Maine Revised Statutes Title 8 Sec. 275-E – Limit on total commission
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1. Commissions. Except as provided in subsection 2, the total commission on pools of regular wagers is 18% of each dollar wagered and the total commission on pools of exotic wagers is 26% of each dollar wagered, plus the odd cents of all redistribution to be based on each dollar wagered, whether regular wagers or exotic wagers, exceeding a sum equal to the next lowest multiple of 10, known as “breakage,” which must be retained by the licensee. Notwithstanding anything in this chapter to the contrary, the minimum payoff on a winning show wager must be 5% above the amount wagered.
[PL 2001, c. 300, §1 (AMD).]
Terms Used In Maine Revised Statutes Title 8 Sec. 275-E
- Exotic wagers: means wagers in which the bettor selects 2 or more horses in one or more races in a single wager. See Maine Revised Statutes Title 8 Sec. 275-A
- Licensee: means a person licensed under section 271 or section 275?D to conduct pari-mutuel wagering on horse racing in this State. See Maine Revised Statutes Title 8 Sec. 275-A
- Regular wagers: means wagers other than exotic wagers. See Maine Revised Statutes Title 8 Sec. 275-A
2. Commissions on interstate common pools. The total commission on interstate common pari-mutuel pools may not exceed the amount established by the laws of the state in which the wager is being pooled. In the event of a minus pool, the licensee shall pay the amount established by the laws of the state in which the race is held.
[PL 1993, c. 388, §8 (NEW).]
SECTION HISTORY
PL 1993, c. 388, §8 (NEW). PL 2001, c. 300, §1 (AMD).