Wyoming Administrative Code › Agency 038 - Wyoming Gaming Commission › Sub-Agency 0001 - Pari-Mutuel › Chapter 9 - RULES FOR PARI-MUTUEL BETTING › Section 9-4 - Calculation of Payoffs and Distribution of Pools - Live Events and Live Simulcast Events

Current through July 13, 2024
(a) General
(i) All permitted pari-mutuel wagering pools
				shall be separately and independently calculated and distributed. Takeout shall
				be deducted from each gross pool as stipulated by law. The remainder of the
				monies in the pool shall constitute the net pool for distribution as payoff on
				the winning wagers.
(ii) For each
				wagering pool, the amount wagered on the winning betting interest or betting
				combinations is deducted from the net pool to determine the profit; the profit
				is then divided by the amount wagered on the winning betting interest or
				combinations, such quotient being the profit per dollar.
(iii) Either the standard or net price
				calculation procedure may be used to calculate single commission pools, while
				the net price calculation procedure must be used to calculate multi-commission
				pools.
(A) Standard price calculation
				procedure:
SINGLE PRICE POOL (WIN POOL)
gross pool
= sum of wagers on all betting
						  interest - refunds
net pool
= gross pool x (1 - percent
						  takeout)
profit
= net pool - gross amount bet on
						  winner
profit per dollar
= profit/gross amount bet
						  on winner
$1 unbroken price
= profit per dollar + $1
PRICE SPLIT (PLACE POOL)
Profit is net pool less gross amount bet on all place
				  finisher. Finishers split profit 1/2 and 1/2 (place profit), then divide by
				  gross amount bet on each place finisher for two unique prices.
PROFIT SPLIT (SHOW POOL)
Profit is net pool less gross amount bet on all show
				  finishers. Finishers split profit 1/3 and 1/3 and 1/3 (show profit), then
				  divide by gross amount bet on each show finisher for three unique
				  prices.
Net price calculation procedure:
gross pool
= sum of wagers on all betting
						  interest - refunds
* for each source:
net pool
= gross pool x (1 - percent
						  takeout)
net bet on winner
= gross amount bet on
						  winner x (1 - percent takeout)
total net pool
= sum of all sources net
						  pools
total net bet on winner
= sum of all sources
						  net bet on winner
total profit
= total net pool - total net
						  bet on winner
profit per dollar
= total profit/total net
						  bet on winner
$1 unbroken base price
= profit per dollar +
						  $1
* for each source:
unbroken $1 price = $1 unbroken base price x (1 - percent
				  takeout)
PROFIT SPLIT (PLACE POOL)
Total profit is the total net pool less the total net amount
				  bet on all place finishers. Finishers split total profit 1/2 and 1/2 (place
				  profit), then divide by total net amount bet on each place finisher for two
				  unique unbroken base prices.
PROFIT SPLIT (SHOW POOL)
Total profit is the total net pool less the total net amount
				  bet on all show finishers. Finishers split total profit 1/3 and 1/3 and 1/3
				  (show profit), then divide by total net amount bet on each show finisher for
				  three unique unbroken base prices.
(iv) If a profit split results in only one
				covered winning betting interest or combinations it shall be calculated the
				same as a single price pool.
(v)
				Minimum payoffs and the method used for calculating breakage shall be
				established by the Commission.
(vi)
				The individual pools outlined in these rules may be given alternative names by
				each Permittee, provided prior approval is obtained from the
				Commission.