Horse Racing and Betting Regulation Act

Section 1 repeals Acts Numbered Fifteen hundred and thirty-seven, Fifteen hundred and ninety-nine, Eighteen hundred and four, and Thirty-nine hundred and twenty-three.
Section 1 revises, amends, and consolidates the laws governing horse races by replacing the repealed provisions with the provisions of Acts No. 4240.

Section 2 makes it unlawful for any person or body of persons to offer, take, or arrange bets on any horse race.
Section 2 makes it unlawful for any person or body of persons to maintain or use a totalizer or other device, method or system to bet or gamble on any horse race.
Section 2 imposes the prohibition on offering, taking, arranging, and on maintaining or using betting/gambling systems in the Philippines, including profit gained by betting or gambling in the Philippines.
Section 2 allows betting/betting systems only for the person or body of persons duly licensed to hold horse races.
Section 2 limits authorized horse races to specific dates: the first of Sunday of each month, legal holidays, and all Sundays in the month of February.
Section 2 allows a special selection where, on an island of the Philippines with only one legally engaged horse-racing entity, that entity may select the Sunday of the month for the authorized races for the first Sunday of each month.

Section 3 provides that nothing in Acts No. 4240 bars the offering and payment of prizes or gifts to victors in horse races at periods other than the dates stated in Section 2.
Section 3 conditions the allowance on the prizes/gifts being not attended by betting.
Section 3 further conditions the allowance on prizes/gifts not being attended by the use of totalizers or other devices for winning money by horse races.

Section 4 prohibits horse races on Thursday or Friday of Holy Week.
Section 4 allows races in lieu of those prohibited days on the Sunday next preceding and the Sunday next following, respectively.
Section 4 allows races to be moved to the first Sunday thereafter when the preceding or following Sunday is a day when horse races are permitted under Acts No. 4240.
Section 4 also allows the move to the first Sunday thereafter when two official holidays coincide on the same day.

Section 5 prohibits horse races on May thirtieth (commonly known as Memorial Day).
Section 5 prohibits horse races on December thirtieth (commonly known as Rizal Day).
Section 5 allows races in lieu of these prohibited dates on the Sunday next preceding May thirtieth and on the Sunday next preceding December thirtieth.
Section 5 allows races to be moved to the Sunday next following if the Sunday next preceding is a day when horse races are permitted under Acts No. 4240.
Section 5 further provides that when races are moved as above, the races are for charitable purposes.

Section 6 provides that if the permitted date for races for charitable purposes coincides with the date when the race course is entitled to hold races, the race course is authorized to hold races on the first Sunday thereafter not a legal day for horse races.

Section 7 establishes that for a violation of Acts No. 4240 with reference to a specific horse race, each race held on the occasion and at the place concerned constitutes a separate offense.
Section 7 provides that the president, each of the directors and managers of the body, and every person who committed the offense are considered principals.

Section 8 provides that any person convicted of any violation of Acts No. 4240 is punished by a fine of not more than two thousand pesos.
Section 8 provides that the conviction also carries imprisonment for not more than six months, or both, depending on the discretion of the court.