N.Y. Comp. Codes R. & Regs. tit. 9 § 4122.48

Current through Register Vol. 46, No. 50, December 11, 2024

Section 4122.48 - Grand Slam wager

(a) Commission approval. An association or corporation must obtain written approval from the commission for the initial scheduling or specific performances of Grand Slam races or any other name used to characterize this bet type, and identify the pari-mutuel pool and any required distribution percentages. Changes to the approved Grand Slam format, or suspension of previously approved Grand Slam wagering, require prior written approval from the commission.

(b) Grand Slam pools.

(1) The Grand Slam requires selection of the official first, second or third-place finisher in each of the first three races in a series of four designated Grand Slam races in a single day. A completed winning Grand Slam wager requires the selection of the official first place finisher in the fourth and final event in this same series of races. The Grand Slam wager is classified as an exotic bet and is subject to the prevailing exotic takeout rate set forth in section 318 of the Racing Pari-Mutuel Wagering and Breeding Law (between 20 to 30 percent of total deposits in pools resulting from on-track exotic bets and selected by an association or corporation and approved by the commission).

(2) The Grand Slam pool shall be apportioned under the following method:

(i) The net Grand Slam pool shall be distributed from a single betting pool to participants who selected the first, second or third-place finisher in the first three races of a series of four Grand Slam races completing a winning wager with the selection of the first place finisher in the fourth and final Grand Slam event in this same series, based upon the official order of finish.

(ii) If there are no winning wagers taking into account all four segments of the Grand Slam wager, then the pool shall be distributed as a single betting pool to those who selected the first place finisher in the fourth and final Grand Slam event in this series of races along with the greatest number of first, second or third-place finishes each of which had an accompanying show pari-mutuel payout, in each of the first three races in the series of four designated Grand Slam races. All results are based upon the official order of finish for each race.

(3) If there is a dead heat for first in any of the Grand Slam segments involving:

(i) Official program numbered horses representing the same betting interest, then the Grand Slam pool shall be distributed as if no dead heat occurred.

(ii) Official program numbered horses representing two or more betting interests, then the Grand Slam pool shall be distributed from a single betting pool with a winning wager including each betting interest participating in the dead heat provided each entrant has a pari-mutuel show payout within its race.

(4) If there is a dead heat for second and/or third in any of the first three races in a series of four designated Grand Slam contests involving:

(i) Horses representing the same betting interest, then the Grand Slam pool shall be distributed as if no dead heat occurred.

(ii) Horses representing two or more betting interests, then the Grand Slam pool shall be distributed from a single betting pool with a winning wager including the betting interest which finished first or any betting interest involved in the dead heat for second or third providing the horse has a show pari-mutuel payout.

(5) Should a betting interest in any of the Grand Slam contests be scratched:

(i) The actual favorite, as evidenced by total amounts wagered in the Win pool at the host association for the contest at the close of wagering on that contest, shall be substituted for the scratched betting interest for all purposes, including pool calculations. In the event that the Win pool total for two or more favorites is identical, the substitute selection shall be the betting interest with the greatest amount of money in the place pool. The totalisator shall produce reports showing each of the wagering combinations with substituted betting interests that became winners as a result of the substitution, in addition to the normal winning combination.

(ii) Should a scratch or scratches occur in any of the first three races in a series of four designated Grand Slam contests and subsequently show wagering is cancelled due to an insufficient number of remaining betting interests, this race for winning Grand Slam wagering purposes would include the win and place horse only.

(6) If at least two contests included as part of a Grand Slam wager are canceled or declared "no contest", then the Grand Slam pool shall be canceled and all Grand Slam wagers for the individual performance shall be refunded.

(7) If at least one race included as part of a Grand Slam wager is canceled or declared "no contest", but not more than the number specified in paragraph (6) of this section, then the net pool shall be distributed from a single betting pool to those bettors whose selections finished first, second or third in the greatest number of Grand Slam contests in the first three races in a series of four designated Grand Slam contests. In determining a pari-mutuel distribution under this section, a finish of first in the final and fourth designated Grand Slam contest race for the performance in question shall have the same weight as a finish of first, second or third in the greatest number of Grand Slam contests in the first three races in a series of four designated Grand Slam contests.

(8) Providing information to any person regarding covered combinations, amounts wagered on specific combinations, number of tickets sold, or number of live tickets remaining prior to the third segment of the wager being made official is strictly prohibited. This shall not prohibit necessary communication between totalisator and pari-mutuel department employees for processing of pool data.

N.Y. Comp. Codes R. & Regs. Tit. 9 § 4122.48