Oregon Statutes 462.142 – Account wagering
(1) In addition to mutuel wagering otherwise authorized by this chapter, account wagering may be conducted upon such conditions as the Oregon Racing Commission determines appropriate. The commission may authorize only a race meet licensee who is the holder of a license issued under ORS § 462.057, 462.062 or 462.067 to conduct account wagering.
Terms Used In Oregon Statutes 462.142
- Commission: means the Oregon Racing Commission. See Oregon Statutes 462.010
- Licensee: means a person, partnership, corporation, political subdivision, municipal corporation or any other body holding a license under this chapter. See Oregon Statutes 462.010
- Mutuel: means a system whereby:
(a) Wagers with respect to the outcome of a race are placed with a wagering pool in which the participants are not wagering against the operator; and
(b) The operator distributes to one or more winning participants the total amount in the wagering pool, less amounts deducted by the operator as approved by the commission. See Oregon Statutes 462.010
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
- Race: includes races conducted without wagering, provided one or more races in the meet are conducted with wagering. See Oregon Statutes 462.010
- Race course: means all the premises used in connection with the conduct of a race meet, including but not limited to, the race track, grandstands, paddock, stables, kennels and all other buildings and grounds adjacent to or appurtenant to the physical limits of the race track. See Oregon Statutes 462.010
- Race meet: means any exhibition of animal racing where the mutuel system is used in conjunction with any race. See Oregon Statutes 462.010
(2) As used in this section, ‘account wagering’ means a form of mutuel wagering in which an individual may deposit money in an account with a race meet licensee and then use the account balance to pay for mutuel wagering conducted by the licensee. An account wager must be made in person by the holder of the account at the race course. [1997 c.865 § 15; 2011 c.176 § 2]