Ill. Admin. Code tit. 11, § 318.20 - General Provisions
a) The
organization licensee shall apply in writing to the State Director of Mutuels
for approval to offer the Future Wager on a specified contest and shall not
offer the wager until approval by the State Director of Mutuels has been
granted. The application shall include the date and time for the pool to be
opened and closed, a description of the system for compiling the pool and
calculating odds and payout prices, and the time interval for displaying the
odds.
b) The organization licensee,
or, in the case of interjurisdiction common pool wagering, the host track,
shall name the contestants included in each betting interest on which Future
Wagers may be made and shall assign a program number to each betting
interest.
Notes
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