8.22.2914    TOTE COMPANIES

(1) Tote companies must provide state of the art parimutuel equipment and tote at each licensed track that they service.

(2) Tote companies must provide correct and complete betting odds, race results and payoff prices for each race at which wagering is permitted.

(3) Tote companies must:

(a) accept all wagers as outlined in this subchapter;

(b) pay all winners according to calculated payoff procedures;

(c) account for all monies wagered and paid out;

(d) withhold all funds set aside by statute and contracts;

(e) deliver those funds each day to the licensee to be redistributed to the proper parties;

(f) publish daily a complete summary of all wagering pools, all payoffs, breakage, overpayments and short payments.

(4) All officers and employees of tote companies must be licensed before entering grounds of a race meet.

History: 23-4-104, MCA; IMP, 23-4-104, MCA; NEW, 1990 MAR p. 1891, Eff. 10/12/90; TRANS & AMD, from Dept. of Commerce, 2002 MAR p. 1500, Eff. 5/17/02; TRANS, from 32.28.714, 2015 MAR p. 2252, Eff. 12/25/15.