Gazette.govt.nzPursuant to sections 76 and 78 of the Racing Industry Act 2020, TAB New Zealand hereby gives notice of the following amendments to the Betting Rules published as a Supplement to the New Zealand Gazette, 25 August 2003, No. 113, page 2981.
Deleted words are struck-out and in red.
Inserted words are underlined and in red.
These amendments to the Betting Rules are as follows:
[AMEND]
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7 RULES FOR ESTABLISHING AND OPERATING A BETTING ACCOUNT
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7.13 Privacy and Security of Account Betting
By establishing an account you agree to the provisions governing privacy of information and security as outlined in the TAB New Zealand Privacy PolicyGeneral Terms and Conditions for Accounts, which is available on TAB’s website.
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10 GENERAL RULES RELATING TO TOTALISATOR RACE INVESTMENTS
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10.6 Refund of Investments
(a) TAB shall refund bets only where at least one of the following Rules apply:
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(iv) APPENDIX 4 Rule 8 relating to a commingled event that is postponed;.
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(x) APPENDIX 4 Rule 10 relating to no investment on the winner of a Win pool when commingling;
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[CONSEQUENTIAL AND NECESSARY AMENDMENTS MADE: RULE 10.6(a)(v) to 10.6(a)(iv), RULE 10.6(vi) to 10.6(v), AND SO ON]
10 GENERAL RULES RELATING TO TOTALISATOR RACE INVESTMENTS
10.1 Interpretation
In Rules 10 and 11, unless the context otherwise requires –
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10.11 TAB National Syndicate
TAB may from time to time operate a TAB National Syndicate on one or more Race Meetings.
The TAB National Syndicate provides for Syndicate Investors to pool money together. Participation in the TAB National Syndicate is through the issuing of Syndicate Voucher.
This pool of money is then invested on Races at one or more Race Meetings by a person selected by TAB. Subject to Rule 10.11.12 any Dividends earned from the Investments are returned to the Syndicate Investors.
10.11.1 Interpretation
In Rule 10.11, unless the context otherwise requires:-
“Initial Syndicate Pool” means the sum of money placed in the TAB National Syndicate by the Syndicate Investors.
“Final Syndicate Pool” means the total sum of money available for calculation of the Syndicate Dividend and may include amounts from the Initial Syndicate Pool and winnings from Investments on the Race Meetings.
“Syndicate Account” is the Betting Account used for placing Investments from the Initial Syndicate Pool on the Race Meetings.
“Syndicate Dividends” means the amount payable from the TAB National Syndicate to each unit of Syndicate Share.
“Syndicate Investor” means a person who participates in a TAB National Syndicate.
“Syndicate Payout” means the amount that will be paid on a Syndicate Voucher
“Syndicate Share” means the unit invested by a Syndicate Investor in the TAB National Syndicate.
“Syndicate Voucher” is the receipt issued when a TAB National Syndicate Share is purchased and could be a physical ticket or a purchase registered against a Betting Account
“TAB National Syndicate” has the meaning set out in Rule 3.1.
10.11.2 Period of time when TAB National Syndicate is operating
(a) The TAB National Syndicate will be available for the purchase of Syndicate Vouchers before the Race Meetings for a period of time as determined by TAB.
(b) The TAB National Syndicate will be closed for the purchase of Syndicate Vouchers at a time determined by TAB. Once the TAB National Syndicate has closed, no Syndicate Vouchers will be sold.
10.11.3 Method of participating in TAB National Syndicate
(a) A Syndicate Investor must purchase a Syndicate Share and be issued a Syndicate Voucher to participate in a TAB National Syndicate
(b) By purchasing a Syndicate Share, the Syndicate Investor authorises TAB’s representative Investor to invest the Syndicate Share on behalf of the Syndicate Investor.
10.11.4 Unit of Syndicate Share
The unit of Syndicate Share shall be determined by TAB. See Appendix 1.
10.11.5 Syndicate Dividend Unit
The Syndicate Dividend Unit shall be based on a unit of Syndicate Share determined by TAB. See Appendix 1.
