Distribution of Total Wager Funds or Gross Receipts.
Section 8
SEC. 8. Distribution of Total Wager Funds or Gross Receipts. – The total wager funds or gross receipts from the sales of betting tickets shall be apportioned as follows: Eighty-two percent (82%) shall be distributed in the form of dividends among the holders of the winning tickets whether from pari mutuel, daily double, forecast, llave, quinella, trifecta, or any other manner of betting; Eight and one-half percent (8 1/2%) shall be retained by the grantee as its commission/fee for conducting the horse races; Eight and one-half percent (8 1/2%) shall be set aside for the payment of stakes or prizes of win, place and show horses and the authorized bonus for jockeys; and One percent (1%) shall be set aside for use of the Philippine Racing Commission: Provided, That in the case of gross receipts derived from the total sale for pari mutuel races, the one percent (1%) government share shall be set aside for the Games and Amusement Board, to be shared equally with the jockeys and horse, trainers' injury, disability and death compensation fund created under Republic Act No. 309, as amended.