N.J. Admin. Code § 13:70-29.65

Current through Register Vol. 56, No. 21, November 4, 2024

Section 13:70-29.65 - The "Group Bet"

(a) The "Group Bet" is a wager which requires that a patron select one of two groups of horses in a particular race, with the letter (A) representing one group of horses and the letter (B) representing the second group of horses. The "Group Bet" constitutes a win wager on each participant in the selected group and therefore, in order to win a "Group Bet" wager, one horse in the particular group selected by the patron must win the race. In each race where the "Group Bet" is offered, standard win wagering shall also be offered, and the minimum permissible wager for the "Group Bet" shall be the same as the minimum permissible standard win wager. In addition to standard win wagering being offered in any race where the "Group Bet" is offered, the racing association may in its discretion offer any other wager authorized by this Chapter.

(b) The horses comprising Group (A) and Group (B) shall be selected by the racing association offering the "Group Bet." The horses comprising each group shall number two or more horses, and the number of horses in each group need not be the same. In each race where a racing association offers a "Group Bet," in addition to selecting the horses comprising Group (A) and Group (B), the racing association shall select one horse which shall not be a member of either group (that is, the "non-group horse"). Each horse in a race where the "Group Bet" is offered must be a member of Group (A), a member of Group (B), or the sole "non-group horse." If the "non-group horse" wins the race, a patron who bet on Group (A) or Group (B) would lose his or her "Group Bet" wager. The identity of the horses comprising Group (A) and Group (B), and the identity of the horse comprising "the non-group horse," shall be advertised to the public in the race program and in any other manner approved by the Racing Commission Executive Director pursuant to (g) below.

(c) The racing association offering the "Group Bet," rather than designating each group of horses as Group (A) or Group (B), subject to the approval of the Racing Commission Executive Director pursuant to (g) below, may designate a particular name for each group.

(d) "Group Bet" wagers shall be combined into, and become a part of, the standard win wager pool for the particular race where the "Group Bet" is offered. The takeout rate for a "Group Bet" wager shall, therefore, be the same as that applied to the standard win wager pool. The winning payout for a "Group Bet" wager shall be the same no matter which member of the particular group wagered upon wins the race.

1. The monies wagered as a "Group Bet" shall be allocated to the standard win wagering pool as follows. The racing association shall cause "Group Bet" wagers to be allocated to the win wagering pool for each horse within the specific group subject of the "Group Bet" wager, in proportion to the monies wagered upon each such horse to win the race in the standard win wagering pool. Specifically, this win pool wager allocation for an individual horse within a particular group shall be determined by adding the total monies wagered on all horses comprising the group (that is, Group (A) or Group (B)) as standard win wagers, then dividing such figure into the total amount wagered on the individual horse within the group (that is, Group (A) or Group (B)) as standard win wagers, and then multiplying the determined figure for that individual horse by the total wagered on the group to which it belongs as "Group Bets." For example, assume a race where the "Group Bet" is offered has five entries with horse 1 being the "non-group horse," horses 2 and 3 comprising Group (A), and horses 4 and 5 comprising Group (B). Assume further that, at the close of wagering, the following total wagers have been placed: $1,000 in standard win wagers on horse 1; $1,333 in standard win wagers on horse 2; $1,000 in standard win wagers on horse 3; $1,000 in standard win wagers on horse 4; $667.00 in standard wagers on horse 5; $1,000 in "Group Bet" wagers on Group (A); and $1,000 in "Group Bet" wagers on Group (B). Applying the above described formula to Group (A), the win pool allocation for Group (A) would equal $571.00 for horse 2 (that is, the total standard win pool wagers for each horse in the group ($1,333/horse 2 + $1,000/horse 3 = $2,333), divided into the standard win wager total for horse 2 ($2,333 divided into $1,333/standard win wager total for horse 2 = .571), times the total wagered on the Group (.571 x $1,000/total wagered on Group (A) = $571.00)); and $429.00 for horse 3.

2. Although the allocation described in (d)1 above shall be made as soon as possible after wagering has closed on the race, because the amount of money wagered upon each horse to win in any race is subject to change prior to the closing of the wagering pool, such allocation shall periodically be revised during the wagering process. Although the minimum wager for a "Group Bet" shall be the same as the minimum permissible wager for a standard win wager, such allocations may be made in fractional amounts less than the minimum permissible standard win bet wager.

