Fla. Admin. Code R. 75-7.004

Current through Reg. 50, No. 253; December 31, 2024

Section 75-7.004 - Win Pool

(1) The Win pool is the total amount wagered on all betting interests to finish in the first position in a single contest.

(2) The net Win pool shall be distributed as a single price pool to winning wagers in the following precedence, based upon the official order of finish:

(a) To those whose selection finished first; if there are no such wagers,

(b) To those whose selection finished second; if there are no such wagers,

(c) To those whose selection finished third; if there are no such wagers,

(d) The entire Win pool shall be refunded for that contest.

(3) If there is a dead heat for first involving:

(a) Contestants representing the same betting interest, the Win pool shall be distributed as if no dead heat occurred.

(b) Contestants representing two or more betting interests, the Win pool shall be distributed as a profit split.

WIN POOL Standard Price Calculation Example
Sum of Wagers on All Betting
Interests =	$23,200.00
Refunds =	$432.00
Gross Pool:
Sum of Wagers on All Betting Interests - Refunds =	$22,768.00
Percent Takeout =	19%
Takeout:
Gross Pool x Percent Takeout =	$4,325.92
Net Pool:
Gross Pool - Takeout =	$18,442.08
Gross Amount Bet on Winner =	$788.00
Profit:
Net Pool - Gross Amount Bet on Winner =	$17,654.08
Profit Per Dollar:
Profit/Gross Amount Bet on Winner =	$22.403654
$1 Unbroken Price:
Profit Per Dollar + $1 =	$23.403654
$1 Broken Price =	$23.40
Total Payout:
$1 Broken Price x Gross Amount Bet on Winner =	$18,439.20
Total Breakage:
Net Pool - Total Payout =	$2.88

Fla. Admin. Code Ann. R. 75-7.004

Rulemaking Authority 550.0251(3), (7), 550.155(1) FS. Law Implemented 550.0251, 550.155 FS.

New 10-20-96, Formerly 61D-7.004.

New 10-20-96, Formerly 61D-7.004.