The National Thoroughbred Racing Association (NTRA) has established a system for individuals to submit an e-mail comment directly to the United States Treasury Department in support of newly proposed regulations related to withholding and reporting of pari-mutuel winnings, it was announced Wednesday.
The proposed regulations, which would replace outdated regulations adopted nearly 40 years ago, reflect today’s pari-mutuel wagering environment and are expected to positively impact a significant percentage of winning wagers, particularly those involving multi-horse or multi-race exotic wagers. It is believed that the proposed changes will result in tens of millions of dollars in additional pari-mutuel wagering annually.
“With horseracing’s all-important Triple Crown season fast approaching, the NTRA urges Treasury and the Service to adopt the proposed regulations as final regulations as soon as it is administratively feasible,” said NTRA CEO Alex Waldrop. “Horseplayers, tracks and other industry stakeholders, including governments, are eager to begin reaping the benefits that will result from these updated withholding and reporting rules.”
The system can be accessed for comments at the NTRA website.