10.11.6 Minimum Syndicate Voucher Value
The minimum Syndicate Voucher value shall be determined by TAB and may be varied from time to time at the discretion of TAB. See Appendix 1
10.11.7 Denomination to which Syndicate Dividends and Syndicate Payout amounts will be rounded
The denomination to which Syndicate Dividends and Syndicate Payout amounts will be rounded shall be determined by TAB and may be varied from time to time at the discretion of TAB. See Appendix 1.
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10.11.8 Cancellation of Syndicate Voucher
(a) Syndicate Vouchers can be cancelled up until the TAB National Syndicate is closed.
(b) In the case of Syndicate Vouchers sold using the Internet or Touch Tone the Syndicate Investor must contact Phonebet, prior to the TAB National Syndicate being closed, to request the cancellation of the Syndicate Voucher.
10.11.9 Conditions relating to Syndicate Vouchers purchased for cash
(a) TAB’s agent in charge of any Totalisator Agency may declare at any time that the office is closed for the purchase of Syndicate Vouchers.
(b) Only bank notes, coins or such other instruments for payment as TAB may determine from time to time shall be accepted.
(c) On acceptance of the purchase by TAB, Syndicate Investors will be issued with a bet on a printed Syndicate Voucher which must be presented when claiming any Syndicate Dividend, or Refund due in respect of such Syndicate Voucher.
(d) Such Syndicate Vouchers will be printed to show the date of issue, the name designated for the TAB National Syndicate, Syndicate Voucher Value and such other particulars as may be required to identify the Syndicate Voucher recorded.
(e) Subject to the provisions of this Rule and Rule 10.11.8, the Syndicate Investor shall be deemed to accept the Syndicate Voucher issued to him or her unless he or she applies for the rectification of any error or omission in the Syndicate Voucher.
(f) Where any Syndicate Voucher is incomplete as to the required particulars, altered or defaced the details will be deemed to be those as recorded on TAB’s computer system.
(g) It shall be the sole responsibility of the Syndicate Investor to ensure that the details of the Syndicate Voucher are recorded in accordance with the Syndicate Investor’s intentions. By accepting a Syndicate Voucher, the Syndicate Investor shall be deemed to have accepted that the matters listed in Rule 10.11.9(d) above recorded on the Syndicate Voucher correspond to those that the Syndicate Investor requested.
(h) Any Syndicate Voucher, when presented for a Syndicate Dividend, Refund, cancellation, or for the correction of an alleged error, may be rejected without any payment made on the Syndicate Voucher if the Syndicate Voucher has been altered or defaced.
10.11.10 Conditions relating to Syndicate Vouchers purchased using a Betting Account
(a) Syndicate Vouchers may be purchased by using a Betting Account which has a credit balance. The Account Holder must ensure that the Betting Account has a credit balance and sufficient funds to cover the cost of the Syndicate Vouchers prior to placing the bets.
(b) The sum to be drawn from a Betting Account may not exceed the credit balance of the account. Purchase of Syndicate Vouchers on credit will not be permitted.
(c) Subject to the provisions of these Rules, the Account Holder shall be deemed to accept the Syndicate Vouchers issued to them as recorded against the account.
(d) Subject to Rule 7.11, TAB will investigate all claims alleging that Syndicate Vouchers have been placed incorrectly due to error by any employee of TAB.
(e) TAB will neither investigate nor accept any liability in respect of claims alleging that Syndicate Vouchers have been purchased incorrectly where such Syndicate Vouchers have been placed by means of Touch Tone or other automated telephone system used by TAB.
(f) Where an error by an operator employed by TAB results in the purchase of an incorrect Syndicate Voucher, the Syndicate Voucher will be deemed to be that which is recorded on TAB’s computer, notwithstanding the error. TAB will not be liable for any claim that is inconsistent with the computer record of the Syndicate Voucher in question. TAB may, however, at its complete discretion:
(i) Refund the Syndicate Voucher to the Account Holder; or
(ii) Credit the account up to the amount of the Syndicate Dividend, or Refund which would have been payable if the Syndicate Voucher had been placed correctly.
