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 C - State Quarter Horse Racing Commission › Part 4216 - Pool Calculations › Section 4216.6 - 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, but
					 is a series of bets combining betting entries in win, place or show 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 six races. Bets are
					 limited to win, place or show 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 which may also evidence other parlay bets
					 combining the same races.
(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
					 4215.19 of this Title. 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.