New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle T - New York State Gaming Commission › Chapter I - Division of Horse Racing and Pari-Mutuel Wagering › Subchapter B - Harness Racing › Part 4122 - PARI-MUTUEL WAGERING › Section 4122.38 - Parlay betting

Current through Register Vol. 46, No. 28, July 10, 2024
(a) When
					 consistent with the public interest and the best interests of racing generally,
					 with permission of the commission, the track operator may offer parlay betting
					 as a service to the betting public.
(b) The parlay is not a pari-mutuel pool. The
					 parlay is a series of bets combining betting entries in win, place, show or
					 proposition pools in each of two or more separate races in chronological order.
					 The initial amount bet constitutes the bet on the first betting entry in the
					 first parlay race (leg); if successful, the payoff from winning the first leg
					 (to the lowest penny) is then bet on the betting entry designated in the second
					 leg; if again successful, and if the parlay continues, the payoff from winning
					 the second leg is then bet (to the lowest penny) in the third leg;
					 etc.
(c) A parlay bet may combine
					 any of the races on the program and must combine at least two and not over
					 eight races. Bets are limited to win, place, show or proposition pool types for
					 which a corresponding pool is conducted on the race selected. The races in a
					 parlay must be chronological but need not be consecutive nor combine the same
					 type pool. The parlay shall be designated on one pari-mutuel ticket that may
					 also evidence other parlay bets combining the same races. A parlay bet ticket
					 must contain all win, place or show bets without any proposition bets or all
					 proposition bets without any win, place or show bets.
(d) A parlay bet may not combine bets in the
					 same race or earlier races (so-called reverse bets) nor on races on other
					 programs.
(e) While payoffs
					 inserted as bets in subsequent races are broken to the lowest penny (unlike
					 regular payoffs), payoffs to the parlay bettor shall be broken to the lowest
					 dime. Resulting parlay breakage shall be reported separately and added to
					 regular breakage at the end of the program for the purpose of taxation and
					 distribution.
(f) Parlay payoffs
					 will be so inserted as bets in subsequent pools by the track operator that the
					 amount of such bets, including their effect on the betting odds, will be
					 displayed as soon as possible after the initial change of the morning line
					 display. (Bet totals in such pools shall be displayed in truncated fashion, to
					 the lowest dollar.)
(g) If any
					 taxing authority requires the withholding of any portion of a winning parlay
					 payoff prior to the completion of all bets in the parlay, such parlay shall
					 thereupon terminate at such point and be payable to the ticket holder without
					 further completion, selections in future races being voided. Such consequence
					 shall be publicly announced and prominently displayed by the track operator who
					 shall inform the public by explanation and examples of the operation of this
					 subdivision before the start of the racing program.
(h) Parlay wagers may be cancelled by the
					 ticket holder, in accordance with track policy on cancellations, only prior to
					 the start of the first parlay race in which a parlay selection starts.
					 Thereafter, the parlay must either be completed or be terminated by operation
					 of these rules in order to be entitled to a payoff. The holder of the parlay
					 ticket shall not have the option to cash in such bet prior to completion after
					 a designated parlay entry actually starts in a race.
(i) If a race, pool or betting entry in a
					 parlay is scratched (which includes an entry being declared a nonstarter for
					 betting purposes, or a race or pool being declared "off") the parlay shall be
					 constituted by the remaining legs; if there are no remaining legs, the parlay
					 terminates.
(j) A bet on a coupled
					 entry or field is considered a bet on the remaining part of such coupled entry
					 or field in the event any part of such entry or field starts for pari-mutuel
					 purposes in accordance with section
					 4122.27 of this Part. Parlay
					 tickets incorporating an entry or field in which a scratch occurs are
					 refundable only in accordance with subdivision (h) of this section.
(k) Copies of this section shall be made
					 available to the public by the track operator.