§ 11-704. Takeout and winnings

Latest version.

   (a) Takeout. --

   (1) The licensee shall deduct from the handle:

      (i) all the breakage; and

      (ii) 25%.

   (2) From the 25% that the licensee deducts from the handle, 9% of the handle shall be paid to the Commission, which shall send it to the Comptroller to be credited to the Fair Hill Improvement Fund established in § 5-908 of the Natural Resources Article.

(b) Winnings. -- Money that remains after deductions are made under subsection (a) of this section shall be returned as winnings to successful bettors.

HISTORY: An. Code 1957, art. 78B, § 27, 27B; 1992, ch. 4, § 2; 2005, ch. 153.

                    
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