New Zealand Gazette – 2003 – No. 113

Page 3016

✨ Betting Regulations

NEW ZEALAND GAZETTE

No. 113

10.8 Percentage Betting

10.8.1 Interpretation

“Percentage Bet” means a bet where the Investor does not nominate a unit of Investment, instead they nominate the total amount they wish to outlay on the bet.

“Remainder” means the difference between the Total Amount Nominated, and the outcome of the Investment Formula multiplied by the number of combinations wanted.

10.8.2 Acceptance of Percentage Bets

The Board may determine bet types available for percentage betting. See Appendix 1.

10.8.3 Minimum Investment

The Board may determine a minimum Investment for percentage betting. See Appendix 1.

10.8.4 Investment Formula

The amount invested on the totalisator on each bet combination is calculated in accordance with the following formula, truncated to the nearest whole number:-

$$
\frac{\text{Total Amount (in cents) Nominated}}{\text{Number of combinations wanted}}
$$

Any Remainder will be invested at the rate of one additional cent per unique combination in accordance with the Percentage Priority Order until all of the Total Amount Nominated is invested. See Appendix 3.

3016

VUW Te Waharoa — NZ Gazette 2003, No 113

Gazette.govt.nz — NZ Gazette 2003, No 113

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✨ LLM interpretation of page content

🏭 Rules Relating to Totalisator Race Investments (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsBetting, Totalisator, Poker Bets, All Up Betting, Race Abandonments, Dividends, Refunds, Percentage Betting, Minimum Investment, Investment Formula

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