Horse Race Wagering Modifications.

SB 471 is a definitional bill that clarifies terms for future pari-mutuel wagering regulations in North Carolina, rather than implementing new policy. It establishes definitions for key concepts like "advance deposit account wagering" (ADW), "legacy track" (a horse track operating for at least 10 years with specific racing requirements), and "geofencing" technology to verify bettors' locations. The bill does not authorize new wagering types or change existing laws; it merely prepares terminology for potential future rules. It directly affects future licensees (e.g., legacy tracks, ADW platforms) and bettors by defining how they will be regulated. This is a procedural step, not a substantive policy change.