Florida Statutes 550.495 – Totalisator licensing
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(1) A totalisator may not be operated at a pari-mutuel facility in this state, or at a facility located in or out of this state which is used as the primary totalisator for a race or game conducted in this state, unless the totalisator company possesses a business license issued by the commission.
(2)(a) Each totalisator company must apply to the commission for an annual business license. The application must include such information as the commission by rule requires.
Terms Used In Florida Statutes 550.495
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Commission: means the Florida Gaming Control Commission. See Florida Statutes 550.002
- Contract: A legal written agreement that becomes binding when signed.
- Event: means a single contest, race, or game within a performance. See Florida Statutes 550.002
- Pari-mutuel facility: means the grounds or property of a cardroom, racetrack, fronton, or other facility used by a licensed permitholder. See Florida Statutes 550.002
- pari-mutuel wagering: means a system of betting on races or games in which the winners divide the total amount bet, after deducting management expenses and taxes, in proportion to the sums they have wagered individually and with regard to the odds assigned to particular outcomes. See Florida Statutes 550.002
- Performance: means a series of events, races, or games performed consecutively under a single admission charge. See Florida Statutes 550.002
- Totalisator: means the computer system used to accumulate wagers, record sales, calculate payoffs, and display wagering data on a display device that is located at a pari-mutuel facility. See Florida Statutes 550.002
- writing: includes handwriting, printing, typewriting, and all other methods and means of forming letters and characters upon paper, stone, wood, or other materials. See Florida Statutes 1.01
(b) As a part of its license application, each totalisator company must agree in writing to pay to the commission an amount equal to the loss of any state revenues from missed or canceled races, games, or performances due to acts of the totalisator company or its agents or employees or failures of the totalisator system, except for circumstances beyond the control of the totalisator company or agent or employee, as determined by the commission.
(c) Each totalisator company must file with the commission a performance bond, acceptable to the commission, in the sum of $250,000 issued by a surety approved by the commission or must file proof of insurance, acceptable to the commission, against financial loss in the amount of $250,000, insuring the state against such a revenue loss.
(d) In the event of a loss of state tax revenues, the commission shall determine:
1. The estimated revenue lost as a result of missed or canceled races, games, or performances;
2. The number of races, games, or performances which is practicable for the permitholder to conduct in an attempt to mitigate the revenue loss; and
3. The amount of the revenue loss which the makeup races, games, or performances will not recover and for which the totalisator company is liable.
(e) Upon the making of such determinations, the commission shall issue to the totalisator company and to the affected permitholder an order setting forth the determinations of the commission.
(f) If the order is contested by either the totalisator company or any affected permitholder, the provisions of chapter 120 apply. If the totalisator company contests the order on the grounds that the revenue loss was due to circumstances beyond its control, the totalisator company has the burden of proving that circumstances vary in fact beyond its control. For purposes of this paragraph, strikes and acts of God are beyond the control of the totalisator company.
(g) Upon the failure of the totalisator company to make the payment found to be due the state, the commission may cause the forfeiture of the bond or may proceed against the insurance contract, and the proceeds of the bond or contract shall be deposited into the Pari-mutuel Wagering Trust Fund. If that bond was not posted or insurance obtained, the commission may proceed against any assets of the totalisator company to collect the amounts due under this subsection.
(3) If the applicant meets the requirements of this section and commission rules and pays the license fee, the commission shall issue the license.
(4) Each totalisator company shall conduct operations in accordance with rules adopted by the commission, in such form, content, and frequency as the commission by rule determines.
(5) The commission and its representatives may enter and inspect any area of the premises of a licensed totalisator company, and may examine totalisator records, during the licensee’s regular business or operating hours.