Notice Type
Authorities/Other Agencies of State
Notification of Approval of the Rules and Deduction Levels for the New Totalisator Sports Bet Product Effective 19th February 1999 Pursuant to the Racing Act 1971 and its subsequent amendments on the 15th day of December 1995, the New Zealand Racing Industry Board on the 14th day of October 1998 resolved to approve the rules and deduction levels for the new totalisator sports bet product, as set out below: POOLS SPORTS BETTING RULES 13.6 ``Pools'' BET TYPE (At the time of gazetting the name for the new ``Pools'' bet type had not been confirmed.) 13.6.1 Interpretation In this rule, unless the context otherwise requires: ``Amount Brought Forward'' means the amount of the First Division Pool from the previous ``Pools'' Game carrying forward to the next ``Pools'' Game in that Competition. ``Authorised Events'' means sporting events the TAB includes in a ``Pools'' Game under the TAB's agreements with various sporting bodies. ``Competition'' means the series of Games designated by the TAB as a Competition for the purposes of present and future Games of ``Pools'' bet type. ``Concession Dividend'' means the dividend declared for investments designated to win the Concession in a ``Pools'' Game. ``Concession Pool'' means 20% of the Dividend Pool. ``Dividend Pool'' means the sum of money placed as bets on a ``Pools'' Game less refunds and statutory deductions. ``First Division Dividend'' means the dividend declared for investments designated to win the First Division in a ``Pools'' Game. ``First Division Pool'' means 75% of the Dividend Pool, together with: (a) any previous First Division Pool which may have been carried forward in accordance with Rule 13.6.5 of these rules; and (b) any part or all of the Prize Reserve Pool which may have been added to the First Division Pool under Rule 13.6.6 of these rules. ``Game'' means a schedule of Authorised Events designated by the TAB to form a component part of a ``Pools'' Game. ``Normal Time'' means, for Authorised Events that are not abandoned or forfeited, the first point in time that the Authorised Event would cease if scores were not tied. If the scores are tied at the end of ``Normal Time'' any further scoring such as extra time or overtime will not be taken into account. ``Pools'' shall consist of a schedule of Authorised Events in which a number of different possible margins between the teams or players in each Authorised Event are offered. ``Prize Reserve Pool'' means 5% of the Dividend Pool. ``Winning Margin'' means the winning team, or player, and margin, or draw, as designated by the TAB in an Authorised Event. 13.6.2 Object of the Game The object of a ``Pools'' Game is to select the Winning Margin in all Authorised Events included in the Game. 13.6.3 Unit Of Investment The unit of investment for a ``Pools'' Game shall be $1. 13.6.4 Selection of Authorised Events Betting on a ``Pools'' Game may be conducted on such Authorised Events as the TAB determines from time to time. These Authorised Events may be all from one sporting code or a mixture from more than one sporting code as the TAB sees fit. At any time, the TAB may have Games for one or more Competitions of ``Pools'' available for sale. 13.6.5 Amount Brought Forward In the event of no investor selecting the Winning Margin in all Authorised Events of a ``Pools'' Game, the First Division Pool shall continue to carry forward to the next Game in a Competition until: (i) the First Division Pool can be divided amongst those investors selecting the Winning Margin in all Authorised Events in the Game; or (ii) the TAB determines a Game to be the last in a Competition whereby the Termination Rule (13.6.7) will apply. 13.6.6 Prize Reserve Pool The TAB may allocate any part, or all, of the Prize Reserve Pool to the First Division Pool of any ``Pools'' Game in the event that the Winning Margin in all Authorised Events are selected. 13.6.7 First Division Dividend Except where a ``Pools'' Game is to be terminated, the First Division Dividend shall be the First Division Pool divided by the number of units of investments selecting the Winning Margin in all Authorised Events of a ``Pools'' Game. 13.6.8 Concession Dividend Except where a ``Pools'' Game is to be terminated, the Concession Dividend shall be the Concession Pool divided by the number of units of investments selecting the most number, but not all, of Winning Margins in Authorised Events in a ``Pools'' Game. 13.6.9 Termination If the TAB determines a ``Pools'' Game the last in a Competition, dividends for that ``Pools'' Game will be paid out as follows: The First Division Dividend shall be paid to those units of investment with the most number of Winning Margins in Authorised Events of a ``Pools'' Game and shall be the First Division Pool divided by the number of winning units of investment. The Concession Dividend shall be paid to those units of investment selecting the next highest number of Winning Margins in the ``Pools'' Game, after that required for First Division, and shall be the Concession Pool divided by the number of winning units of investment. 13.6.10 Postponements And Abandonments Where any Authorised event of a ``Pools'' Game is not completed by the Tuesday after the date on which its was originally scheduled to be completed: (i) Investments made for that ``Pools'' Game shall be refunded. (ii) the Amount Brought Forward from any previous ``Pools'' Game shall be carried forward to the next ``Pools'' Game. 13.6.11 Authorised Events Forfeited In the case of a team or player forfeiting an Authorised Event, the opposing team or player shall be deemed the Winning Margin encompassing all of the winning margins offered for that team or player but excluding a draw. 13.6.12 Extra Time Provisions An Authorised Event shall be deemed to finish at the end of ``Normal Time'' with no points scored in extra-time or penalty shoot-outs considered. [tn,3] PICK THESCORE PROPOSED%NEW PRODUCT% [tn,3] Investment 100.00 100.00 Dividends 75.00 67.50 Deductions 25.00 32.50 Sports Levies 6.80[su'1'] 6.80 Govt Duty 5.00 6.50 G.S.T. 2.78 3.60 Margin 10.42 15.60 Retailers 3.54[su'2'] 3.54 Promotion, other costs and profit 6.88 12.06 [tn,3] [su'1'] 8% for Rugby, 5% for League - There will be an approximate 60/40 ratio. [su'2'] 3.8% for Agents, 2.5% for Sub-Agents - Assume a conservative 80/20 ratio. J. R. ALEXANDER, Chief Executive.
Publication Date
19 Nov 1998

Notice Number

1998-au8305

Page Number

4409