Okla. Admin. Code § 325:65-1-38

Current through Vol. 42, No. 6, December 2, 2024

Section 325:65-1-38 - Payment for errors

If an error occurs in the payment amounts for pari-mutuel wagers which are cashed or entitled to be cashed; and as a result of such error the pari-mutuel pool involved in the error is not correctly distributed among winning ticket holders, the following shall apply:

(1) Verification is required to show that the amount of the commission, the amount in breakage, and the amount in payoffs is equal to the total gross pool. If the amount of the pool is more than the amount used to calculate the payoff, the underpayment shall be added to the corresponding pool of the next contest. If underpayments are discovered after the close of the meeting, the underpayment shall be held in an interest-bearing account approved by the Commission until being added, together with accrued interest, to the corresponding pool of the next meet.

(2) Any claim not filed with the organization licensee within 30 days, inclusive of the date on which the underpayment was publicly announced, shall be deemed waived; and the organization licensee shall have no further liability therefore.

(3) In the event the error results in an overpayment to winning wagers, the organization licensee shall be responsible for such payment.

Okla. Admin. Code § 325:65-1-38

Added at 9 Ok Reg 3201, eff 6-30-92 (emergency); Added at 10 Ok Reg 3569, eff 7-12-93