Md. Code Regs. 09.10.02.02

Current through Register Vol. 51, No. 22, November 1, 2024

Section 09.10.02.02 - Definitions for Pari-Mutuel Betting

A. In this chapter, the following terms have the meanings indicated.

B. Terms Defined.

(1) "Betting pool" means the accumulated total of all bets of the same type on the same race, or, if the type of bet encompasses more than one race, on the same races.

(2) "Breakage" means the remainder of the distributable pool after the will pay is calculated to the lowest multiple of 10 cents.

(3) "Carry over" means a net pool, or any portion of it, which is purposefully not distributed and which is to be added to the net pool on the same type of bet whenever that bet next occurs.

(4) "Common pool" means the merging of a betting pool at the live site with the same betting pool at locations other than the live site.

(5) "Dead heat" means that the noses of two or more horses reached the finish line at the end of a race at the same time.

(6) "Distributable pool" means the net pool minus the dollar total of the successful bets.

(7) "Entry" means two or more horses grouped as a single betting interest because of the commonality of ownership or the commonality of a trainer.

(8) "Established minimum bet" means the smallest dollar amount required to place a particular type of bet which is established by a racing association or regulation.

(9) "Exacta" ("Perfecta") means a type of bet in which the bettor selects two different betting interests to finish first and second in that exact order.

(10) "Field" means two or more horses grouped as a single betting interest because the number of separate betting interests in a race exceeds the maximum number of separate betting interests capable of being displayed on the totalisator board.

(11) "Live ticket" means a validly issued pari-mutuel ticket on an event which:

(a) Has not been run; or

(b) As a result of the event having been run, has had a value ascribed to the ticket, and the time period for the ticket's redemption has not expired.

(12) "Minimum pay" means a will pay in the amount of $1.05 per $1 bet.

(13) "Minus pool" means the amount by which the total minimum pay for all successful bets exceeds the distributable pool.

(14) "Net common pool" means the merging of a net pool at the live site with the same net pool at locations other than the live site.

(15) "Net pool" means the betting pool minus the takeout.

(16) "Official" means the purposeful posting of the final order of finish in a race by the judges or stewards.

(17) "Pari-mutuel betting" means the system of betting in which those who successfully bet on horses that finish in specified positions in an event proportionately share the net pool in which they participated.

(18) "Place" means a type of bet in which the bettor selects a betting interest to finish second or better.

(19) "Quad" means a type of bet in which the bettor selects four different betting interests to finish first, second, third, and fourth in that exact order.

(20) "Quinella" means a type of bet in which the bettor selects two different betting interests to finish first and second in either order.

(21) "Refund" means the amount bet that is deducted from the betting pool and returned to the bettor for cause.

(22) "Show" means a type of bet in which the bettor selects a betting interest to finish third or better.

(23) "Takeout" means the amount authorized by law to be deducted from a betting pool before its distribution to the winning bettors.

(24) "Triple" ("Trifecta") means a type of bet in which the bettor selects three different betting interests to finish first, second, and third in that exact order.

(25) "Will pay" means the calculated value of a successful bet at the established minimum.

(26) "Win" means a type of bet in which the bettor selects a betting interest to finish first.

Md. Code Regs. 09.10.02.02

Regulation .02 amended effective 3/30/77 (4:7 Md. R. 579)
Regulation .02A, C, E amended effective May 27, 1991 (18:10 Md. R. 1116)
Regulation .02C amended effective 6/15/79 (6:12 Md. R. 1048); repealed effective June 7, 1982 (9:11 Md. R. 1127)
Regulations .02 repealed effective April 10, 1995 (22:7 Md. R. 595)
Regulation .02 adopted effective November 18, 1996 (23:23 Md. R. 1556)