New Jersey Administrative Code
Title 13 - LAW AND PUBLIC SAFETY
Chapter 70 - HORSE RACING
Subchapter 29 - MUTUELS
Section 13:70-29.42 - Payments
Current through Register Vol. 56, No. 6, March 18, 2024
(a) Payments due on all wagers shall be made in conformity with the well established practice of the pari-mutuel system known as the "gross pool pricing" method as defined in 13:70-2.1, Definitions. However, with the prior approval of the Commission, payments due on all wagers may be made in conformity with the "net pool pricing" method as defined in 13:70-2.1.
(b) Money wagered on winning tickets is returned in full plus the profits.
(c) The practice is to work in dollars and not in the number of tickets.
(d) The break permitted by law is deducted in all of the calculations arriving at the pay-off prices; that is, the odd cents over any multiple of ten cents of winnings per dollar wagered are deducted and retained by the licensee, to be paid to the State.
(e) Unless contingencies arise not covered herein, the practice shall be as follows.