New Jersey Administrative Code
Title 13 - LAW AND PUBLIC SAFETY
Chapter 70 - HORSE RACING
Subchapter 29 - MUTUELS
Section 13:70-29.44 - Calculating the pay-off in a place pool

(a) The Commission authorized by law is deducted from the sum total wagered in the place pool. The balance is called "net pool."

(b) The sum total of the amount wagered in the place pool on the horses placed first and second is deducted from the "net pool." This gives a remainder which is the profits or winnings. The said profit is divided into two equal parts, that is, between those who wagered, in the place pool, on the winner and those who wagered on the horse that was placed second.

(c) Using the amount wagered in the place pool on the winner "to place" as a divisor and one-half of the profits of the place pool, as specified in subsection (b) of this Section, as a dividend, the quotient thus obtained is the profit per dollar wagered in the place pool on the winner "to place."

(d) Using the amount wagered in the place pool on the horse placed second "to place" as a divisor and the other half of the profits, as specified in subsection (b) of this Section, as a dividend, the quotient thus obtained is the profit per dollar wagered in the place pool on the second horse "to place."

(e) In each of the subsections (c) and (d) of this Section the profit per dollar wagered is the resultant. The sums wagered on the horses placed first and second must be returned; therefore, add to the quotient the dollar taken out of the "net pool" in subsection (b) above. The result is the pay-off price for each dollar wagered on horses placed first and second in the place pool.