Kan. Admin. Regs. § 112-9-11a

Current through Register Vol. 43, No. 46, November 14, 2024

Section 112-9-11a - General provisions

(a) Each parimutuel wagering pool shall be independently calculated and distributed. The takeout shall be deducted from each gross pool as authorized by law. The remaining monies in the pool shall constitute the net pool for distribution as payoff on winning wagers.

(b) For each wagering pool, the amount wagered on the winning betting interest or betting combinations shall be deducted from the net pool to determine the profit. The profit then shall be divided by the amount wagered on the winning betting interest or combinations, the quotient being the profit per dollar.

(c) The standard or the net price calculation procedure shall be used to calculate single commission pools, but only the net price calculation procedure shall be used to calculate multi-commission pools.

(d) If a profit split results in only one covered winning betting interest or combinations it shall be calculated the same as a single price pool.

(e) Minimum payoffs and the method used for calculating breakage shall be established by the commission.

Kan. Admin. Regs. § 112-9-11a

Authorized by K.S.A. 1990 Supp. 74-8804; implementing K.S.A. 1990 Supp. 74-8819, as amended by L. 1991, ch. 247, § 5; effective June 1, 1992.