10.11.11 Operation of TAB National Syndicate
(a) After the TAB National Syndicate is closed for the purchase of Syndicate Vouchers, the Initial Syndicate Pool will be transferred to a Syndicate Account.
(b) Investments on the Race Meetings will be placed using the Syndicate Account by an authorised representative of TAB as determined by TAB from time to time.
(c) TAB will endeavour to inform Syndicate Investors through various means, as determined by TAB from time to time, the Investments made on the Race Meetings and the running balance of the TAB National Syndicate.
(d) The authorised representative of TAB who places the Investments has sole discretion for the Investments made on the Race Meetings on behalf of the TAB National Syndicate regardless of the amount of money in the Syndicate Account. However, such Investment will not exceed the balance of the Syndicate Account.
(e) Dividends earned from the Investments on the Race Meetings will be credited to the Syndicate Account.
(f) No funds other than Dividends from winning bets shall be added or introduced into the Syndicate Account once the Initial Syndicate Pool has been transferred.
(g) Investments can only be placed on the Race Meetings nominated by TAB as advised to Syndicate Investors.
(h) Any Initial Syndicate Pool money that is not Invested on the Race Meetings will be included in the Final Syndicate Pool for the purposes of Syndicate Dividend calculation.
(i) A Syndicate Dividend will only be calculated after the Race Meetings have ended
(j) Each Syndicate Share shall be entitled to a unit of the Syndicate Dividend.
10.11.12 Calculation of Syndicate Dividend
(a) The Syndicate Dividend will be calculated by dividing the money in the Final Syndicate Pool by the amount of money in the Initial Syndicate Pool. For example:
Initial Syndicate Pool transferred to Syndicate Account: $30,000
Final Syndicate Pool: $45,000
Syndicate Dividend calculation is $45,000/$30,000 = $1.50
(b) If the Syndicate Dividend is calculated to be less than ten cents (10c) then the Syndicate Dividend will be zero and no Syndicate Payout will be made.
10.11.13 Payment of Syndicate Dividends and Refunds
(a) Syndicate Dividends will be made available for collection, or, in the case of a Syndicate Voucher purchased through a Betting Account, credited to an account, as soon as practicable after the Syndicate Dividend is confirmed.
(b) If a Syndicate Dividend is subsequently altered then the Account Holder will be liable to TAB for repayment of the Syndicate Dividend and TAB may set off that liability against any credit funds in the account.
(c) In the case of cash Syndicate Vouchers, the procedure for payment of Syndicate Dividends and Refunds is as follows:
(i) Syndicate Dividends and Refunds will be paid in cash, or may at the option of TAB, be by cheque, or electronic transfer as determined by TAB. Payment shall be made in New Zealand currency.
(ii) Syndicate Dividends and Refunds will be paid on production of the Syndicate Voucher within six months of the date of issue of the Syndicate Voucher.
(iii) Syndicate Dividends and Refunds not claimed within six months of the date of issue of the Syndicate Voucher will be retained by TAB, provided that they can be claimed on production of the Syndicate Voucher and completion of a written claim form as required by TAB.
10.11.14 Abandonment and Postponement
(a) If all of the Race Meetings involved in the TAB National Syndicate are abandoned or postponed to another day prior to start of the meetings, all Syndicate Vouchers will be Refunded.
(b) If any of the Race Meetings involved in the TAB National Syndicate are abandoned or postponed to another day after the Race Meetings have started but before the conclusion of the Race Meetings, TAB, at its sole discretion will either continue the operation of the TAB National Syndicate on the remaining Race Meetings, or terminate the TAB National Syndicate and declare a Syndicate Dividend calculated on the money in the Final Syndicate Pool at that time
11 CONDITIONS APPLICABLE TO TOTALISATOR RACE BET TYPES
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11.13 Quaddie Betting
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11.13.8 Abandonments
(a) Where, after the scheduled start time of the first Quaddie Race, any Race in a Quaddie is abandoned, all Selections on that Race shall be deemed to be winners and the Dividend Pool will be divided on that basis, but:
(i) the Dividend Pool will not include any Bonus Supplement or Guaranteed Pool Shortfall; and
(ii) any Bonus Supplement or Guaranteed Pool Shortfall will be returned to the Code Prize Reserve Pool.
