N.J. Admin. Code § 13:70-29A.6

Current through Register Vol. 56, No. 21, November 4, 2024

Section 13:70-29A.6 - Petitions to the Racing Commission to offer a single-pool wagering event

(a) A petition for approval to conduct a single-pool wagering event shall be in writing, and submitted to the Racing Commission for approval in advance of the event offering, by a single-pool wagering outlet. The petition shall set forth the race or races used to form the event, the single-pool wager placement type or types to be offered as part of the event, and the single-pool wager variety or varieties to be offered as part of the event. The petition shall explain, consistent with 13:70-29A.8, how any unawarded surplus is proposed to be distributed. The petition will further specify whether the odds calculation engine will directly support and conduct the calculation of odds in connection with the proposed single-pool wagering event, or whether the totalisator will be responsible for supporting and calculating some or all of such odds for any aspect of the proposed single-pool wagering event. The petition shall further specify, consistent with 13:70-29A.9, the method proposed by the single-pool wagering outlet to calculate the odds in the event of a dead heat finish in connection with any race or wager subject of the proposed single-pool wagering event.

(b) Where the petition of a single-pool wagering outlet, to conduct a single-pool wagering event, seeks approval for a number of races to form the event, which number of races has not been previously approved by the Racing Commission at a public meeting as part of a prior approval of a single-pool wagering event, the petition shall include documentation from the single-pool wagering provider evidencing that said number of races has been the subject of successful testing of the odds calculation engine for accuracy and reliability, which is to include a mathematical analysis of the odds calculation engine. The Commission, in its discretion and at cost to the single-pool wagering provider, may require that additional testing be conducted, which could include testing by an independent firm specializing in such testing, as determined on a case-by-case basis.

(c) Where a petition to conduct a single-pool wagering event seeks approval for a single-pool wager placement type to form the event, which single-pool wager placement type has not been previously approved by the Racing Commission at a public meeting as part of a prior approval of a single-pool wagering event, the petition shall include documentation from the single-pool wagering provider evidencing that said single-pool wager placement type has been the subject of successful testing of the odds calculation engine for accuracy and reliability, which is to include a mathematical analysis of the odds calculation engine. The Commission, in its discretion and at cost to the single-pool wagering provider, may require that additional testing be conducted, which could include testing by an independent firm specializing in such testing, as determined on a case-by-case basis.

(d) Where a petition to conduct a single-pool wagering event seeks approval for a single-pool wager variety to form the event, which single-pool wager variety has not been previously approved by the Racing Commission at a public meeting as part of a prior approval of a single-pool wagering event, the application shall include documentation from the single-pool wagering provider evidencing that said single-pool wager variety has been the subject of successful testing of the odds calculation engine for accuracy and reliability, which is to include a mathematical analysis of the odds calculation engine. The Commission, in its discretion and at cost to the single-pool wagering provider, may require that additional testing be conducted, which could include testing by an independent firm specializing in such testing, as determined on a case-by-case basis.

(e) Where a petition seeking Racing Commission approval to conduct a single-pool wagering implicates (b), (c), or (d) above, the petition of the single-pool wagering outlet shall include any certifications required by 13:70-29A.4(a)4 and 5.

(f) Where a petition seeking Racing Commission approval to conduct a single-pool wagering event implicates 13:70-29A.12(b), the petition shall set forth the take-out structure for the proposed single-pool wagering event.

N.J. Admin. Code § 13:70-29A.6