LAW AND PUBLIC SAFETY
NEW JERSEY RACING COMMISSION
Harness Racing
Superfecta
Carryover Method of Payment
Proposed Amendment: N.J.A.C. 13:71-27.59
Authorized By: New Jersey Racing Commission, Frank Zanzuccki,
Executive Director
Authority: N.J.S.A. 5:5-30
Calendar Reference: See Summary below for explanation of exception
to calendar requirement.
Proposal Number: PRN 2003 - 326
Submit written
comments by October 3, 2003 to:
Frank Zanzuccki, Executive Director
New Jersey Racing Commission
P.O. Box 088
Trenton, NJ 08625-0088
The agency proposal follows:
Summary
The New Jersey Racing Commission (Racing Commission) is interested
in obtaining public comment regarding the proposed amendment
to N.J.A.C. 13:71-27.59, Superfecta. The proposed amendment would
allow superfecta races, which are contests whereby bettors must
select the first four finishes in order, to include a carryover
method of payment. The rule amendment is being proposed due to
a notice of petition, for rulemaking from Donald R. Codey, Jr.,
General Manager, Freehold Raceway (see 34 N.J.R. 3655 (b)) and
the notice of action on that petition (see 34 N.J.R. 3995(a)).
As the rule exists now, the superfecta pool is paid in its
entirety to bettors selecting the first four finishers, in exact
order in a designated superfecta
race. If all bettors fail to select all four finishers in a superfecta race
correctly, the current rule pays bettors who select the first three finishers
correctly. If no tickets are sold selecting the first three finishers correctly,
the current rule pays bettors selecting the first two finishers and if no
tickets are sold selecting the first two finishers correctly,
the current rule pays
all superfecta tickets selecting the winning horse. In all these scenarios,
the entire superfecta pool is distributed.
The proposed superfecta rule amendment will allow permit holders
a choice to conduct superfecta wagering in the above manner,
which is currently the
method
used, or, after Commission approval, use a carryover method of pool distribution.
A permitholder must request and receive approval from the Commission for
a carryover to be attached to a superfecta race. Each superfecta race must
be
requested separately to the Commission for carryover status. The Commission
will judge each request on what it deems is in the best interest of racing
before granting approval for carryover status.
The carryover method requires that bettors must select all
four finishers in a superfecta race in order for the entire superfecta
pool to be distributed.
If no tickets are sold on the winning combination of the superfecta,
then the net pool shall be divided into two separate pools. Eighty
percent of
the net
pool shall be paid into a pool known as the “jackpot,” and carried
over to the next regularly scheduled superfecta race. The remaining twenty
percent of the net pool shall be paid into a pool known as the superfecta consolation
pool, and this pool will be equally divided among those ticket holders who
have selected the most winning finishers in exact order.
If tickets are sold on the winning combination of the superfecta,
the net pool shall have added to it any carryover monies from
previous
superfecta races,
and shall then be equally divided among those ticket holders.
As the Racing Commission has provided a 60-day comment period
on this notice of proposal, this notice is excepted from the
rulemaking
calendar
requirement
pursuant to N.J.A.C. 1:30-3.3(a)5.
Social Impact
The social impact of the proposed amendment will be positive
by allowing permit holders a choice of two methods of pool
distribution
regarding
superfecta events
which can be individually based on the clientele attending
their venue.
A positive impact gained from this amendment will also be realized
by the wagering public by providing a more interesting and
alternative superfecta
wager.
Economic Impact
The proposed amendment will likely have a positive economic
impact on the individual bettors of the superfecta and
the permit holders
who offer
it.
As carryover pools increase in value, more betting interest
is evidenced and consequently as bettors have a chance
to win bigger
money, the
permit holders
revenues will increase due to the increase in handle
into the superfecta pool.
Federal Standards Statement
A Federal standards analysis is not required because
the rules of racing are dictated by State statute
N.J.S.A. 5:5-22 et
seq. and
the proposed
amendment is not subject to any Federal requirements
or
standards.
Jobs Impact
The proposed amendment will likely have no impact
on the work force in the state. No jobs will
be gained or lost
due to the
proposed
amendment.
Agriculture Industry Impact
The proposed amendment will have no impact
on the agriculture industry in the state.
Regulatory Flexibility Statement
A regulatory flexibility analysis is not
required because the proposed amendment
imposed no reporting,
recordkeeping
or compliance
requirements
on small businesses
as defined in the Regulatory Flexibility
Act, N.J.S.A. 52:14B-16 et seq. The
track associations
affected
by the amendment
are not small
businesses,
as each
employs more than 100 people full-time.