(b) Where all Races of a Quaddie are abandoned or where, prior to the scheduled start time of the first Quaddie Race, any of the Quaddie Races are abandoned:
(i) all units of Quaddie betting will be refunded. Refunds will not include any Bonus Supplement or Guaranteed Pool Shortfall; and
(ii) any Bonus Supplement or Guaranteed Pool Shortfall will be returned to the Code Prize Reserve Pool.
12 CONDITIONS APPLICABLE TO FIXED ODDS BETTING
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12.5 Returns
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(c) Subject to these Rules, and for the avoidance of doubt subject to the conditions relating to Starting Price Betting as outlined in Rule 14, the Odds for a Fixed Odds Bet will be determined at the time the bet is accepted.
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12.16 Multi Bets placed by Cash or Betting Voucher
Where an Investor places a Boxed Multi Bet using cash or a betting voucher, (i.e. not through a Betting Account):
(a) the betting ticket may consist of several “Any X” combinations but the Investor must also take the “All Legs” option. By way of example, if an Investor was taking a 3-Leg Boxed Multi the Investor would be required to take the “All 3” Multi in order to take the “Any 2” options; and
(b) if the Investor chooses to take a Percentage Boxed Multi Bet, the amount invested on each Multi Bet combination is calculated by the following formula:
Total Amount (in cents) nominated by Investor
divided by: Number of combinations selected by Investor
with the resulting number, in cents, rounded down to the nearest whole cent (the ‘Base Amount’).
All remaining cents, after the rounding occurs to determine the Base Amount (the ‘Leftover Amount’), will be applied (in addition to the Base Amount) to the “All Legs” option.
For the avoidance of doubt, the Leftover Amount is calculated by:
Total Amount (in cents) nominated by Investor
minus
(Base Amount (in cents) multiplied by number of combinations selected by Investor)
Example
If an Investor was taking a 3-Leg Percentage Boxed Multi Bet (with 4 bet combinations) for $1.10, the amount invested on each Multi Bet combination is calculated by the following formula:
110
divided by: 4
equals: 27.5 cents
Base Amount: 27 cents
Leftover Amount: 2 cents (calculated by 110 – (27 x 4))
Accordingly, the following amounts will be applied to each Multi Bet combination:
1. “All 3”, A x B x C; 29 cents (29%)
2. “Any 2”, A x B; 27 cents (27%)
3. “Any 2”, A x C; 27 cents (27%)
4. “Any 2”, B x C; 27 cents (27%)
12.16 Multi Bets placed by Cash or Betting Voucher
Where an Investor places a Boxed Multi Bet using cash or a betting voucher, (i.e. not through a Betting Account):
(c) the betting ticket may consist of several “Any X” combinations but the Investor must also take the “All Legs” option. By way of example, if an Investor was taking a 3-Leg Boxed Multi the Investor would be required to take the “All 3” Multi in order to take the “Any 2” options; and
(d) if the Investor chooses to take a Percentage Boxed Multi Bet, the amount invested on the Any X combinations is calculated by the following formula:
(Total Amount (in cents) nominated by Investor * number of combinations relating to the Any X combinations)
divided by: Number of combinations selected by Investor
with the resulting number, in cents, rounded down to the nearest whole cent (the ‘Any X Total Amount’). The Any X Total Amount is then spread across each Any X combination equally.
All remaining cents, after the rounding occurs to determine the Any X Total Amount (the ‘Leftover Amount’), will be applied to the “All Legs” option.
Example
If an Investor was taking a 3-Leg Percentage Boxed Multi Bet (with 4 bet combinations) for $1.10, the amount invested on each Multi Bet combination is calculated by the following formula:
(110 * 3)
divided by: 4
equals: 82.5 cents
Any X Total Amount: 82 cents
Leftover Amount: 28 cents (calculated by 110 – 82)
Accordingly, the following amounts will be applied to each Multi Bet combination:
1. “All 3”, A x B x C; 28 cents (28%)
2. “Any 2”, A x B; 27.33 cents (27.33%)
3. “Any 2”, A x C; 27.33 cents (27.33%)
4. “Any 2”, B x C; 27.33 cents (27.33%)
Total: 4 combinations $1.10 (110%)
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12.23 TAB National Syndicate
TAB may from time to time operate a TAB National Syndicate on one or more Races.
