N.J. Admin. Code § 13:70-29A.6 - Petitions to the Racing Commission to offer a single-pool wagering event
(a) A petition
for approval to conduct a single-pool wagering event shall be in writing, and
submitted to the Racing Commission for approval in advance of the event
offering, by a single-pool wagering outlet. The petition shall set forth the
race or races used to form the event, the single-pool wager placement type or
types to be offered as part of the event, and the single-pool wager variety or
varieties to be offered as part of the event. The petition shall explain,
consistent with
13:70-29A.8, how any unawarded
surplus is proposed to be distributed. The petition will further specify
whether the odds calculation engine will directly support and conduct the
calculation of odds in connection with the proposed single-pool wagering event,
or whether the totalisator will be responsible for supporting and calculating
some or all of such odds for any aspect of the proposed single-pool wagering
event. The petition shall further specify, consistent with
13:70-29A.9, the method proposed
by the single-pool wagering outlet to calculate the odds in the event of a dead
heat finish in connection with any race or wager subject of the proposed
single-pool wagering event.
(b)
Where the petition of a single-pool wagering outlet, to conduct a single-pool
wagering event, seeks approval for a number of races to form the event, which
number of races has not been previously approved by the Racing Commission at a
public meeting as part of a prior approval of a single-pool wagering event, the
petition shall include documentation from the single-pool wagering provider
evidencing that said number of races has been the subject of successful testing
of the odds calculation engine for accuracy and reliability, which is to
include a mathematical analysis of the odds calculation engine. The Commission,
in its discretion and at cost to the single-pool wagering provider, may require
that additional testing be conducted, which could include testing by an
independent firm specializing in such testing, as determined on a case-by-case
basis.
(c) Where a petition to
conduct a single-pool wagering event seeks approval for a single-pool wager
placement type to form the event, which single-pool wager placement type has
not been previously approved by the Racing Commission at a public meeting as
part of a prior approval of a single-pool wagering event, the petition shall
include documentation from the single-pool wagering provider evidencing that
said single-pool wager placement type has been the subject of successful
testing of the odds calculation engine for accuracy and reliability, which is
to include a mathematical analysis of the odds calculation engine. The
Commission, in its discretion and at cost to the single-pool wagering provider,
may require that additional testing be conducted, which could include testing
by an independent firm specializing in such testing, as determined on a
case-by-case basis.
(d) Where a
petition to conduct a single-pool wagering event seeks approval for a
single-pool wager variety to form the event, which single-pool wager variety
has not been previously approved by the Racing Commission at a public meeting
as part of a prior approval of a single-pool wagering event, the application
shall include documentation from the single-pool wagering provider evidencing
that said single-pool wager variety has been the subject of successful testing
of the odds calculation engine for accuracy and reliability, which is to
include a mathematical analysis of the odds calculation engine. The Commission,
in its discretion and at cost to the single-pool wagering provider, may require
that additional testing be conducted, which could include testing by an
independent firm specializing in such testing, as determined on a case-by-case
basis.
(e) Where a petition seeking
Racing Commission approval to conduct a single-pool wagering implicates (b),
(c), or (d) above, the petition of the single-pool wagering outlet shall
include any certifications required by
13:70-29A.4(a)4
and 5.
(f) Where a petition seeking
Racing Commission approval to conduct a single-pool wagering event implicates
13:70-29A.12(b),
the petition shall set forth the take-out structure for the proposed
single-pool wagering event.
Notes
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