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Virginia Regulatory Town Hall
Agency
Virginia Racing Commission
Board
Virginia Racing Commission
chapter
Regulations Pertaining to Horse Racing With Pari-Mutuel Wagering [11 VAC 10 ‑ 20]
This action is exempt from the executive branch review process.
Action:
Amendment to 10-20-260
 
General Information
Action Summary At the request of the unlimited license holder Colonial Downs, the Virginia Racing Commission has decided to amend the minimum amount for multiple wagering from one dollar to ten cents. This is being done to allow Colonial Downs to offer a ten cent superfecta wager on the live racing held at Colonial Downs. A superfecta is a wager in which the bettor has to pick the first four finishers of a given race. By lowering the minimum amount of this particular wager to ten cents, it allows the bettors to play more combinations for less money which in turn increases the likely hood of having a winning wager. This change has been instituted in other states recently and has had nothing but positive results. The only consideration is that the minimum payout in Virginia for any wager must be the amount of the wager plus a minimum profit of 5%. Since 5% of ten cents is a half of a cent, the Commission also decided to change the wording in the paragraph which deals with minimum payouts to insure that the bettor in Virginia would at least receive a penny for each ten cent wager that is made in the unlikely instance that the profit on a ten cent wager would not be at least one cent. While the odds of this happening are one in million, the Commission wanted to make sure that all of the considerations of this regulation amendment were addressed.
Chapters Affected Only affects this chapter.
Exempt from APA Yes, this action is exempt from Article II of the APA and executive branch review.
Exempt Citation: 2.2-4002 (B)(22)
RIS Project No project yet assigned to this action
Note This action is not intended to satisfy the requirement that an entire regulation be reviewed every 4 years.
 
Stages
Stages associated with this regulatory action.
Stage ID Stage Type Status
3595 Final Stage complete. This regulation became effective on 3/7/2006.
 
Contact Information
Name / Title: Kimberly Mackey  / Regulatory Coordinator
Address: 5707 Huntsman Road
Suite 201-B
Richmond, VA 23250
Email Address: Kimberly.Mackey@vrc.virginia.gov
Phone: (804)966-7406    FAX: ()-    TDD: ()-

This person is the primary contact for this board.