The TAB National Syndicate provides for Syndicate Investors to pool money together. Participation in the TAB National Syndicate is through the issuing of Syndicate Voucher.
This pool of money is then invested on Races at one or more Race Meetings by a person selected by TAB. Subject to Rule 12.23.12 any Dividends earned from the Investments are returned to the Syndicate Investors.
12.23.1 Interpretation
In Rule 12.23 unless the context otherwise requires:-
“Initial Syndicate Pool” means the sum of money placed in the TAB National Syndicate by the Syndicate Investors.
“Final Syndicate Pool” means the total sum of money available for calculation of the Syndicate Dividend and may include amounts from the Initial Syndicate Pool and winnings from Investments on the Races.
“Syndicate Account” is the Betting Account used for placing Investments from the Initial Syndicate Pool on the Races.
“Syndicate Dividends” means the amount payable from the TAB National Syndicate to each unit of Syndicate Share.
“Syndicate Investor” means a person who participates in a TAB National Syndicate.
“Syndicate Payout” means the amount that will be paid on a Syndicate Voucher
“Syndicate Share” means the unit invested by a Syndicate Investor in the TAB National Syndicate.
“Syndicate Voucher” is the receipt issued when a TAB National Syndicate Share is purchased and could be a physical ticket or a purchase registered against a Betting Account
“TAB National Syndicate” has the meaning set out in Rule 3.1.
12.23.2 Period of time when TAB National Syndicate is operating
(a) The TAB National Syndicate will be available for the purchase of Syndicate Vouchers before the Races, to which the TAB National Syndicate relates, for a period of time as determined by TAB.
(b) The TAB National Syndicate will be closed for the purchase of Syndicate Vouchers at a time determined by TAB. Once the TAB National Syndicate has closed, no Syndicate Vouchers will be sold.
12.23.3 Method of participating in TAB National Syndicate
(a) A Syndicate Investor must purchase a Syndicate Share and be issued a Syndicate Voucher to participate in a TAB National Syndicate
(b) By purchasing a Syndicate Share, the Syndicate Investor authorises TAB’s representative Investor to invest the Syndicate Share on behalf of the Syndicate Investor.
12.23.4 Unit of Syndicate Share
The unit of Syndicate Share shall be determined by TAB. See Appendix 1.
12.23.5 Syndicate Dividend Unit
The Syndicate Dividend Unit shall be based on a unit of Syndicate Share determined by TAB. See Appendix 1.
12.23.6 Minimum Syndicate Voucher Value
The minimum Syndicate Voucher value shall be determined by TAB and may be varied from time to time at the discretion of TAB.
12.23.7 Denomination to which Syndicate Dividends and Syndicate Payout amounts will be rounded
The denomination to which Syndicate Dividends and Syndicate Payout amounts will be rounded shall be determined by TAB and may be varied from time to time at the discretion of TAB. See Appendix 1.
12.23.8 No Cancellation of Syndicate Voucher
Syndicate Vouchers cannot be cancelled up until the TAB National Syndicate is closed.
12.23.9 Conditions relating to Syndicate Vouchers purchased for cash
(a) TAB’s agent in charge of any Totalisator Agency may declare at any time that the office is closed for the purchase of Syndicate Vouchers.
(b) Only bank notes, coins or such other instruments for payment as TAB may determine from time to time shall be accepted.
(c) On acceptance of the purchase by TAB, Syndicate Investors will be issued with a bet on a printed Syndicate Voucher which must be presented when claiming any Syndicate Dividend, or Refund due in respect of such Syndicate Voucher.
(d) Such Syndicate Vouchers will be printed to show the date of issue, the name designated for the TAB National Syndicate, Syndicate Voucher Value and such other particulars as may be required to identify the Syndicate Voucher recorded.
