§ 41-10-7 - Off track betting taxes and commissions.
SECTION 41-10-7
§ 41-10-7 Off track betting taxes andcommissions. – (a) Each licensee conducting wagering in an off track betting facility underthe pari-mutuel system shall pay to the state, and there is hereby imposed, atax on such events at the rate of:
(1) Three and one half percent (3.5%) of the total moneywagered thereon on win, place, and show wagers;
(2) Four percent (4%) on multiple wagers therein involvingtwo (2) animals; and
(3) Four and one half percent (4.5%) on exotic wagers thereininvolving three (3) or more animals.
(b) Where the division has approved the commingling of wagersplaced at the off track betting facility into similar wagering pools at a hostfacility where the racing event is conducted, each licensee conducting wageringin an off track betting facility may retain as his or her licensee's commissionan amount equal to the takeout at the host facility. Where commingling ofwagers does not occur the division shall be:
(1) Eighteen percent (18%) of the amount wagered therein onwin, place and show wagers;
(2) Twenty percent (20%) on multiple wagers therein,involving two (2) animals;
(3) Twenty-five percent (25%) on exotic wagers thereininvolving three (3) or more animals; and
(4) One half (1/2) of the breakage to the dime resulting fromsuch betting shall be paid to the division to support the division inaccordance with § 41-4-4.1. The remaining breakage shall be retained bythe licensee.
(c) Off track betting licensees may impose a surcharge onwinning wagers of up to five and one half percent (5.5%) to offsettelecommunications costs and the cost of acquiring racing signals.