(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.
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