(e) Subject to the provisions of this Rule and Rule 12.23.8, the Syndicate Investor shall be deemed to accept the Syndicate Voucher issued to him or her unless he or she applies for the rectification of any error or omission in the Syndicate Voucher.
(f) Where any Syndicate Voucher is incomplete as to the required particulars, altered or defaced the details will be deemed to be those as recorded on TAB’s computer system.
(g) It shall be the sole responsibility of the Syndicate Investor to ensure that the details of the Syndicate Voucher are recorded in accordance with the Syndicate Investor’s intentions. By accepting a Syndicate Voucher, the Syndicate Investor shall be deemed to have accepted that the matters listed in Rule 12.23.9(d) above recorded on the Syndicate Voucher correspond to those that the Syndicate Investor requested.
(h) Any Syndicate Voucher, when presented for a Syndicate Dividend, Refund, cancellation, or for the correction of an alleged error, may be rejected without any payment made on the Syndicate Voucher if the Syndicate Voucher has been altered or defaced.
12.23.10 Conditions relating to Syndicate Vouchers purchased using a Betting Account
(a) Syndicate Vouchers may be purchased by using a Betting Account which has a credit balance. The Account Holder must ensure that the Betting Account has a credit balance and sufficient funds to cover the cost of the Syndicate Vouchers prior to placing the bets.
(b) The sum to be drawn from a Betting Account may not exceed the credit balance of the account. Purchase of Syndicate Vouchers on credit will not be permitted.
(c) Subject to the provisions of these Rules, the Account Holder shall be deemed to accept the Syndicate Vouchers issued to them as recorded against the account.
(d) Subject to Rule 7.11, TAB will investigate all claims alleging that Syndicate Vouchers have been placed incorrectly due to error by any employee of TAB.
(e) TAB will neither investigate nor accept any liability in respect of claims alleging that Syndicate Vouchers have been purchased incorrectly where such Syndicate Vouchers have been placed by means of Touch Tone or other automated telephone system used by TAB.
12.23.11 Operation of TAB National Syndicate
(a) Investments on the Races will be placed using the Syndicate Account by an authorised representative of TAB as determined by TAB from time to time.
(b) TAB will endeavour to inform Syndicate Investors through various means, as determined by TAB from time to time, the Investments made on the Races and the running balance of the TAB National Syndicate.
(c) The authorised representative of TAB who places the Investments has sole discretion for the Investments made on the Races on behalf of the TAB National Syndicate regardless of the amount of money in the Syndicate Account. However, such Investment will not exceed the balance of the Syndicate Account.
(d) Dividends earned from the Investments on the Races will be credited to the Syndicate Account.
(e) Other than amounts from the Initial Syndicate Pool, no funds other than Dividends from winning bets shall be added or introduced into the Syndicate Account.
(f) Investments can only be placed on the Races nominated by TAB, as advised to Syndicate Investors.
(g) Any Initial Syndicate Pool money that is not Invested on the Races will be included in the Final Syndicate Pool for the purposes of Syndicate Dividend calculation.
(h) A Syndicate Dividend will only be calculated after the Races have ended, unless otherwise notified by TAB.
12.23.12 Calculation of Syndicate Dividend
(a) The Syndicate Dividend will be calculated by dividing the money in the Final Syndicate Pool by the amount of money in the Initial Syndicate Pool. For example:
Initial Syndicate Pool transferred to Syndicate Account: $100,000
Final Syndicate Pool: $150,000
Syndicate Dividend calculation is $45,000/$30,000 = $1.50
(b) If the Syndicate Dividend is calculated to be less than ten cents (10c) then the Syndicate Dividend will be zero and no Syndicate Payout will be made.
12.23.13 Payment of Syndicate Dividends and Refunds
(a) Syndicate Dividends will be made available for collection, or, in the case of a Syndicate Voucher purchased through a Betting Account, credited to an account, as soon as practicable after the Syndicate Dividend is confirmed.
(b) If a Syndicate Dividend is subsequently altered then the Account Holder will be liable to TAB for repayment of the Syndicate Dividend and TAB may set off that liability against any credit funds in the account.
