(1) Exchange wagering may be conducted only by an exchange wagering licensee through an exchange wagering system pursuant to an exchange wagering license issued under ORS 462.313;
(2) Exchange wagering must be conducted pursuant to and in compliance with the provisions of the Interstate Horseracing Act of 1978, 15 U.S.C. 3001 to 3007, as amended, and ORS 462.301 to 462.340 and the rules adopted pursuant to ORS 462.301 to 462.340; and
(3) Exchange wagers must be submitted to and accepted by an exchange wagering licensee in person, by telephone or by communication through other electronic means. [2019 c.313 §4]