Illinois General Assembly - Illinois Compiled Statutes

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230 ILCS 5/26.1

(230 ILCS 5/26.1) (from Ch. 8, par. 37-26.1)

Sec. 26.1.

For all pari-mutuel wagering conducted pursuant to this
Act, breakage shall be at all times computed on the basis of not to exceed
10¢ on the dollar.  If there is a minus pool, the breakage shall be
computed on the basis of not to exceed 5¢ on the dollar.
Breakage shall be calculated only after the amounts retained by licensees
pursuant to Sections 26 and 26.2 of this Act,
and all applicable surcharges, are taken out of winning wagers and winnings
from wagers.
Beginning January 1, 2000, all breakage shall be retained by licensees, with
50%
of breakage to be used by licensees for racetrack improvements
at the racetrack from which the wagering facility derives its license.  The
remaining
50% is to be allocated 50% to the purse account for the licensee from which the
wagering facility derives its license and 50% to the
licensee.

(Source: P.A. 91-40, eff. 6-25-99.)