An Act Further Amending Section Nineteen of Republic Act Numbered Three Hundred Nine, as Amended, so as to Provide for a More Equitable Distribution of Receipts in Horse Races

REPUBLIC ACT No. 1933

An Act Further Amending Section Nineteen of Republic Act Numbered Three Hundred Nine, as Amended, so as to Provide for a More Equitable Distribution of Receipts in Horse Races

Be it enacted by the Senate and House of Representatives of the Philippine Congress Assembled:

Section 1. Section nineteen of Republic Act Numbered Three hundred nine, as amended, is further amended to read as follows:

Section 2. This Act shall take effect upon its approval.

Approved: June 22, 1957.

"Sec. 19. Distribution of receipts. -The total wager funds or gross receipts from the sale of pari-mutuel tickets shall be apportioned as follows: eighty-seven and one-half per centum shall be distributed in the form of dividends among the holders of win, place and show horses, as the case may be, in the regular races; six and one-half per centum shall be set aside as the commission of the person, racetrack, racing club, or any other entity conducting the races; five and one-half per centum shall be set aside for the payment of stakes or prizes for win, place and show horses and authorized bonuses for jockeys; and one-half per centum shall be paid to a special fund to be used by the Games and Amusements Board to cover its expenses and such other purposes authorized under this Act. In the case of daily-double and llave races, the gross receipts derived from the total sale of tickets for said races shall be apportioned in the following manner: eighty-five per centum shall be distributed in the form of dividends among the holders of the winning combination of horses, that is, the two horses that won first place in the two races in the case of the daily-double, and among the holders of the winning combination of horses, that is, the two horses that won first and second place, or either way, in the case of the llave; eight and one-half per centum shall be set aside as the commission of the person, racetrack, racing club, or any other entity holding the horse races; six per centum for the payment of stakes or prizes for win, place and show horses; and one-half per centum as a special fund to be used by the Games and Amusements Board to cover its expenses and such other purposes authorized under this Act. Any unexpended balance of this special fund at the end of each year in excess of ten thousand pesos shall be turned over to the Bureau of Animal Industry to be used by the latter exclusively for the promotion of horse-breeding in the Philippines."