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Current as of January 01, 2025 | Updated by Findlaw Staff
(a) Except as provided in § 11-516 of this subtitle, the takeout that a licensee deducts from the handle of a race shall be allocated in accordance with this section.
(b) A licensee shall:
(1) keep 50% of the breakage;
(2) allocate 45% of the breakage for purses; and
(3) allocate 5% of the breakage to the Maryland-Bred Race Fund.
(c) From the amount that a licensee deducts from each regular mutuel pool, the licensee shall:
(1) keep 7.70% of each regular mutuel pool, from which the licensee shall pay 0.25% of each regular mutuel pool to the Maryland Race Track Employees Pension Fund;
(2) allocate 0.32% of each regular mutuel pool to the Commission for State tax;
(3) allocate 1.10% of each regular mutuel pool to the Maryland-Bred Race Fund;
(4) allocate 7.70% of each regular mutuel pool for purses;
(5) allocate 0.18% of each regular mutuel pool as an additional amount for purses; and
(6) allocate 1% of each regular mutuel pool paid to the Maryland Million, Ltd., for purses of Maryland Million races.
(d) From the amount that a licensee deducts from each multiple mutuel pool on 2 horses, the licensee shall:
(1) keep 8.70% of each multiple mutuel pool, from which the licensee shall pay 0.25% of each multiple mutuel pool to the Maryland Race Track Employees Pension Fund;
(2) allocate 0.32% of each multiple mutuel pool to the Commission for State tax;
(3) allocate 1.10% of each multiple mutuel pool to the Maryland-Bred Race Fund;
(4) allocate 8.70% of each multiple mutuel pool for purses;
(5) allocate 0.18% of each multiple mutuel pool as an additional amount for purses; and
(6) allocate 2% of each multiple mutuel pool paid to the Maryland Million, Ltd., for purses of Maryland Million races.
(e) From the amount that a licensee deducts from each multiple mutuel pool on 3 or more horses, the licensee shall:
(1) keep 11.70% of each multiple mutuel pool, from which the licensee shall pay 0.25% of each multiple mutuel pool to the Maryland Race Track Employees Pension Fund;
(2) allocate 0.32% of each multiple mutuel pool to the Commission for State tax;
(3) allocate 1.10% of each multiple mutuel pool to the Maryland-Bred Race Fund;
(4) allocate 11.70% of each multiple mutuel pool for purses;
(5) allocate 0.18% of each multiple mutuel pool as an additional amount for purses; and
(6) allocate 0.75% of each multiple mutuel pool paid to the Maryland Million, Ltd., for purses of Maryland Million races.
Cite this article: FindLaw.com - Maryland Code, Business Regulation § 11-515 - last updated January 01, 2025 | https://codes.findlaw.com/md/business-regulation/md-code-bus-reg-sect-11-515/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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