(1) Each pari-mutuel wagering pool shall be
separately and independently calculated and distributed and shall have no
connection with or relation to any other pool or form of wagering.
(2) For each wagering pool, the amount
wagered on the winning betting interest or betting combinations is deducted
from the net pool to determine the profit:
(a) For a single price pool, the profit is
then divided by the amount wagered on the winning betting interest or
combinations, the quotient, plus one dollar, being the profit per
dollar.
(b) For a profit split, the
profit is divided by the number of covered winning combinations involved in the
profit split and then divided by the amount wagered on each combination plus a
dollar to determine the unique price for each combination. This applies to all
profit split calculations except where a different profit split calculation is
required by the specifics of a wagering pool rule.
(3) The result rounded down to the nearest
multiple of 10 cents ($0.10) of the profit per dollar, plus one dollar, shall
be the price per winning dollar awarded to the winning bettors.
(4) If the calculated price per winning
dollar is less than $1.10, the minimum payout shall be $1.05. Any resulting
minus pool will be an expense to the permitholder conducting the event and the
applicable guest permitholders.
(5)
The net pool less the total payout and, where applicable, amounts set aside for
jackpots, constitutes the breakage for each pool or minus pool.
(6) If a betting interest in a contest is
scratched, wagers on that betting interest shall be refunded unless otherwise
indicated in the rule governing a particular pool.
(7) If a contest or performance is canceled
or declared "no contest, " all wagers shall be refunded unless otherwise
indicated in the rule governing the particular pool.
(8) Either the standard price calculation or,
with prior notification to the division, the net price calculation may be used
according to the following formulae:
(a)
Standard Price Calculation Procedure.
|
SINGLE PRICE POOL (WIN POOL)
|
|
gross pool
|
=
|
sum of wagers on all betting interests -
refunds
|
|
takeout
|
=
|
gross pool x percent takeout
|
|
net pool
|
=
|
gross pool - takeout
|
|
profit
|
=
|
net pool - gross amount bet on winner
|
|
profit per dollar
|
=
|
profit/gross amount bet on winner
|
|
$1 unbroken price
|
=
|
profit per dollar + $1
|
|
$1 broken price
|
=
|
$1 unbroken price rounded down to the break
point
|
|
total payout
|
=
|
$1 broken price x gross amount bet on winner
|
|
total breakage
|
=
|
net pool - total payout
|
PROFIT SPLIT (PLACE POOL)
Profit is net pool less gross amount bet on all place
finishers. Finishers split profit 1/2 and 1/2 (place profit), then divide by
gross amount bet on each place finisher for two distinct prices.
PROFIT SPLIT (SHOW POOL)
Profit is net pool less gross amount bet on all show
finishers. Finishers split profit 1/3 and 1/3 and 1/3 (show profit), then
divide by gross amount bet on each show finisher for three distinct
prices.
(b) Net Price
Calculation Procedure.
|
SINGLE PRICE POOL (WIN POOL)
|
|
* for each source:
|
|
|
|
gross pool
|
=
|
sum of wagers on all betting interests -
refunds
|
|
takeout
|
=
|
gross pool x percent takeout
|
|
net pool
|
=
|
gross pool - takeout
|
|
net bet on winner
|
=
|
gross amount bet on winner x (1 - percent
takeout)
|
|
total net pool
|
=
|
sum of all sources net pools
|
|
total net bet on winner
|
=
|
sum of all sources net bet on winner
|
|
profit
|
=
|
total net pool - total net bet on winner
|
|
profit per dollar
|
=
|
profit/total net bet on winner
|
|
$1 unbroken base price
|
=
|
profit per dollar + $1
|
|
* for each source:
|
|
|
|
$1 unbroken price
|
=
|
$1 unbroken base price x (1 - percent takeout)
|
|
$1 broken price
|
=
|
$1 unbroken price rounded down to the break
point
|
|
total payout
|
=
|
$1 broken price x gross amount bet on winner
|
|
total breakage
|
=
|
net pool - total payout
|
PROFIT SPLIT (PLACE POOL)
Profit is the total net pool less the total net bet on all
place finishers. Finishers split profit 1/2 and 1/2 (place profit), then divide
by total net bet on each place finisher. The result plus one dollar is the
unique unbroken base price for each covered winning betting interest.
PROFIT SPLIT (SHOW POOL)
Profit is the total net pool less the total net bet on all
show finishers. Finishers split profit 1/3, 1/3, 1/3 (show profit), then divide
by total net bet on each show finisher. The result plus one dollar is the
unique unbroken base price for each covered winning betting
interest.
(9) If a
contestant is scratched or withdrawn from wagering after betting has begun, the
money bet on that contestant shall be refunded except for pools where
substitutions in the wager are required or scratches provide for the award of
consolation prices. However, when the contestant is part of an entry or a
field, there shall be no refund, if the entry or the field has at least one
actual starter.
(10) Prices shall
be calculated based upon the official order of finish as determined by the
ruling of the judges or stewards. The ruling of the judges or stewards shall be
final. For the purposes of the distribution of the pools, if the judges correct
the order of finish, the prices will be recalculated according to the corrected
order of finish.
(11) The
disqualification of an entry after the contest is made "Official" shall have no
bearing on the mutuel payoff.
(12)
After the close of wagering, a pool shall not be reopened for additional
wagering. In the event that the wagering pools are closed inadvertently prior
to the scheduled close of wagering, the pools may be reopened and wagering may
continue until the scheduled close of wagering. However, for wagering on jai
alai games only, the game(s) may be interrupted after the first player reaches
three points to allow for the accumulation of new wagering pools. This betting
period shall be known as the re-bet period.
(a) Wagers made during the re-bet period may
be accepted for any single game wager: Win, Place, Show, Exacta, Quinella,
Trifecta and Superfecta. Jackpot wagers or wagers which require more than one
game for completion shall not be accepted during the re-bet period.
(b) The jai alai permitholders shall inform
the public via the official program as to the games and pools on which the
re-bet will be offered. The opening of the re-bet period shall be announced
over the public address system and displayed on the video display
monitors.
(c) Prior to the
resumption of the game the Mutuels Manager shall inform the state judge as to
the scheduled times for the closing of the re-bet period.
(d) Any jai alai permitholder electing to
offer the re-bet shall, on the Form FGCC PMW-3520, Notification of Pari-Mutuel
Operations, adopted and incorporated by Rule
75-10.001, F.A.C., indicate the
games and wagers upon which the re-bet shall be offered and how long the re-bet
period will last.
