Code of Maryland Regulations › Title 09 - MARYLAND DEPARTMENT OF LABOR › Subtitle 10 - RACING COMMISSION › Chapter 09.10.02 - Harness Racing › Section 09.10.02.02 - Definitions for Pari-Mutuel Betting

Current through Register Vol. 51, No. 14, July 12, 2024
A. In this chapter, the following terms have
				the meanings indicated.
B. Terms
				Defined.
(1) "Betting pool" means the
				accumulated total of all bets of the same type on the same race, or, if the
				type of bet encompasses more than one race, on the same races.
(2) "Breakage" means the remainder of the
				distributable pool after the will pay is calculated to the lowest multiple of
				10 cents.
(3) "Carry over" means a
				net pool, or any portion of it, which is purposefully not distributed and which
				is to be added to the net pool on the same type of bet whenever that bet next
				occurs.
(4) "Common pool" means the
				merging of a betting pool at the live site with the same betting pool at
				locations other than the live site.
(5) "Dead heat" means that the noses of two
				or more horses reached the finish line at the end of a race at the same
				time.
(6) "Distributable pool"
				means the net pool minus the dollar total of the successful bets.
(7) "Entry" means two or more horses grouped
				as a single betting interest because of the commonality of ownership or the
				commonality of a trainer.
(8)
				"Established minimum bet" means the smallest dollar amount required to place a
				particular type of bet which is established by a racing association or
				regulation.
(9) "Exacta"
				("Perfecta") means a type of bet in which the bettor selects two different
				betting interests to finish first and second in that exact order.
(10) "Field" means two or more horses grouped
				as a single betting interest because the number of separate betting interests
				in a race exceeds the maximum number of separate betting interests capable of
				being displayed on the totalisator board.
(11) "Live ticket" means a validly issued
				pari-mutuel ticket on an event which:
(a) Has
				not been run; or
(b) As a result of
				the event having been run, has had a value ascribed to the ticket, and the time
				period for the ticket's redemption has not expired.
(12) "Minimum pay" means a will pay in the
				amount of $1.05 per $1 bet.
(13)
				"Minus pool" means the amount by which the total minimum pay for all successful
				bets exceeds the distributable pool.
(14) "Net common pool" means the merging of a
				net pool at the live site with the same net pool at locations other than the
				live site.
(15) "Net pool" means
				the betting pool minus the takeout.
(16) "Official" means the purposeful posting
				of the final order of finish in a race by the judges or stewards.
(17) "Pari-mutuel betting" means the system
				of betting in which those who successfully bet on horses that finish in
				specified positions in an event proportionately share the net pool in which
				they participated.
(18) "Place"
				means a type of bet in which the bettor selects a betting interest to finish
				second or better.
(19) "Quad" means
				a type of bet in which the bettor selects four different betting interests to
				finish first, second, third, and fourth in that exact order.
(20) "Quinella" means a type of bet in which
				the bettor selects two different betting interests to finish first and second
				in either order.
(21) "Refund"
				means the amount bet that is deducted from the betting pool and returned to the
				bettor for cause.
(22) "Show" means
				a type of bet in which the bettor selects a betting interest to finish third or
				better.
(23) "Takeout" means the
				amount authorized by law to be deducted from a betting pool before its
				distribution to the winning bettors.
(24) "Triple" ("Trifecta") means a type of
				bet in which the bettor selects three different betting interests to finish
				first, second, and third in that exact order.
(25) "Will pay" means the calculated value of
				a successful bet at the established minimum.
(26) "Win" means a type of bet in which the
				bettor selects a betting interest to finish first.