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Florida Administrative Code (Last Updated: October 28, 2024) |
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61. Department of Business and Professional Regulation |
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61D. Division of Pari-Mutuel Wagering |
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61D-7. Auditing |
1(1) The Place pool is the total amount wagered on all betting interests to finish in the first two positions in a single contest.
25(2) The net Place pool shall be distributed to winning wagers in the following precedence, based upon the official order of finish:
47(a) As a profit split to those whose selection is included within the first two finishers. However, if contestants of a coupled entry or mutuel field finished in the first two places the pool shall be paid as a single price pool to those who selected the coupled entry or mutuel field; if the first two finishers are separate betting interests and only one of the first two finishers are covered, then;
119(b) As a single price pool to those who selected the one covered betting interest included within the first two finishers; if there are no such wagers,
146(c) As a single price pool to those who selected the third place finisher; if there are no such wagers,
166(d) The entire Place pool shall be refunded for that contest.
177(3) If there is a dead heat for first involving:
187(a) Contestants representing the same betting interest, the Place pool shall be distributed as a single price pool.
205(b) Contestants representing two or more betting interests, the Place pool shall be distributed as a profit split.
223(4) If there is a dead heat for second involving:
233(a) Contestants representing the same betting interest, the Place pool shall be distributed as if no dead heat occurred.
252(b) Contestants representing two or more betting interests, the Place pool is divided with 1/2 of the profit distributed to Place wagers on the betting interest finishing first and the remainder is divided equally among Place wagers on those betting interests involved in the dead heat for second.
300PLACE POOL
302Standard Price Calculation
305Example
306Sum of Wagers on All Betting Interests =
314$23,200.00
316Refunds =
318$432.00
319Gross Pool:
321Sum of Wagers on All Betting Interests - Refunds =
331$22,768.00
333Percent Takeout =
33619%
337Takeout:
338Gross Pool × Percent Takeout =
344$4,325.92
346Net Pool:
348Gross Pool - Takeout =
353$18,442.08
355Gross Amount Bet on 1st Place =
362$512.00
363Gross Amount Bet on 2nd Place =
370$276.00
371Profit:
372Net Pool - Gross Amount Bet on 1st - Gross Amount Bet on 2nd =
387$17,654.08
389Place Profit:
391Profit/2 =
393$8,394827.04
395Profit Per Dollar for 1st Place:
401Place Profit/Gross Amount Bet on 1st Place =
409$17.2403125
410$1 Unbroken Price for 1st Place:
416Profit Per Dollar + $1 =
422$18.2403125
423Profit Per Dollar for 2nd Place:
429Place Profit/Gross Amount Bet on 2nd Place =
437$31.9820290
438Unbroken Price for 2nd Place:
443Profit Per Dollar + $1 =
449$32.9820290
450$1 Broken Price:
4531st Place =
456$18.20
4572nd Place =
460$32.90
461Total Payout:
463$1 Broken Price × Gross Amount Bet on 1st Place =
474$9,318.40
476$1 Broken Price × Gross Amount Bet on 2nd Place =
487$9,080.40
489Total Breakage:
491Net Pool – Total Payout =
497$43.28
498Specific Authority 500550.0251(3), 501(7), 502550.155(1) FS. 504Law Implemented 506550.0251, 507550.155 FS. 509History–New 10-20-96.
