New Jersey Administrative Code › Title 13 - LAW AND PUBLIC SAFETY › Chapter 70 - HORSE RACING › Subchapter 29 - MUTUELS › Section 13:70-29.64 - The Choose (N)

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The Choose
				(N) is a wager which requires that a patron select the first place winners in
				each of (N) races, with the letter (N) representing the number of races
				comprising the wager. The number of races comprising the Choose (N), and thus
				representing the letter (N), shall be determined by the racing association
				(licensee) offering the Choose (N). The number of eligible races, from which a
				patron in his or her discretion may place a Choose (N) wager, may equal or
				exceed the number of races comprising the wager (N) and shall be determined by
				the licensee. For example, where a licensee determines that the Choose (N)
				shall consist of selecting the first place winners in five races (that is, a
				Choose (5)), with nine eligible races for the patron to select from, the patron
				would be required to select the first place finishers in any five of the nine
				eligible races. A licensee may not offer a Choose (N) unless the format
				associated with the particular Choose (N) wagering event is first approved by
				the Racing Commission Executive Director (Executive Director), as required by
				(l) and (m) below. In approving any request of a licensee associated with a
				Choose (N), the Executive Director may impose such conditions as are consistent
				with the best interests of racing and the interests of the wagering
				public.
(b) The races eligible for
				a Choose (N) may be conducted on the same day or may extend over any number of
				days as determined by the licensee, and some races may be closed to Choose (N)
				wagering at the discretion of the licensee. The eligible races to a Choose (N)
				need not be consecutively contested races. In a Choose (N), the first race
				wagered upon by a patron as part of the wager may begin with any of the
				eligible races provided that the total number of eligible races remaining
				uncontested at the time the wager is placed equals or exceeds the number of
				races comprising the Choose (N). For example, in a Choose (6) with 10 eligible
				races, the following would be examples of permissible wagers: assuming none of
				the 10 eligible races have been conducted, a patron could select one horse as
				the first place winner in any six of the 10 eligible races (for example, the
				patron could wager on: races 1 through 6; races 2 though 4 and 6 through 8,
				etc.); and, assuming races 1 and 2 of the 10 eligible races have been
				conducted, the patron could select one horse to finish first in any six of the
				remaining eight eligible races (for example, the patron could wager on: races 4
				through 9; race 3, 5 and races 7 through 10, etc.). However, assuming the first
				five or more of the 10 eligible races in this example have been contested, a
				patron could not place any Choose (6) wager because the wager requires the
				selection of the first place finishers in six separate races.
(c) Each Choose (N) wagering pool shall be
				maintained separately from all other wagering pools offered by the licensee,
				and the proceeds to be paid on winning Choose (N) wagers shall be made only
				from the Choose (N) wagering pool. The Choose (N) wagering pool shall close
				after each Choose (N) eligible race, but shall reopen with respect to
				subsequent eligible races for the particular Choose (N) provided there are at
				least as many races remaining as required to be selected on a winning Choose
				(N) ticket. Following the conduct of all eligible races comprising any Choose
				(N), the Choose (N) wagering pool shall be distributed as follows:
1. A Choose (N) with no "carryover amount"
				requires that the "net wagering pool," which for purposes of this section means
				the amount of dollars wagered for the particular Choose (N) to be returned to
				the wagering public as winnings, be distributed immediately following the last
				eligible race of the particular Choose (N) offering. In such case, the Choose
				(N) "net wagering pool" shall be equally distributed to the holder or holders
				of Choose (N) tickets which correctly select each first place winner in each
				race (N) from the eligible races comprising the Choose (N). If no Choose (N)
				ticket correctly selects each first place winner in each race comprising the
				Choose (N), the "net wagering pool" of a Choose (N) with no "carryover amount"
				shall be equally distributed to the ticket holder or holders selecting the
				greatest number of first place winners of the races comprising the Choose
				(N).
