California · Business and Professions Code - BPC
BPC §19662: Any person who bets upon the results of a horse race except by a parimutuel method of wagering conducted by a person licensed under Article 4 of this chapter is punishable as provided in the Penal Cod
What this law says, in plain English
It is illegal to bet on horse race results except through licensed parimutuel wagering. Violators are punished according to the Penal Code.
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