(a)(1) A licensee whose average handle is $150,000 or less shall keep the breakage.
(2) A licensee whose average handle is over $150,000 shall:
(i) allocate 50% of the breakage to the Sires Stakes Program; and
(ii) keep 50% of the breakage to pay for personnel-related expenses, physical improvements, track maintenance, and indebtedness related to the track, including indebtedness for clubhouse and grandstand construction.
(b) If an average handle is over $600,000, the takeout shall be:
(1) 17% from each regular mutuel pool;
(2) 19% from each multiple mutuel pool for 2 horses; and
(3) 25% from each multiple mutuel pool on 3 or more horses.
(c) If the average handle is $600,000 or less, the takeout shall be:
(1) not more than 18.75% from each regular mutuel pool;
(2) not more than 20.75% from each multiple mutuel pool on 2 horses; and
(3) not more than 26.75% from each multiple mutuel pool on 3 or more horses.
(d) Money that remains after deductions are made under this section shall be returned as winnings to successful bettors.
Credits
Added by Acts 1992, c. 4, § 2. Amended by Acts 1995, c. 590, § 1, eff. Oct. 1, 1995; Acts 2000, c. 309, § 2, eff. July 1, 2000; Acts 2004, c. 97, § 3, eff. July 1, 2004.
Formerly Art. 78B, § 17.
MD Code, Business Regulation, § 11-613, MD BUS REG § 11-613
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
