Alabama § 45-44-151.03 - Provisions Respecting Takeout of Racing Events.

§ 45-44-151.03. Provisions Respecting Takeout of Racing Events.

In order to provide a uniform takeout for parimutuel wagering on live greyhound racing events and on horse or greyhound racing events that are conducted elsewhere and received by television at the Macon County racetrack, and to enable the Macon County racetrack to maximize its participation in combined pools with other racetracks both inside and outside the State of Alabama, the Legislature hereby finds and determines that it is necessary and desirable to authorize the uniform takeout hereinafter provided for parimutuel pools wagered by bettors present at the Macon County racetrack, notwithstanding Section 40-26A-2, which section is hereby superseded to the extent that its provisions purport to govern the takeout at the Macon County racetrack in a manner inconsistent with this part. Subject to Section 45-44-151.01, relating to adjustment of the takeout for combined pools, the total takeout allowed to the racing operator of the Macon County racetrack for all parimutuel pools wagered at such racetrack on live greyhound races conducted at such racetrack and for all parimutuel pools wagered at such racetrack on televised horse or greyhound racing events received at such racetrack, before deducting any state or local wagering taxes or fees, shall be 25 percent of the total amount wagered in such pools by bettors present at the Macon County racetrack, irrespective of the number or combination of racing contestants selected by the bettors.