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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 325:65-9-5. Double Pools
Latest version.
- (b) The net Double pool shall be distributed to winning wagers in the following precedence, based upon the official order of finish:(1) As a single price pool to those whose selection finished first in each of the two contests; but if there are no such wagers, then(2) As a profit split to those who selected the first-place finisher in either of the two contests; but if there are no such wagers, then(3) As a single price pool to those who selected the one covered first-place finisher in either contest; but if there are no such wagers, then(4) As a single price pool to those whose selection finished second in each of the two contests; but if there are no such wagers, then(5) The entire pool shall be refunded on Double wagers for those contests.(c) If there is a dead heat for first in either of the two contests involving:(1) contestants representing the same betting interest, the Double pool shall be distributed as if no dead heat occurred.(2) contestants representing two or more betting interests, the Double pool shall be distributed as a profit split if there is more than one covered winning combination.(d) Should a betting interest in the first-half of the Double be scratched prior to the first Double contest being declared official, all money wagered on combinations including the scratched betting interest shall be deducted from the Double pool and refunded.(e) Should a betting interest in the second-half of the Double be scratched prior to the close of wagering on the first Double contest, all money wagered on combinations including the scratched betting interest shall be deducted from the Double pool and refunded.(f) Should a betting interest in the second-half of the Double be scratched after the close of wagering on the first Double contest, all wagers combining the winner of the first contest with the scratched betting interest in the second contest shall be allocated a consolation payoff. In calculating the consolation pay off the net Double pool shall be divided by the total amount wagered on the winner of the first contest and an unbroken consolation price obtained. The broken consolation price is multiplied by the dollar value of wagers on the winner of the first contest combined with the scratched betting interest to obtain the consolation payoff. Breakage is not declared in this calculation. The consolation payoff is deducted from the net Double pool before calculation and distribution of the winning Double payoff. Dead heats including separate betting interests in the first contest shall result in a consolation payoff calculated as a profit split.(g) If either of the Double contests are canceled prior to the first Double contest, or the first Double contest is declared "no contest," the entire Double pool shall be refunded on Double wagers for those contests.(h) If the second Double contest is canceled or declared "no contest" after the conclusion of the first Double contest, the net Double pool shall be distributed as a single price pool to wagers selecting the winner of the first Double contest. In the event of a dead heat involving separate betting interests, the net Double pool shall be distributed as a profit split.(i) The following is an example of a standard price calculation for a Double 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 Winning Combination = $23,872.00(8) Profit: Net Pool - Gross Amount Bet on Winning Combination = $134,316.66(9) Profit Per Dollar: Profit/Gross Amount Bet on Winning Combination = 5.6265357(10) $1 Unbroken Price: Profit Per Dollar + $1 = $6.6265357(j) The following is an example of consolation pricing for a Double 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) Consolation Pool: Sum Total Amount Bet on winner of the first contest with all second contest betting interests = $43,321.00(8) $1 Consolation Unbroken Consolation Price: Net Pool/Consolation Pool = $3.6515468(9) $1 Consolation Broken Price = $3.65(10) Amount Bet on winner of the first contest with scratched betting interests = $1,234.00(11) Consolation Liability: $1 Consolation Broken Price x (Amount Bet on the winner of the first contest with scratched betting interests) = $4,504.10(12) Adjusted Net Pool: Net Pool - Consolation Liability = $153,684.56(13) Gross Amount Bet on the Winning Combination = $23,872.00(14) Profit: Adjusted Net Pool - Gross Amount Bet on the Winning Combination = $129,812.56(15) Profit Per Dollar: Profit/Gross Amount Bet on the Winning Combination = $5.4378586(16) $1 Unbroken Price: Profit Per Dollar + $1 = $6.4378586