Okla. Admin. Code § 325:65-9-3
Current through Vol. 42, No. 7, December 16, 2024
Section 325:65-9-3 - Place pools(a) The amounts wagered to Place on the first two betting interests to finish are deducted from the net pool, the balance remaining being the profit; the profit is divided into two equal portions, one being assigned to each winning betting interest and divided by the amount wagered to Place on that betting interest, the resulting quotient is the profit per dollar wagered to Place on that betting interest.(b) The net Place pool shall be distributed to winning wagers in the following precedence, based upon the official order of finish:(1) If contestants of a coupled entry or mutuel field finished in the first two places, as a single price pool to those who selected the coupled entry or mutuel field; otherwise(2) As a profit split to those whose selection is included within the first two finishers; but if there are no such wagers on one of those two finishers, then(3) As a single price pool to those who selected the one covered betting interest included within the first two finishers; but if there are no such wagers, then(4) As a single price pool to those who selected the third-place finisher; but if there are no such wagers, then(5) The entire pool shall be refunded on Place wagers for that contest.(c) If there is a dead heat for first involving:(1) contestants representing the same betting interest, the Place pool shall be distributed as a single price pool.(2) contestants representing two or more betting interests, the Place pool shall be distributed as a profit split.(d) If there is a dead heat for second involving:(1) contestants representing the same betting interest, the Place pool shall be distributed as if no dead heat occured.(2) contestants representing two or more betting interests, the Place pool is divided with one-half (1/2) of the profit distributed to Place wagers on the betting interest finishing first and the remainder is distributed equally amongst Place wagers on those betting interests involved in the dead heat for second.(e) The following is an example of a standard price calculation for a Place pool: | | |
| | |
| PLACE POOL |
| (Standard Price Calculation) |
| | |
| Sum of Wagers on All Betting Interests | = | $194,230.00 |
| Refunds | = | $1,317.00 |
| Gross Pool: Sum of Wagers on All Betting Interests - Refunds | = | $192,913.00 |
| Percent Takeout | = | 18% |
| Takeout: Gross Pool × Percent Takeout | = | $34,724.34 |
| Net Pool: Gross Pool - Takeout | = | $158,188.66 |
| Gross Amount Bet on 1st Place finisher | = | $23,872.00 |
| Gross Amount Bet on 2nd Place finisher | = | $12,500.00 |
| Profit: Net Pool - Gross Amount Bet on 1st Place finisher - Gross Amount Bet on 2nd Place finisher | = | $121,816.66 |
| Place Profit: Profit/2 | = | $60,908.33 |
| Profit Per Dollar for 1st place: Place Profit/Gross Amount Bet on 1st Place finisher | = | $2.5514548 |
| $1 Unbroken Price for 1st place: Profit Per Dollar for 1st place + $1 | = | $3.5514548 |
| Profit Per Dollar for 2nd place: Place Profit/Gross Amount Bet on 2nd place finisher | = | $4.8726664 |
| $1 Unbroken Price for 2nd place: Profit Per Dollar for 2nd place + $1 | = | $5.8726664 |
| | |
| | |
Okla. Admin. Code § 325:65-9-3
Added at 9 Ok Reg 3201, eff 6-30-92 (emergency); Added at 10 Ok Reg 3569, eff 7-12-93