Oregon Law
Law as of Jan 1, 2026
Chapter contents
462.010Definitions 462.020License requirement; authority of commission to require fingerprints; rules 462.025Notice required to terminate use of license; hearing 462.030Qualifications for eligibility of race meet operator 462.040Race meet licenses, classes, limitations, contents; rules 462.050Application for race meet license; bond; payment of fees; submission of financial statements and inspection of records; return of deposit; refund of license fee 462.055Authority to require applicant to have recommendation of local governing body; fee 462.057License and other fees and purses; track fund 462.060[Amended by 1953 c.551 §2; 1955 c.642 §1; 1963 c.519 §38; repealed by 1969 c.356 §38] 462.062Fees and other payments by licensees of horse race meets not subject to ORS 462.057 462.065Security for association receiving payments under ORS 462.057 or 462.062; fee charged by association receiving payments under ORS 462.140 462.067License and other fees for race meets not subject to ORS 462.057 and 462.062 462.068Fees for wagering on certain previously held races 462.070License fees for officials, track operators and other race meet participants; rules 462.072Cash Vouchers Account; payment and expiration of vouchers; disposition of account balance; civil penalty 462.073Unclaimed Winnings Account; payment of winning or refund tickets; disposition of proceeds; civil penalties 462.075Grounds for refusal to issue or renew licenses; hearing 462.080Exclusion of certain persons from race courses; hearing; penalty 462.090Revocation, suspension and refusal to renew licenses; hearing; civil penalty 462.100License fee and tax in lieu of all others; exception 462.110Public liability insurance required; bond of licensee; actions on bond; insurance for jockeys and drivers 462.120[Amended by 1955 c.468 §1; 1961 c.203 §1; 1969 c.93 §§1,2; repealed by 1969 c.356 §38] 462.125Number and classes of race meets; unused race days; conflicting race dates 462.127Oregon Quarter Horse Racing Association and Oregon Division Horsemen’s Benevolent and Protective Association racing; exception to ORS 462.125 462.130Oregon bred horse races 462.135Oregon bred greyhound races 462.140Prohibitions concerning bookmaking, betting; track take; computation, use of breaks 462.142Account wagering 462.145Handicapping contests 462.147Mutuel pools; forms of mutuel wagering; wagering devices; rules 462.150Regulation of underpayments; effect of tax 462.155Wagering on races previously held 462.157Limitations on wagering on historical animal racing 462.160When race meet is a nuisance 462.170Commission rules apply to county fairs; enforcement 462.180[Repealed by 1969 c.356 §38] 462.185Issuance of licenses to animal owners or trainers; conditions; revocation 462.190Restrictions on minors; selling wagering tickets to minors or visibly intoxicated persons 462.195Written statement of age from purchaser of mutuel wagering ticket or receipt 462.200Tests of animals participating in race meets or persons required to be licensed; costs; rules 462.210Oregon Racing Commission; appointment; confirmation 462.220Compensation and expenses of members 462.230Vacancies and removal 462.240Oath of office 462.250Organization of commission; employees of commission and appointed officials to conduct race meets; commission to fix compensation; rules and regulations 462.260Oregon Racing Commission Account; office, records and annual report of commission 462.265Commission subject to state budget procedures and laws governing supervision of expenditures 462.270Duties of commission; rules 462.272Power of commission to administer oaths, take depositions, issue subpoenas 462.273Prohibited activities of commission, staff and family members 462.275Commission activities concerning betterment of racing; establishment of library 462.277Service and execution of warrants of arrest and search warrants 462.279Report on greyhound race wagers 462.280[Amended by 1955 c.20 §1; 1955 c.642 §2; 1959 c.279 §1; 1961 c.488 §3; 1963 c.495 §1; 1967 c.275 §3; 1969 c.298 §1; 1971 c.688 §1; 1975 c.550 §9; 1977 c.281 §4; 1977 c.855 §7; 1979 c.698 §7; 1981 c.544 §15; 1983 s.s. c.7 §12; 1987 c.413 §12; repealed by 1993 c.682 §13] 462.285Confidentiality of identity of persons making certain reports 462.290[Amended by 1963 c.495 §2; 1969 c.298 §16; 1971 c.688 §4; 1975 c.550 §10; 1977 c.281 §6; 1977 c.855 §17; 1987 c.413 §13; repealed by 1993 c.682 §13] 462.295[1963 c.495 §4; 1965 c.513 §1; 1967 c.275 §1; 1969 c.298 §17; 1971 c.688 §5; 1975 c.550 §11; 1977 c.281 §7; 1977 c.855 §17a; 1981 c.41 §2; 1987 c.413 §14; repealed by 1993 c.682 §13] 462.300[1955 c.328 §§1,2,3; 1957 c.475 §1; 1963 c.495 §3; 1969 c.298 §18; 1971 c.688 §6; 1975 c.536 §1; 1975 c.550 §12; 1977 c.281 §8; 1977 c.774 §25; 1977 c.855 §18; 1983 s.s. c.7 §13; 1987 c.413 §15; repealed by 1993 c.682 §13] 462.301Definitions for ORS 462.301 to 462.340 462.304Legislative findings 462.307Lawful exchange wagering 462.310Exchange wagering accounts 462.313Exchange wagering license; rules 462.316Prohibition on accepting certain wagers; suspension or closure of account 462.319Collection of exchange revenues 462.322Cancellation of wagers 462.325Matched wagers; rules 462.328Posting of exchange wager in market; rules 462.331Posting of exchange wager in pool 462.334Fees 462.337Limitations on authority of Oregon Racing Commission 462.340Rules 462.400Wagering on dog races prohibited 462.405Board of stewards’ authority; civil penalties and other sanctions; review of actions by commission; hearing; fee; rules 462.408Recovery of owed amounts 462.410[1953 c.498 §1; repealed by 1969 c.356 §38] 462.415Animals prohibited from racing; prohibited acts; rules 462.417Schedule of purses to have prior approval of commission 462.420Stimulating or depressing participating animal prohibited 462.430Prohibitions concerning influencing results of races 462.440[1953 c.498 §4; repealed by 1969 c.356 §38] 462.450Regulation of possession, transportation or use of drugs at race course 462.460Racing animal under name or designation other than registered name or designation or altering license prohibited 462.470Aiding or abetting racing of animal under name or designation other than registered name or designation prohibited 462.510Demand or acceptance of compensation for furnishing racing information as touting; how predictions on race outcome may be sold 462.520Penalty for falsely using name of racing official as source of information in commission of touting 462.530[1953 c.499 §4; repealed by 1969 c.356 §38] 462.700Authorization; procedure 462.710Application; contents; conditions; revocation of authority 462.720Pooling wagered moneys; surcharge on wagering by licensee 462.725Multi-jurisdictional simulcasting and wagering; fees; rules; distribution of moneys paid to commission; limitation on greyhound wagering accounts 462.727Totalizator business license; rules; fees 462.730Payments by licensee to commission 462.735Suspension or refusal to renew license; hearing; rules 462.740Rules; compliance with federal law 462.990Penalties 462.995Civil penalties; rules

Chapter 462 — Racing

ORS 462.316 Prohibition on accepting certain wagers; suspension or closure of account

(1)

An exchange wagering licensee may not accept an exchange wager, or series of exchange wagers, from an exchange wagering account holder if the results of the exchange wager or series of exchange wagers would create a liability for the holder in excess of moneys on the deposit in the holder’s exchange wagering account.

(2)

An exchange wagering licensee may suspend or close an exchange wagering account at the discretion of the exchange wagering licensee.

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