(a) Distribution.--A licensed racing entity shall distribute money in a pari-mutuel pool to the holders of winning tickets presented for payment before the first day of April of the year following the date of purchase. Failure to present a winning ticket within the prescribed period of time shall constitute a waiver of the right to participate in the award or dividend. After April 1 of the year following the year of purchase, a licensed racing entity shall forward the necessary funds held for uncashed tickets to the Department of Revenue. The funds shall be deposited into the State Racing Fund.
(b) Remainder.--The remainder of the money shall be retained by the licensed racing entity in the following manner:
(1) Seventeen percent of the money plus the breakage from regular wagering pools or 19% of the money plus the breakage from regular wagering pools for licensed racing entities whose daily total in all pari-mutuel pools averaged less than $300,000.
(2) Twenty percent of the money plus breakage from the exacta, daily double, quinella and other wagering pools as determined by the commission.
(3) At least 26%, but no more than 35%, from the trifecta or other wagering pools as determined by the commission.
(c) Retention.--A licensed racing entity may retain lesser percentages upon approval of the commission.
Cross References. Section 9335 is referred to in sections 9334, 9344 of this title; sections 13F06, 13F08, 13F42 of Title 4 (Amusements).
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