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