Florida Statutes 550.903 – Definitions; Interstate Compact on Licensure of Participants in Pari-mutuel Wagering
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Terms Used In Florida Statutes 550.903
- Commission: means the Florida Gaming Control Commission. 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
As used in this compact, the term:
(1) “Compact committee” means the organization of officials from the party states which is authorized and empowered to carry out the purposes of this compact.
(2) “Official” means the appointed, elected, designated, or otherwise duly selected member of a racing commission, or the equivalent thereof, in a party state who represents that party state as a member of the compact committee.
(3) “Participants in pari-mutuel wagering” means participants in horseracing, greyhound racing, and jai alai games with pari-mutuel wagering in the party states.
(4) “Party state” means each state that has enacted this compact.
(5) “State” means each of the several states of the United States, the District of Columbia, the Commonwealth of Puerto Rico, and each territory or possession of the United States.