(1) (a) The corporation may promulgate administrative regulations governing and regulating mutuel wagering on horse races under what is known as the pari - mutuel system of wagering. (b) The wagering shall be conducted only by a person licensed under this chapte r to conduct a race meeting and only upon the licensed premises, and provided further that only pari -mutuel wagering on simulcasting shall be allowed at simulcast facilities. (c) The pari-mutuel system of wagering shall be operated only by a totalizator or other mechanical equipment approved by the corporation. The corporation shall not require any particular make of equipment. (2) The corporation may promulgate administrative regulations governing and regulating sports wagering, including administrative re gulations for the deposit of funds by credit or debit cards or other means of electronic funds transfer. The corporation may promulgate administrative regulations to establish a fully functioning sports wagering system within six (6) months after June 29, 2023. (3) The operation of a pari -mutuel system for betting, or the conduct of sports wagering, where authorized by law shall not constitute grounds for the revocation or suspension of any license issued and held under KRS 242.1238 and 243.265. (4) Notwithstanding any law to the contrary: (a) The corporation may promulgate administrative regulations governing all reported but unclaimed pari -mutuel winning tickets and unredeemed pari - mutuel vouchers held in this state by any person or association operating a pari-mutuel or similar system of betting authorized under this chapter; and (b) The unclaimed pari -mutuel winning tickets and unredeemed pari -mutuel vouchers shall be presumed abandoned if not claimed by the person entitled to them within one (1) year from the time the ticket was issued. (5) The corporation may issue a licen se to conduct pari -mutuel wagering on steeple chases or other racing over jumps; if all proceeds from the wagering, after expenses are deducted, is used for charitable purposes. If the dates requested for such a license have been granted to a track within a forty (40) mile radius of the race site, the corporation shall not issue a license until it has received written approval from the affected track. Pari -mutuel wagering licensed and approved under this subsection shall be limited to four (4) days per year . All racing and wagering authorized by this subsection shall be conducted in accordance with applicable administrative regulations promulgated by the corporation.
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