(c) In the case of cash Syndicate Vouchers, the procedure for payment of Syndicate Dividends and Refunds is as follows:
(i) Syndicate Dividends and Refunds will be paid in cash, or by electronic transfer as determined by TAB. Payment shall be made in New Zealand currency.
(ii) Syndicate Dividends and Refunds will be paid on production of the Syndicate Voucher within six months of the date of issue of the Syndicate Voucher.
(iii) Syndicate Dividends and Refunds not claimed within six months of the date of issue of the Syndicate Voucher will be retained by TAB, provided that they can be claimed on production of the Syndicate Voucher and completion of a written claim form as required by TAB.
13 CONDITIONS APPLICABLE TO FIXED ODDS SPORTS BETTING
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13.8 Basketball
13.8.1 Rules Applicable to US BasketballNBA, WNBA, NCAA and WNCAA only
(a) The team listed second in the name of the Betting Event, as listed on TAB’s website, is considered the Home Team or Team B for betting purposes, irrespective of which venue the event is played at. By way of example, if a Betting Event is listed as Chicago v Detroit, or Chicago @ Detroit, Detroit will be considered the Home Team or Team B in relevant Betting Options.
(b) Subject to Rule 12.13(b), if a match is abandoned or postponed:
(i) before tip off, all bets are void unless the match is rescheduled to take place within 24 hours of the original start time; or
(ii) after tip off, all bets are void unless the match is completed within 24 hours of the original start time but when there is still five minutes or more to play (as determined by the official time clock) then all bets are void.
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14 CONDITIONS APPLICABLE TO FIXED ODDS RACE BETTING
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14.2 Interpretation
In Rule 14, unless the context otherwise requires: –
“All In” betting means that a refund is not given for any bets on any Selection, regardless of whether or not the relevant entrant takes its, his, or her place in the relevant event.
“Deduction Formula” means the formula used to calculate the Final Field deduction. See APPENDIX 3.
“Driver/Jockey Challenge” has the meaning set out in Rule 14.10.
“Final Field Betting” TAB will operate Final Field Fixed Odds Race Betting when the betting option concerned is first made available after final acceptances have been declared for the Race concerned, and includes Starting Price Betting. “Final Field Bet” has a corresponding meaning.
“Final Field Deduction” means the whole number percentage obtained by truncating any fractional part from the application of the Deduction Formula, provided the Win Odds are less than or equal to the Maximum Deduction Odds. See APPENDIX 3
“Futures Fixed Odds Race Betting” TAB will operate Futures Fixed Odds Race Betting when the betting option concerned is first made available before final acceptances have been declared for the Race concerned.
“Named Driver/Jockey” means a driver or Jockey in the Driver/Jockey Challenge that is specified as a Selection (of Drivers/Jockeys) in the Betting Option. The ‘any other’ Selection is not a Named Driver/Jockey.
“Return Bearing Placings (RBPs)” : Like Dividend Bearing Placings for totalisator betting, RBPs are the number of placings in a Betting Option that Returns will be paid on:
– Final Field Win betting has one RBP; and
– Final Field Place betting will have the number of RBPs indicated on the Betting Option. For example:
- Final Field Top Two betting has two RBPs;
- Final Field Top Three betting has three RBPs; and
- Final Field Top Four betting has four RBPs;
– Futures Win betting has one RBP; and
– Futures Place betting will have the number of RBPs indicated on the Betting Option. For example:
- Futures Top Two betting has two RBPs;
- Futures Top Three betting has three RBPs; and
- Futures Top Four betting has four RBPs.
“Selection” has the meaning given in Rule 12.2.
“Starting Price Betting” is Final Field Betting where the Odds for the Final Field Bet are determined on the basis of the Odds offered for that Selection immediately prior to the start of the Race, and not when the Investor places the bet.
These Rules come into force on 23 May 2022.
Full copies of the Betting Rules may be inspected on request at TAB offices or downloaded from the TAB New Zealand website www.tab.co.nz.
Further enquiries can be made to TAB New Zealand, PO Box 38899, Wellington Mail Centre, Lower Hutt 5045.
Dated at Wellington this Wednesday 18th day of May 2022.
MIKE TOD, Chief Executive Officer of TAB New Zealand.