N.J. Admin. Code § 13:70-29A.12

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

Section 13:70-29A.12 - Take-out structure for single-pool wagering events; calculation of net pool amount

(a) Where a Racing Commission-approved single-pool wagering event includes a single-pool wager variety, which same variety is also authorized by this chapter for multi-pool traditional wagering events, the take-out for such single-pool wagering variety shall be the same as that applied in multi-pool traditional wagering.

(b) Where a Racing Commission-approved single-pool wagering event includes a single-pool wager variety, which variety is not authorized by this chapter for multi-pool traditional wagering, the takeout rate for such single-pool wager variety shall be determined by the single-pool wagering outlet petitioning the Racing Commission for approval of the single-pool wagering event, but in no case shall the take-out rate be less than 17 percent or greater than 25 percent of the portion of the single wagering pool comprising said single-pool wager variety.

(c) Where a Racing Commission-approved single-pool wagering event is imported from another jurisdiction as a simulcast event, the take-out rate governing that race in the sending jurisdiction shall be applied.

(d) In no case shall any take-out rate for any single-pool wager variety be inconsistent with the take-out rate percentages provided for in P.L. 1940 c. 17 (5:5-22 et seq.).

(e) To arrive at the net pool amount for a single-pool wagering event, the take-out authorized by this section shall first be applied to and deducted from the total wagered on each single-pool wager variety for each race comprising the single-pool wagering event. The total amount wagered on each horse race wager variety shall then be divided into the corresponding net pool amount, which calculation results in the payoff price for each horse race wager variety for each race forming the single-pool wagering event.

N.J. Admin. Code § 13:70-29A.12