Relates to handicapping tournaments

Specifies who can operate a handicapping tournament; requires handicapping tournament operators to distribute no less than eighty percent of entry fees as prizes to the winners of a handicapping tournament; requires that five percent of the portion of the gross revenue collected by an operator on handicapping tournament entry fees from New York participants that is not distributed as prizes to the winners of a tournament be distributed quarterly by such operator to the horsemen's organization for welfare and medical plans for regularly employed backstretch employees.