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Oklahoma Administrative Code (Last Updated: March 11, 2021) |
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TITLE 325. Oklahoma Horse Racing Commission |
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Chapter 65. Pari-Mutuel Wagering |
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Subchapter 9. Calculation of Payoffs and Distribution of Pools |
SECTION 325:65-9-4. Show Pools
Latest version.
- (a) The amounts wagered to Show on the first three betting interests to finish are deducted from the net pool, the balance remaining being the profit; the profit is divided into three equal portions, one being assigned to each winning betting interest and divided by the amount wagered to Show on that betting interest, the resulting quotient being the profit per dollar wagered to Show on that betting interest.(b) The net Show 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 three places, as a single price pool to those who selected the coupled entry or mutuel field; otherwise(2) If contestants of a coupled entry or mutuel field finished as two of the first three finishers, the profit is divided with two-thirds (2/3) distributed to those who selected the coupled entry or mutuel field and one-third (1/3) distributed to those who selected the other betting interest included within the first three finishers; otherwise(3) As a profit split to those whose selection is included within the first three finishers; but if there are no such wagers on one of those three finishers, then(4) As a profit split to those who selected one of the two covered betting interests included within the first three finishers; but if there are no such wagers on two of those three finishers, then(5) As a single price pool to those who selected the one covered betting interest included within the first three finishers; but if there are no such wagers, then(6) As a single price pool to those who selected the fourth-place finisher; but if there are no such wagers, then(7) The entire pool shall be refunded on Show wagers for that contest.(c) If there is a dead heat for first involving:(1) two contestants representing the same betting interest, the profit is divided with two-thirds (2/3) distributed to those who selected the first-place finishers and one-third (1/3) distributed to those who selected the betting interest finishing third.(2) three contestants representing a single betting interest, the Show pool shall be distributed as a single price pool.(3) contestants representing two or more betting interests, the Show pool shall be distributed as a profit split.(d) If there is a dead heat or second involving:(1) contestants representing the same betting interest, the profit is divided with one-third (1/3) distributed to those who selected the betting interest finishing first and two-thirds (2/3) distributed to those who selected the second-place finishers.(2) contestants representing two betting interests, the Show pool shall be distributed as a profit split.(3) contestants representing three betting interests, the Show pool is divided with one-third (1/3) of the profit distributed to Show wagers on the betting interest finishing first and the remainder is distributed equally amongst Show wagers on those betting interests involved in the dead heat for second.(e) If there is a dead heat for third involving:(1) contestants representing the same betting interest, the Show pool shall be distributed as if no dead heat occurred.(2) contestants representing two or more betting interests, the Show pool is divided with two-thirds (2/3) of the profit distributed to Show wagers on the betting interests finishing first and second and the remainder is distributed equally amongst Show wagers on those betting interests involved in the dead heat for third.(f) The following is an example of a standard price calculation for a Show pool:(1) Sum of Wagers on All Betting Interests = $194,230.00(2) Refunds = $1,317.00(3) Gross Pool: Sum of Wagers on All Betting Interests - Refunds = $192,913.00(4) Percent Takeout = 18%(5) Takeout: Gross Pool x Percent Takeout = $34,724.34(6) Net Pool: Gross Pool - Takeout = $158,188.66(7) Gross Amount Bet on 1st Place finisher = $23,872.00(8) Gross Amount Bet on 2nd Place finisher = $12,500.00(9) Gross Amount Bet on 3rd Place finisher = $4,408.00(10) Profit: Net Pool - Gross Amount Bet on 1st Place finisher - Gross Amount Bet on 2nd Place finisher - Gross Amount Bet on 3rd Place finisher = $117,408.66(11) Show Profit: Profit /3 = $39,136.22(12) Profit Per Dollar for 1st place: Show Profit/Gross Amount Bet on 1st place finisher = $1.6394194(13) $1 Unbroken Price for 1st place: Profit Per Dollar for 1st place + $ 1 = $2.6394194(14) Profit Per Dollar for 2nd place: Show Profit/Gross Amount Bet on 2nd place finisher = $3.1308976(15) $1 Unbroken Price for 2nd place: Profit Per Dollar for 2nd place + $1 = $4.1308976(16) Profit Per Dollar for 3rd place: Show Profit/Gross Amount Bet on 3rd place finisher = $8.8784528(17) $1 Unbroken-Price for 3rd place: Profit Per Dollar for 3rd place + $1 = $9.8784528(g) The following is an example of a net price calculation for a Show pool with a single takeout rate and single betting source:(1) Sum of Wagers on All Betting Interests = $194,230.00(2) Refunds = $1,317.00(3) Gross Pool: Sum of Wagers on All Betting Interests - Refunds = $192,913.00(4) Percent Takeout = 18%(5) Takeout: Gross Pool x Percent Takeout = $34,724.34(6) Total Net Pool: Gross Pool - Takeout = $158,188.66(7) Gross Amount Bet on 1st Place finisher =$23,872.00(8) Net Amount Bet on 1st Place finisher = $19,575.04(9) Gross Amount Bet on 2nd Place finisher = $12,500.00(10) Net Amount Bet on 2nd Place finisher = $10,250.00(11) Gross Amount Bet on 3rd Place finisher = $4,408.00(12) Net Amount Bet on 3rd Place finisher = $3,614.56(13) Total Net Bet on Winners: Net Amount Bet on 1st place finisher + Net Amount Bet on 2nd place finisher + Net Amount Bet on 3rd place finisher = $33,439.60(14) Total Profit: Total Net Pool - Total Net Bet on Winners = $124,749.06(15) Show Profit: Total Profit/3 = $41,583.02(16) Profit Per Dollar for 1st place: Show Profit/Net Amount Bet on 1st place finisher = $2.1242879(17) $1 Unbroken Base Price for 1st place: Profit Per Dollar for 1st place + $1 = 3.1242879(18) $1 Unbroken Price for 1st place: $1 Unbroken Base Price for 1st place x (1 - percent takeout) = $2.5619161(19) Profit Per Dollar for 2nd place: Show Profit/Net Amount Bet on 2nd place finisher = $4.056880(20) $1 Unbroken Base Price for 2nd place: Profit Per Dollar for 2nd place + $1 = $5.0568800(21) $1 Unbroken Price for 2nd place: $1 Unbroken Base Price for 2nd place x (1 - percent takeout) = $4.1466416(22) Profit Per Dollar for 3rd place: Show Profit/Net Amount Bet on 3rd place finisher = $11.504310(23) $1 Unbroken Base Price for 3rd place: Profit Per Dollar for 3rd place + $1 = $12.504310(24) $1 Unbroken Price for 3rd place: $1 Unbroken Base Price for 3rd place x (1 - percent takeout) = $10.253534