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

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

House Committee on Commerce & Labor
Senate Committee on Labor, Commerce, Research & Development

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.

Some jurisdictions require their breakage to be applied to simulcast wagering by their residents at tracks of other jurisdictions.

Summary:

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

Votes on Final Passage:

House   95   0
Senate   46   1

Effective: June 12, 2008