A parimutuel ticket is evidence of a wager into the parimutuel pool operated by the association and is evidence of the association's obligation to pay to the holder a portion of the distributable amount of the parimutuel pool that is represented by a valid parimutuel ticket. The association must cash all valid winning parimutuel tickets when they are presented for payment.

(1) To be deemed a valid parimutuel ticket, the ticket must have been issued by a parimutuel ticket machine, self-service terminal operated by the association, or self-service device and recorded as a ticket entitled to a share of the parimutuel pool. The parimutuel ticket must also contain the following:

(a) The name of the association operating the meeting;

(b) A unique identifying number or code;

(c) The terminal or device where the ticket was issued;

(d) The date that the wagering transaction was issued;

(e) The race number;

(f) The type or types of wager(s);

(g) The number or numbers representing the betting interests; and

(h) The amount or amounts of the wagers into the parimutuel pool or pools for which the ticket is evidence.

(2) No parimutuel ticket recorded or reported as paid, canceled, or nonexistent will be considered a valid parimutuel ticket.

(3) The association must maintain a record of all winning parimutuel tickets, not presented for payment. A record of these tickets when cashed must be retained for a period of twenty-four months from the date cashed. This record will be made available for inspection by the commission or its authorized representative when requested.