3. The "Group Bet" probable win payout amount for each group shall be displayed to the public on a periodic basis prior to the closing of the wagering pools. Following the closing of the wagering pools, the actual win payout for any winning group shall be displayed to the public. The probable win payout amounts and actual win payout amount for a "Group Bet" shall be displayed to the public based upon a $2.00 wager, by the same method by which the probable win payout amounts and actual win payout amount for a standard win wager is displayed to the public.

4. The actual payout for a winning "Group Bet" shall be determined by multiplying the standard dollar win payout price for the race winner by the dollar amount allocated to the win wagering pool for the race winner (from the total dollar amount wagered upon the Group as "Group Bets" to which the race winner belongs), and then dividing the determined figure by the total wagered upon the Group (as "Group Bets") to which the race winner belongs. For example, and using the same hypothetical race example set forth in (d)1 above, after applying applicable breakage and assuming horse 2 wins the race, the standard win bet payout would be approximately $3.30 per dollar wagered and the "Group Bet" payout would be approximately $1.80 per dollar wagered (that is, $3.30 (standard win payout price) multiplied by $571.00 (amount allocated to the win wagering pool for horse 2 from the total dollar amount wagered upon Group (A) as "Group Bets"), which determined amount ($1,884.30) is divided by $1,000 (total bet on Group (A) as "Group Bets").

(e) In the event of a dead heat for win between two or more horses in the same group, the "Group Bet" winning payout shall be calculated in the same manner as if there was one winner of the race and such winner was a member of such group. In the event of a dead heat for win between one or more members of either group and the non-member of the group, or between one or more members of different groups, the "Group Bet" payout shall be determined in the same manner as the calculation of the win payoff, that is, by dividing the "net win wagering pool" (that is, for purposes of this section, the total win wagering pool, which includes standard win wagers and "Group Bet" wagers, less takeout).

(f) In the event the "non-group horse" is scratched or declared a non-starter, group betting shall cease and all "Group Bet" wagers previously placed on the race shall be refunded. In the event of a scratch or a declaration of non-starter of all of the members of Group (A) or all of the members of Group (B), group betting on the race shall cease and all "Group Bet" wagers previously placed on the race shall be refunded. In the event of a scratch or declaration of non-starter of a member of Group (A) or a member of Group (B), monies previously allocated to the scratched horse or non-starter shall be reallocated amongst the remaining member or members of that particular group.

(g) A racing association may not offer a "Group Bet" unless the format associated with the particular "Group Bet" wagering event is first approved by the Racing Commission Executive Director (Executive Director). A racing association desiring to offer a "Group Bet" must file a written approval request with the Executive Director at least three days prior to the commencement of public wagering on the proposed "Group Bet," and the licensee may not offer public wagering on the proposed "Group Bet" until written approval of the Executive Director is issued. The written approval request of the racing association shall contain: the date of and race where the "Group Bet" is proposed to be offered; the name of each group, in the event the racing association intends to identify each group by a designation other than Group (A) and Group (B); the patron base to which the wager will be offered (for example, to racetrack patrons, account wagering patrons, casino simulcast facility patrons, simulcast outlets, off-track wagering facility patrons); and the method and time of advertisement of the "Group Bet" rules to the wagering public. Such a request may be approved by the Executive Director, subject to a determination by the Executive Director that the proposed "Group Bet" complies with this section in all aspects. In approving any request of a racing association related to a "Group Bet," the Executive Director shall impose such conditions as are consistent with the best interests of racing and the interests of the wagering public. Any approval shall, however, be subject to the condition that the rules of the "Group Bet" be made available to the public at least 24 hours prior to the commencement of wagering. Although a "Group Bet" may be advertised to the public prior to the racing association obtaining such approval, any advertisement must contain language that "the offering of this wager is contingent upon and subject to the prior approval of the New Jersey Racing Commission."

(h) In the event circumstances occur which are not specifically addressed by this section, questions arising thereby shall be resolved by the Racing Commission Board of Stewards in accordance with the general pari-mutuel practice as set forth in this Chapter. The Racing Commission Board of Stewards shall resolve any question regarding the distribution of the wagering pool consistent with this rule.

N.J. Admin. Code § 13:70-29.65

New Rule, R.2006 d.83, effective 2/21/2006.
See: 37 N.J.R. 3790(a), 38 N.J.R. 1219(a).
Petition for Rulemaking.
See: 48 N.J.R. 230(a), 467(b), 864(a).