71 Ind. Admin. Code 9-3-2

Current through October 23, 2024

Section 71 IAC 9-3-2 - Guest state participation in interstate common pools

Authority: IC 4-31-3-9

Affected: IC 4-31-7-8

Sec. 2.

(a) With the prior approval of the commission, pari-mutuel wagering pools may be combined with corresponding wagering pools in the host state or with corresponding pools established by one (1) or more other jurisdictions.

(b) The commission may permit adjustment of the takeout from the pari-mutuel pool so that the takeout rate in this jurisdiction is identical to that at the host track or identical to that of other jurisdictions participating in a merged pool.

(c) Where takeout rates in the merged pool are not identical, the net price calculation shall be the method by which the differing takeout rates are applied.

(d) Rules established in the state of the host association designated for a pari-mutuel pool shall apply.

(e) The commission shall approve agreements made between the association and other participants in interstate common pools governing the distribution of breakage between the jurisdictions.

(f) If, for any reason, it becomes impossible to successfully merge the bets placed into the interstate common pool, the association shall make payoffs in accordance with payoff prices at the host track; except that, with permission of the commission, the association may make payoffs in accordance with payoff prices that would have been in effect if prices for the pool of bets were calculated without regard to wagers placed elsewhere. With permission of the commission, the association may declare such accepted bets void and make refunds in accordance with these rules.

71 IAC 9-3-2

Indiana Horse Racing Commission; 71 IAC 9-3-2; emergency rule filed Feb 10, 1994, 9:20 a.m.: 17 IR 1183; emergency rule filed Mar 25, 1997, 10:00 a.m.: 20 IR 2161; readopted filed Oct 30, 2001, 11:50 a.m.: 25 IR 899; readopted filed Mar 23, 2007, 11:31 a.m.: 20070404-IR-071070030RFA; readopted filed November 26, 2013, 11:25 a.m.: 20131225-IR-071130345RFA

Readopted filed 8/28/2019, 1:23 p.m.: 20190925-IR-071190319RFA

Readopted filed 8/3/2023, 12:49 p.m.: 20230830-IR-071230428RFA