2. A "carryover amount" is the
				portion of a Choose (N) "net wagering pool" which, in circumstances as set
				forth in this section, is carried over and added to the wagering pool in one or
				more designated subsequent Choose (N) offerings that also have a "carryover
				amount" feature. In an initial offering of a Choose (N) with "carryover amount"
				feature, as no "carryover amount" has then accumulated, 100 percent of the "net
				wagering pool" for that particular Choose (N) shall be equally distributed to
				the holder or holders of Choose (N) tickets which correctly select the first
				place winners in each race (N) comprising the Choose (N). However, if no Choose
				(N) ticket correctly selects the first place winner in each race comprising any
				Choose (N) with "carryover amount" feature: 25 percent of the "net wagering
				pool" for that particular Choose (N) shall be equally distributed to the holder
				or holders of Choose (N) tickets correctly selecting the greatest number of
				first place winners of the races comprising the Choose (N); and the remaining
				75 percent of the "net wagering pool" for that particular Choose (N) shall be
				added as the "carryover amount" portion of the wagering pool for a designated
				subsequent Choose (N) offering of the licensee. In any Choose (N) with a
				"carryover amount" feature, 100 percent of the "net wagering pool" for the
				particular Choose (N), plus any accumulated "carryover amount", shall be
				equally distributed to the holder or holders of Choose (N) tickets which
				correctly select the first place winners in each race (N) comprising the Choose
				(N).
i. With the written approval of the
				Racing Commission Executive Director, the licensee may contribute to the Choose
				(N) "carryover amount" a sum of money.
3. A Choose (N) with "carryover amount"
				feature, as described in (c)2 above, may with the prior approval of the
				Executive Director have its carryover capped at a designated maximum dollar
				level, as determined by the licensee. If the cap amount has not been reached,
				and no Choose (N) ticket correctly selects the first place winner in each race
				comprising the Choose (N): 25 percent of the "net wagering pool" for that
				particular Choose (N) shall be equally distributed to the holder or holders of
				Choose (N) tickets correctly selecting the greatest number of first place
				winners of the races comprising the Choose (N); and the remaining 75 percent of
				the "net wagering pool" for that particular Choose (N) shall be added as the
				"carryover amount" portion of the wagering pool for a designated subsequent
				Choose (N) offering of the licensee. If the "carryover amount cap" is reached,
				no additional money shall be added from the "net wagering pool" to the
				carryover amount in any subsequent Choose (N). In such event, and where no
				Choose (N) ticket correctly selects the first place winner in each race
				comprising the Choose (N) where the "carryover amount cap" has been reached,
				100 percent of the "net wagering pool" for that particular Choose (N) shall be
				equally distributed to the holder or holders of Choose (N) tickets correctly
				selecting the greatest number of first place winners of the races comprising
				the Choose (N), and the capped carryover amount shall be applied to a
				subsequent Choose (N) offering designated by the licensee. In any Choose (N)
				with a "carryover amount cap" feature, regardless of whether the cap amount has
				been reached, the "net wagering pool" for the particular Choose (N), plus any
				accumulated "carryover amount", shall be equally distributed to the holder or
				holders of Choose (N) tickets which correctly select the first place winners in
				each race (N) comprising the Choose (N).
i. A
				request to place a cap on a Choose (N) "carryover amount" may be approved by
				the Executive Director in the following circumstances: at the time a licensee
				first requests authorization to offer a Choose (N) pursuant to (l) below (that
				is, where the licensee seeks approval to offer a Choose (N) with "carryover
				amount cap" feature); and, where the licensee has previously had approved
				Choose (N) with "carryover amount" feature, where a carryover amount exists as
				a result of no one winning a prior Choose (N) offering, and the licensee seeks
				to impose a cap on the "carryover amount."
ii. With the written approval of the
				Executive Director, the licensee may contribute to the Choose (N) "carryover
				amount cap" a sum of money up to but not exceeding the designated
				cap.