✨ Racing Board Betting Rules Amendments
9 NOVEMBER 2006
NEW ZEALAND GAZETTE, No. 132
3849
New Zealand Racing Board
Racing Act 2003
Amendments to the Betting Rules
Pursuant to section 52 of the Racing Act 2003, the New Zealand Racing Board hereby gives notice of the following amendments to the Betting Rules*.
Change #1
A new definition added to Rule 3.1 as follows:
(r) "Payout" means the amount that will be paid on a winning bet and includes any refunds due on that bet.
Change #2
Rule 4.1 amended to:
4.1 Compliance with these Rules and Rules of Racing
The placing and acceptance of bets and the payments of Dividends, Returns and Refunds whether on the Totalisator or at Fixed Odds, must comply with these rules and the Rules of Racing.
Change #3
A new Rule 4.12 added as follows:
4.12 Denomination to which dividends will be rounded
The denomination to which dividends, refunds, returns and payout amounts will be rounded shall be determined by the Board and may be varied from time to time at the discretion of the Board. See Appendix 1.
Change #4
A new Rule 10.7.2 (d) added as follows:
(d) The reinvestment amount shall be truncated down to the nearest whole cent.
Change #5
Rule 10.8.5 amended to:
10.8.5 Payment of dividends and refunds in respect of Percentage Bets
A winning Percentage Bet will receive the product, rounded in accordance with Appendix 1, of, the declared Dividend, and the number of dollars that the Percentage Bet had invested on the winning combination.
The total amount due in Refunds to any Percentage Bet will be rounded in accordance with Appendix 1.
Change #6
Rule 12.3 (c) amended to:
(c) All Returns will be rounded in accordance with Appendix 1 where applicable.
Change #7
Rule 14.6 (f) amended to:
(f) All ticket Returns will be rounded in accordance with Appendix 1 where applicable.
Change #8
Rule 16.4 amended to:
16.4 Returns
Multi Odds are calculated by multiplying the Odds for each individual selection, then rounding up to the nearest cent.
The Multi Return is calculated by multiplying the Multi Odds by the Investment amount and rounding in accordance with Appendix 1.
Example: Auckland to beat Wellington is paying $1.70, Warriors to beat Canberra is paying $2, All Whites to beat Japan is paying $3.40.
Multi Odds = $1.70 x $2 x $3.40 = $11.56.
Multi Return for $20 Investment = $20 x $11.56 = $231.20.
Change #9
Appendix 1 is amended to:
APPENDIX 1
NB: The dividend, refund and return rounding is down to the amount stated in the table.
The Payout Rounding is down to the amount stated in the table:
| Bet Type | Dividend Unit | Statutory Deduction | Dividend, Refund, Return Rounding | Payout Rounding | % Betting? |
|---|---|---|---|---|---|
| Win | $1 | 14.50% | Nearest 10c | Nearest 10c | NO |
| Place | $1 | 14.25% | Nearest 10c | Nearest 10c | NO |
| Quinella | $1 | 21.00% | Nearest 10c | Nearest 10c | NO |
| Trifecta | $1 | 25.00% | Nearest 10c | Nearest 10c | YES |
| Double | $1 | 21.00% | Nearest 10c | Nearest 10c | NO |
Percentage betting minimum is the greater of $5, or 5c for each of the unique bet combinations purchased.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2006, No 132
Gazette.govt.nz —
NZ Gazette 2006, No 132
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🏭 Amendments to the Betting Rules under the Racing Act 2003
🏭 Trade, Customs & IndustryBetting Rules, Racing Act 2003, Amendments, Payout, Dividends, Refunds, Rounding, Totalisator, Fixed Odds, Percentage Bets, Multi Odds
- New Zealand Racing Board