Fla. Admin. Code R. 75-7.008

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

Section 75-7.008 - Daily Double Pool

(1) The Daily Double requires selection of the first place finisher in each of two consecutive contests. Wagers for the Daily Double must be placed prior to the first of the two consecutive contests and include the selection of the first finisher for both contests and shall be printed on a single pari-mutuel ticket.

(2) The net Daily Double pool shall be distributed to winning wagers in the following precedence, based upon the official order of finish:

(a) As a single price pool to those whose selection finished first in each of the two contests, but if there are no such wagers,

(b) As a profit split to those who selected the first finisher in either of the two contests, if there are no such wagers on one of those combinations,

(c) As a single price pool to those who selected the one covered first place finisher in either contest, if there are no such wagers,

(d) The entire Daily Double pool shall be refunded.

(e) If the pool is distributed under the precedents of paragraph (2)(b) or (2)(c), an announcement shall be made to the public as to the possible winning daily double combinations and to hold all possible winning tickets.

(3) If there is a dead heat for first in either of the two contests involving:

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

(b) Contestants representing two or more betting interests, the Daily Double pool shall be distributed as a profit split if there is more than one covered winning combination.

(4) Should a betting interest in either the first or second half of the Daily Double be scratched prior to the close of wagering on the first Daily Double contest, all money wagered on combinations involving the scratched betting interest shall be deducted from the pool and refunded.

(5) Should a betting interest in the second half of the Daily Double be scratched after the close of wagering on the first Daily Double contest, all wagers combining the winner of the first contest with the scratched betting interest in the second contest shall be allocated a consolation payout. The consolation payout shall be calculated as if the Daily Double pool had ended with the first contest. The consolation price is multiplied by the dollar value of wagers on the consolation combination to determine the total consolation payment. The total consolation payout is then deducted from the net Daily Double pool before calculation and distribution of the regular winning Daily Double payout. Wagers receiving a consolation payout shall not be eligible for distribution of a regular winning payout except as provided for in subsection (7) of this rule.

(6) If either of the Daily Double contests are canceled or declared "no contest" prior to the first contest, the entire Daily Double pool shall be refunded for those contests.

(7) If the second Daily Double contest is canceled or declared "no contest" after the first Daily Double contest is made official, the net Daily Double pool shall be distributed as a single price pool to wagers selecting the winner of the first Daily Double contest. This provision shall also apply to those wagers which normally would have received a consolation payout under subsection (5) of this rule. In the event of a dead heat involving separate betting interests, the net Daily Double pool shall be distributed as a profit split.

DAILY DOUBLE
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 =	21%
Takeout:
Gross Pool x Percent Takeout =	$4,781.28
Net Pool:
Gross Pool - Takeout =	$17,986.72
Gross Amount Bet on Winning Combination =	$144.00
Profit:
Net Pool - Gross Amount Bet on Winning Combination =	$17,842.72
Profit Per Dollar:
Profit/Gross Amount Bet on Winning Combination =	$123.9077777
$1 Unbroken Price:
Profit Per Dollar + $1 =	$124.9077777
$1 Broken Price =	$124.90
Total Payout:
$1 Broken Price x Gross Amount Bet on Winning Combination =	$17,985.60
Total Breakage:
Net Pool - Total Payout =	$1.12
DAILY DOUBLE
Consolation Pricing
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 =	21%
Takeout:
Gross Pool x Percent Takeout =	$4,781.28
Net Pool:
Gross Pool - Takeout =	$17,986.72
Consolation Pool:
Sum Total Amount Bet on winner of the first contest with
all second contest betting interests:	$4,550.00
$1 Unbroken Consolation Price:
Net Pool/Consolation Pool =	$3.9531253
$1 Broken Consolation Price =	$3.90
Amount Bet on winner of the first contest with
scratched betting interests =	$30.00
Consolation Liability:
$1 Broken Consolation Price x Amount Bet on winner of the
first contest with scratched betting interests =	$117.00
Adjusted Net Pool:
Net Pool - Consolation Liability =	$17,869.72
Gross Amount Bet on the Winning Combination =	$114.00
Profit:
Adjusted Net Pool - Gross Amount Bet on Winning Combination =	$17,755.72
Profit Per Dollar:
Profit/Gross Amount Bet on Winning Combination =	$155.7519298
$1 Unbroken Price:
Profit Per Dollar + $1 =	$156.7519298
$1 Broken Price =	$156.70
Total Payout:
$1 Broken Price x Gross Amount Bet on Winning Combination =	$17,863.80
Consolation Payout =	$117.00
Total Breakage:
Net Pool - Total Payout =	$5.92

Fla. Admin. Code Ann. R. 75-7.008

Rulemaking Authority 550.0251(3), (7), 550.155(1) FS. Law Implemented 555.0251, 550.155(1) FS.

New 10-20-96, Formerly 61D-7.008.

New 10-20-96, Formerly 61D-7.008.