring us into the modern world. It will make sure we are complying with the law when calculating breaks for out-of-country wagers and enables Washington bettors to participate in more wagering pools.

(Opposed) None.

Persons Testifying: Representative Wood, prime sponsor; Jim Halstrom, Emerald Downs; and Bob Leichner, Horse Racing Commission.

Persons Signed In To Testify But Not Testifying: None.