Arizona Arizona Revised Statutes

§ 5-1301 — Definitions

ARS § 5-1301Title 5. Amusements and Sports · Ch. 11. EVENT WAGERING · Art. 1. General Provisions

Statute text

5-1301. Definitions In this chapter, unless the context otherwise requires: 1. "Adjusted gross event wagering receipts" means an event wagering operator's gross wagering receipts, excluding voided bets, minus winnings paid to authorized participants and any federal excise tax. A deduction from adjusted gross event wagering receipts equal to the value of free bets or promotional credits redeemed by authorized participants may be taken as provided in this paragraph. The deduction under this paragraph for free bets or promotional credits is limited to the first five years following the effective date of this section as follows:

(a)For years one and two, a deduction not to exceed twenty percent of an event wagering operator's gross wagering receipts.

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