N.M. Admin. Code § 15.2.7.11

Current through Register Vol. 35, No. 23, December 10, 2024

Section 15.2.7.11 - INTERSTATE/INTRASTATE COMMON POOL WAGERING

A. GENERAL: All contracts governing participation in interstate/intrastate common pools shall be submitted to the commission for approval.

(1) Individual wagering transactions are made at the point of sale in the state where placed. Pari-mutuel pools are combined for computing odds and calculating payouts and breakage, but will be held separate for auditing and all other purposes.

(2) Any surcharges or withholdings in addition to the takeout shall only be applied in the jurisdiction otherwise imposing such surcharges or withholdings.

(3) In determining whether to approve an interstate/intrastate common pool which does not include the host track, the commission shall consider and may approve use of a bet type which is not utilized at the host track, application of a takeout rate not in effect at the host track, or other factors which are presented to the commission.

(4) The content and format of the visual display of racing and wagering information at facilities in other jurisdictions where wagering is permitted in the interstate/intrastate common pool need not be identical to the similar information permitted or required to be displayed under these rules.

B. GUEST STATE PARTICIPATION IN INTERSTATE/INTRASTATE COMMON POOLS:

(1) With the prior approval of the commission, pari-mutuel wagering pools may be combined with corresponding wagering pools in the host state, or with corresponding pools established by one or more other jurisdictions.

(2) The commission may permit adjustment of the takeout from the pari-mutuel pool so that the takeout rate in this jurisdiction is identical to that at the host track, or identical to that of other jurisdictions participating in a merged pool.

(3) Where takeout rates in the merged pool are not identical, the net price calculation shall be the method by which the differing takeout rates are applied.

(4) Rules of racing as established for the contest in the host state shall apply to the merged pool.

(5) The commission shall approve agreements made between the association and other participants in interstate/intrastate common pools governing the distribution of breakage between the jurisdictions.

(6) If, for any reason, it becomes impossible to successfully merge the bets placed into the interstate/intrastate common pool, the association shall make payouts in accordance with payout prices that would have been in effect if prices for the pool of bets were calculated without regard to wagers placed elsewhere; except that, with permission of the commission, the association may alternatively determine to either pay winning tickets at the payout prices at the host track, or declare such accepted bets void and make refunds in accordance with the applicable rules.

C. HOST STATE PARTICIPATION IN MERGED POOLS:

(1) With the prior approval of the commission, an association licensed to conduct pari-mutuel wagering may determine that one or more of its contest be utilized for pari-mutuel wagering at guest facilities in other states, and may also determine that pari-mutuel pools in guest states be combined with corresponding wagering pools established by it as the host track or comparable wagering pools established by two or more states.

(2) Where takeout rates in the merged pool are not identical, the net price calculation shall be the method by which the differing takeout rates are applied.

(3) Rules of racing established for races held in this state shall also apply to interstate/intrastate common pools unless the commission shall have specifically otherwise determined.

(4) The commission shall approve agreements made between the association and other participants in interstate/intrastate common pools governing the distribution of breakage between the jurisdictions.

(5) Any contract for interstate/intrastate common pools entered into by the association shall contain a provision to the effect that if, for any reason, it becomes impossible to successfully merge the bets placed in another state into the interstate/intrastate common pool formed by the association, or if, for any reason, the commission's or the association's representative determines that attempting to effect transfer of pool data from the guest state may endanger the association's wagering pool, the association shall have no liability for any measures taken which may result in the guest's wagers not being accepted into the pool.

D. TAKEOUT RATES IN INTERSTATE/INTRASTATE COMMON POOLS:

(1) With the prior approval of the commission, an association wishing to participate in an interstate/intrastate common pool may change its takeout rate (within the limits permitted by state law) so as to achieve a common takeout rate with all other participants in the interstate/intrastate common pool.

(2) An association wishing to participate in an interstate/intrastate common pool may request that the commission approve a methodology whereby host and guest states with different takeout rates for corresponding pari-mutuel pools may effectively and equitably combine wagers from the different states into an interstate/intrastate common pool.

N.M. Admin. Code § 15.2.7.11

15.2.7.11 NMAC - Rp, 15 NMAC 2.7.11, 3/15/2001