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Maryland Code, Business Regulation § 11-613

Current as of January 01, 2025 | Updated by Findlaw Staff

(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.

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Cite this article: FindLaw.com - Maryland Code, Business Regulation § 11-613 - last updated January 01, 2025 | https://codes.findlaw.com/md/business-regulation/md-code-bus-reg-sect-11-613/

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