N.Y. Comp. Codes R. & Regs. tit. 9 § 4404.15

Current through Register Vol. 46, No. 45, November 2, 2024

Section 4404.15 - Calculation of odds and payoff prices

(a) Each corporation shall operate its system of off-track betting so as to result in the combination before the race of all off-track and on-track wagers into single statewide pools. In line with such purpose, each off-track betting corporation shall cause all pools, as are accumulated by such corporation, to be transmitted to the site of the statewide interface of such pool prior to the start of the race, and, in the case of pools carried at in-state tracks, all partial pools, as may be accumulated, to be transmitted to such track prior to such in-state track's first display of mutuel odds so that the on-track odds may accurately reflect all wagers to such time.

(b) If, for any reason, all wagers are not combined into a statewide pool before the start of the race:

(1) The payoff price shall be calculated at the site of the statewide interface upon the basis of all available data at such site at the start of the race, and shall be the payoff price on- and off- track statewide.

(2) Notwithstanding paragraph (1) of this subdivision, if such pool is exotic and conducted exclusively off-track, neither probable payoff prices nor the final payoff price shall be calculated until all statewide wagers have been transmitted to and received at the site of the statewide interface.

(c)

(1) If, as a result of paying the statewide price, a corporation's liability for payoff and track settlements is less than its net pool after takeout, such difference shall be added, as most feasible, to the next available statewide net pools of the same type for the same track, unless otherwise ordered by the commission.

(2) If, as a result of paying the statewide price, a corporation's liability for payoff and tract settlements will be greater than its net pool after take-out, such payoff and track settlement nevertheless shall be made, and such loss shall not be set off against monies gained pursuant to paragraph (1) of this subdivision. Nothing herein provided shall deprive any corporation, however, from independently seeking recovery of such liability from any party who may be responsible therefor.

(d) This section shall, whenever applicable, constitute an amendment to any inconsistent provisions in any plan of operation of an off-track betting corporation.

(e) The site of the statewide interface shall, in the case of wagers offered at a New York State track be that track, and in the case of other off-track wagers be operations center of the agreed upon off-track betting corporation or as designated by the commission.

N.Y. Comp. Codes R. & Regs. Tit. 9 § 4404.15