Ill. Admin. Code tit. 11 § 324.70

Current through Register Vol. 48, No. 49, December 6, 2024

Section 324.70 - Mandatory Distribution

a) A written request for permission to distribute a Pentafecta pool that includes a carryover on a specific race date may be submitted to the State Director of Mutuels. The request shall contain justification for the distribution, an explanation of the benefit to be derived, and the intended date for the distribution.

b) Should the Pentafecta carryover be designated for distribution on a specified date in which there are no wagers whose combination finished in correct sequence as the first five betting interests, then the entire pool shall be distributed using the method described in Section 324.20(a).

c) The Pentafecta carryover shall be designated for distribution on a specified race date only under the following circumstances:

1) Upon written approval from the State Director of Mutuels as provided for in subsection (a); or

2) On the closing date of the meet, split meet or successive or intervening race meeting at the same race track.

d) If, for any reason, the designated Pentafecta pool distribution does not take place on the last day of the race meet, the Pentafecta carryover must be held over to the corresponding Pentafecta of a subsequent meet, and the carryover shall be deposited in an interest-bearing account approved by the State Director of Mutuels. The Pentafecta carryover plus accrued interest shall then be added to the net Pentafecta pool of the following meet on a date designated by the State Director of Mutuels.

e) With written approval of the Board, the organization licensee may contribute to the Pentafecta carryover a sum of money up to the cap designated by the Board.

Ill. Admin. Code tit. 11, § 324.70

Added at 36 Ill. Reg. 15144, effective October 1, 2012