Section 75-7.005 - Place Pool(1) The Place pool is the total amount wagered on all betting interests to finish in the first two positions in a single contest.(2) The net Place pool shall be distributed to winning wagers in the following precedence, based upon the official order of finish:(a) As a profit split to those whose selection is included within the first two finishers. However, if contestants of a coupled entry or mutuel field finished in the first two places the pool shall be paid as a single price pool to those who selected the coupled entry or mutuel field; if the first two finishers are separate betting interests and only one of the first two finishers are covered, then;(b) As a single price pool to those who selected the one covered betting interest included within the first two finishers; if there are no such wagers,(c) As a single price pool to those who selected the third place finisher; if there are no such wagers,(d) The entire Place 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 Place pool shall be distributed as a single price pool.(b) Contestants representing two or more betting interests, the Place pool shall be distributed as a profit split.(4) If there is a dead heat for second involving:(a) Contestants representing the same betting interest, the Place pool shall be distributed as if no dead heat occurred.(b) Contestants representing two or more betting interests, the Place pool is divided with 1/2 of the profit distributed to Place wagers on the betting interest finishing first and the remainder is divided equally among Place wagers on those betting interests involved in the dead heat for second. PLACE 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 1st Place = | $512.00 |
Gross Amount Bet on 2nd Place = | $276.00 |
Profit: | |
Net Pool - Gross Amount Bet on 1st - Gross Amount Bet on 2nd = | $17,654.08 |
Place Profit: | |
Profit/2 = | $8,827.04 |
Profit Per Dollar for 1st Place: | |
Place Profit/Gross Amount Bet on 1st Place = | $17.2403125 |
$1 Unbroken Price for 1st Place: | |
Profit Per Dollar + $1 = | $18.2403125 |
Profit Per Dollar for 2nd Place: | |
Place Profit/Gross Amount Bet on 2nd Place = | $31.9820290 |
Unbroken Price for 2nd Place: | |
Profit Per Dollar + $1 = | $32.9820290 |
$1 Broken Price: | |
1st Place = | $18.20 |
2nd Place = | $32.90 |
Total Payout: | |
$1 Broken Price x Gross Amount Bet on 1st Place = | $9,318.40 |
$1 Broken Price x Gross Amount Bet on 2nd Place = | $9,080.40 |
Total Breakage: | |
Net Pool - Total Payout = | $43.28 |
Fla. Admin. Code Ann. R. 75-7.005
Rulemaking Authority 550.0251(3), (7), 550.155(1) FS. Law Implemented 550.0251, 550.155 FS.
New 10-20-96, Formerly 61D-7.005.New 10-20-96, Formerly 61D-7.005.