Smart Growth Impact
The proposed amendment will not have
an effect on new growth into redevelopment
of older
urban and
suburban
areas, protect
existing
open space, conserve
natural resources, increase transportation
options and transit availability,
reduce automobile traffic and dependency,
stabilize property taxes or provide
affordable
housing.
Therefore,
the amendment will have
no impact
on the achievement
of smart growth or the implementation
of the State Development and Redevelopment
Plan.
Full text of the proposal follows
(additions indicated in boldface
thus; deletions
indicated in brackets
[thus]):
13:71-27.59 Superfecta
(a) The superfecta (or other approved name) is a form of pari-mutuel
wagering where each bettor selects, in order, the first, second,
third and fourth
placed horses in the designated superfecta race. The superfecta pool shall
be held entirely separate from all other pools, and is not part of a daily
double, exacta or other wagering pool. The permitholder may request the
approval of the Racing Commission to conduct a superfecta in
the carryover method
as provided in (l) below. All superfectas not approved for conduct in the
carryover method shall be conducted in the non-carryover method as provided
in (f) below.
(b) - (e) (No change).
(f) The net non-carryover superfecta pool shall be distributed
to winning wagers in the following precedence, based on
the official order of finish:
1. As a single price pool to those whose combination finished
in correct sequence as the first four different betting
interests; but if there are
no such wagers,
then:
2. As a single pool to those whose combination included, in
correct sequence the first three different betting interests;
but if there
are no such
wagers, then:
3. As a single price pool to those whose combination included,
in correct sequent, the first two different betting interests;
but if
there are
no such wagers,
then:
4. As a single price pool to those whose combination correctly
selected the first place betting interest only; but if there
are no such wagers,
then:
5. The entire pool of superfecta wagers shall be refunded
for that contest.
(g) - (k) (No change.)
(l) The net carryover superfecta pool shall be distributed
to winning wagers based on the following and in accordance
with
the official
order of finish:
1. If tickets are sold on the winning combination of the
superfecta, the net pool shall have added to it any carryover
monies from
previous superfecta
races,
and shall then be equally divided among those ticket
holders.
2. If no tickets are sold on the winning combination
of the superfecta, then the net pool shall be divided
into
two separate
pools. Eighty
percent of
the net pool shall be paid into a pool known as the
Jackpot, and carried over to
the next regularly scheduled superfecta race. The remaining
20 percent of the net pool shall be paid into a pool
known as the
superfecta
consolation pool,
and this pool equally divided among those ticket holders
who correctly selected
the first three finishers in exact order. If no ticket
has been sold correctly selecting the first three finishers
in
exact order,
then
the superfecta
consolation pool shall be paid to the first two finishers
in exact order, if no ticket
has been sold correctly selecting the first two finishers
in exact order, then the superfecta consolation pool
shall be
paid to those
ticket holders
who selected
the winning horse. In the event no ticket has been
sold correctly selecting the winning horse to finish first,
then the superfecta
gross pool (excluding
monies carried over from previous superfecta races)
shall be refunded.
3. If the superfecta gross pool is refunded in accordance
with the above-described rules, then all monies carried
over, if
any, shall
be held in escrow
until the next regularly scheduled superfecta.
4. If fewer than four horses finish, the payoff shall
be made from the superfecta consolation pool only,
and shall
be made
to holders
of tickets
correctly
selecting the actual finishing horses in exact
order, ignoring the balance of the selection.
In this event, the Jackpot will be carried over
to the next regularly scheduled superfecta race.
5. In the event the accumulated Jackpot has not
been distributed prior to the final day of the
meeting
in which the Jackpot
was generated, then the
accumulated
Jackpot and the net pool in the final superfecta
race of the meet shall
be distributed to closing day holders of superfecta
tickets who correctly select
the first four official finishers in exact order,
or if no ticket is sold as above described, to
those who
correctly
select the
first three
finishers
in
exact order, or if no ticket is sold as above
described to
those who correctly select the first two finishers
in exact order,
or if no ticket
is sold
as above described to those who correctly selected
the winning horse to finish
first.
In the event no ticket has been sold correctly
selecting the winning horse to finish first,
then the gross
superfecta pool
will be refunded
and the
Jackpot distributed equally to all closing day
superfecta ticket holders. |