RS 610 - Payment of winnings; collection and use of funds
A.(1) Winning wagers that were placed in person or via a sports wagering mechanism with cash and are evidenced by a ticket receipt shall be redeemed by a player within one hundred eighty days after the date of the event. An operator shall pay tickets upon presentation after performing validation procedures unless otherwise allowed pursuant to the rules and regulations of the board.
(2) The failure to present a winning ticket within the prescribed time shall constitute a waiver of the right to the payment, and the holder of the ticket shall thereafter have no right to enforce payment of the ticket.
(3)(a) An operator's obligation to pay a winning ticket shall expire one hundred eighty days after the date of the sports event if not presented for payment.
(b) The funds held by any operator for payment of outstanding tickets shall be retained by the operator for that purpose until the expiration of one hundred eighty days after the date of the sports event.
(c) After such time, the operator shall each day accumulate the amount equal to the sum of any unclaimed winnings, less the amount of state tax paid by the licensee on the unclaimed monies that expire that day. On or before the fifteenth day of the first month following the end of a calendar-year quarter, the licensee shall remit to the state treasurer for deposit into the Crime Victims Reparations Fund as provided for in R.S. 46:1816 an amount equal to the accumulated total for the previous calendar-year quarter. The funds shall be used exclusively to pay the expenses associated with health care services of victims of sexually oriented criminal offenses, including forensic medical examinations as defined in R.S. 15:622.
B. Winning wagers placed using a sports wagering account shall be credited by the operator to the patron's account within one day after the date of the event unless otherwise allowed pursuant to the rules and regulations of the board.
Acts 2021, No. 440, §1, eff. July 1, 2021.