Ill. Admin. Code tit. 11 § 312.70

Current through Register Vol. 48, No. 45, November 8, 2024

Section 312.70 - Mandatory Distribution

a) A written request for permission to distribute the Place Pick N carryover on a specific performance may be submitted to the State Director of Mutuels. The request must contain justification for the distribution, an explanation of the benefit to be derived, and the intended date and performance for the distribution.

b) Should the Place Pick N carryover be designated for distribution on a specified date and performance in which there are no wagers selecting the first-place finisher in each of the Place Pick N contests, the entire pool shall be distributed as a single price pool to those whose selection finished first in the greatest number of Place Pick N contests. The Place Pick N carryover shall be designated for distribution on a specified date and performance only under the following circumstances:

1) Upon written approval from the State Director of Mutuels as provided for in subsection (a).

2) Upon written approval from the State Director of Mutuels when there is a change in the carryover cap, a change from one type of Place Pick N wagering to another, or when the Place Pick N is discontinued.

3) On the closing performance of the meet, split meet or successive or intervening race meeting at the same race track.

c) If, for any reason, the Place Pick N carryover must be held over to the corresponding Place Pick N of a subsequent meet, the carryover shall be deposited in an interest-bearing account approved by the State Director of Mutuels. The Place Pick N carryover plus accrued interest shall then be added to the net Place Pick N pool of the following meet on a date and performance designated by the State Director of Mutuels.

d) With written approval of the Board, the organization licensee may contribute to the Place Pick N carryover a sum of money up to any designated cap.

Ill. Admin. Code tit. 11, § 312.70