✨ Sports Betting Rules
"Official Result" is a ruling made by the official controlling body of a particular sport in respect of the result. Bets will be Settled on the Official Result unless stated otherwise.
"Podium Placing" indicates that betting on that event will be Settled according to the positions occupied on the podium at the completion of the event. If there is no podium ceremony, betting on that event will be Settled based on the Official Result immediately declared by the official controlling body. Subsequent protests, appeals or disqualifications will not be recognised or considered for betting purposes.
"Refund" refers to the situation when a competitor or team in an Authorised Event fails to participate and is not given a chance to win that event, notwithstanding the rule for competitors in a Fixed Odds Racing event – see Rule 12 CONDITIONS APPLICABLE TO FIXED ODDS RACE BETTING. In this case single bets are declared Void and Investments refunded. Selections in Multi bets will be allocated a price of $1.00.
"Settle" or "Settled" refers to the resulting and payment of Returns on a betting option.
"Void" refers to a situation where a selection does not take part or an Authorised Event does not take place in which case bets on these selections are declared Void and Investments are refunded.
"Withdrawal" refers to the situation when a competitor or team in an Authorised Event does not take part for any reason.
14.2 Purpose of Rules
The purpose of Rule 14 is to establish the conditions of sports betting under which Investors may bet on the result of an Authorised Event and for which result the Board has determined the Odds. Rule 14 is to be read subject to any specific provisions in Rule 15 SPORT SPECIFIC RULES and Rule 16 CONDITIONS APPLICABLE TO MULTI BETTING.
14.3 Setting the Odds
The Board shall at its discretion and from time to time set and vary Odds for any Authorised Event and in so doing shall not be obliged to set Odds to bear any relation to the level of betting already accepted for that Authorised Event.
14.4 Investment Value
The amount of Investment is an amount greater than or equal to the minimum Investment. See APPENDIX 1.
14.5 Acceptance of Fixed Odds Bets
(a) The acceptance by the Board of a bet in respect of any result at particular Odds shall not require the Board to accept any other bet upon the same result at similar Odds.
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NZ Gazette 2009, No 136
✨ LLM interpretation of page content
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Amendments to the Betting Rules
(continued from previous page)
🏭 Trade, Customs & Industry10 September 2009
Betting Rules, Racing Act 2003, New Zealand Racing Board, Fixed Odds Sports Betting, Sports Betting Conditions