Code of Maryland Regulations
Title 09 - MARYLAND DEPARTMENT OF LABOR
Subtitle 10 - RACING COMMISSION
Chapter 09.10.02 - Harness Racing
Section 09.10.02.02 - Definitions for Pari-Mutuel Betting
Universal Citation: MD Code Reg 09.10.02.02
Current through Register Vol. 51, No. 19, September 20, 2024
A. In this chapter, the following terms have the meanings indicated.
B. Terms Defined.
(1) "Betting pool" means the
accumulated total of all bets of the same type on the same race, or, if the
type of bet encompasses more than one race, on the same races.
(2) "Breakage" means the remainder of the
distributable pool after the will pay is calculated to the lowest multiple of
10 cents.
(3) "Carry over" means a
net pool, or any portion of it, which is purposefully not distributed and which
is to be added to the net pool on the same type of bet whenever that bet next
occurs.
(4) "Common pool" means the
merging of a betting pool at the live site with the same betting pool at
locations other than the live site.
(5) "Dead heat" means that the noses of two
or more horses reached the finish line at the end of a race at the same
time.
(6) "Distributable pool"
means the net pool minus the dollar total of the successful bets.
(7) "Entry" means two or more horses grouped
as a single betting interest because of the commonality of ownership or the
commonality of a trainer.
(8)
"Established minimum bet" means the smallest dollar amount required to place a
particular type of bet which is established by a racing association or
regulation.
(9) "Exacta"
("Perfecta") means a type of bet in which the bettor selects two different
betting interests to finish first and second in that exact order.
(10) "Field" means two or more horses grouped
as a single betting interest because the number of separate betting interests
in a race exceeds the maximum number of separate betting interests capable of
being displayed on the totalisator board.
(11) "Live ticket" means a validly issued
pari-mutuel ticket on an event which:
(a) Has
not been run; or
(b) As a result of
the event having been run, has had a value ascribed to the ticket, and the time
period for the ticket's redemption has not expired.
(12) "Minimum pay" means a will pay in the
amount of $1.05 per $1 bet.
(13)
"Minus pool" means the amount by which the total minimum pay for all successful
bets exceeds the distributable pool.
(14) "Net common pool" means the merging of a
net pool at the live site with the same net pool at locations other than the
live site.
(15) "Net pool" means
the betting pool minus the takeout.
(16) "Official" means the purposeful posting
of the final order of finish in a race by the judges or stewards.
(17) "Pari-mutuel betting" means the system
of betting in which those who successfully bet on horses that finish in
specified positions in an event proportionately share the net pool in which
they participated.
(18) "Place"
means a type of bet in which the bettor selects a betting interest to finish
second or better.
(19) "Quad" means
a type of bet in which the bettor selects four different betting interests to
finish first, second, third, and fourth in that exact order.
(20) "Quinella" means a type of bet in which
the bettor selects two different betting interests to finish first and second
in either order.
(21) "Refund"
means the amount bet that is deducted from the betting pool and returned to the
bettor for cause.
(22) "Show" means
a type of bet in which the bettor selects a betting interest to finish third or
better.
(23) "Takeout" means the
amount authorized by law to be deducted from a betting pool before its
distribution to the winning bettors.
(24) "Triple" ("Trifecta") means a type of
bet in which the bettor selects three different betting interests to finish
first, second, and third in that exact order.
(25) "Will pay" means the calculated value of
a successful bet at the established minimum.
(26) "Win" means a type of bet in which the
bettor selects a betting interest to finish first.
Disclaimer: These regulations may not be the most recent version. Maryland may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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