784 NEW ZEALAND GAZETTE, No. 26 10 MARCH 2011

Change #1
Rule 3 INTERPRETATION is amended as follows:

3 Interpretation

(s) “Official Result” in the case of:

(i) an Authorised Event is a ruling in respect of the result made by the official controlling body of a particular sport as immediately declared after the event. Subsequent protests, appeals or disqualifications will not be recognised or considered for betting purposes. Bets will be Settled on the Official Result unless stated otherwise; and

(ii) a Race Meeting is the determination, made in accordance with the Rules of Racing, of the official placings of Race Entrants in a Race.

Change #2
Rule 3 INTERPRETATION is amended as follows:

3 Interpretation

(x) “Returns” means a sum of money that is paid out on a Fixed Odds Winning Selection and is, subject to Rules 12.5, 14.16 and APPENDIX 1, the product of Odds times Investment.

Change #3
Rule 7 RULES FOR ESTABLISHING AND OPERATING A BETTING ACCOUNT is amended as follows:

7.2 Establishing a Betting Account

(b) The applicant must be 18 years of age or older and must have their identity and age verified by the Board. The acceptable methods of verification by the Board of age and identity are specified in APPENDIX 2.

Change #4
Rule 7 RULES FOR ESTABLISHING AND OPERATING A BETTING ACCOUNT is amended as follows:

7.9 Payment of Dividends, Returns and Refunds

Dividends, Returns and Refunds will be credited to the Investor’s account in accordance with Rule 4.15.
There is a limit on the maximum Return for Fixed Odds Race Bets, Fixed Odds Sports Bets, Multi and Boxed Multi bets. Refer to Rules 12.5, 14.16, 16.1 and APPENDIX 1.

Change #5
Rule 12 CONDITIONS APPLICABLE TO FIXED ODDS RACE BETTING is amended by the addition of the following new rule:

12.1 Purpose of Rules

The purpose of Rule 12 is to establish the conditions of Fixed Odds Race Betting under which Investors may bet on the result of Fixed Odds Race Betting and for which result the Board has determined the Odds. Rule 12 is to be read subject to any specific provisions in Rule 16 CONDITIONS APPLICABLE TO MULTI BETTING.

Change #6
Rule 12 CONDITIONS APPLICABLE TO FIXED ODDS RACE BETTING is amended as follows:

12.2 Interpretation

“Fixed Odds Race Bet” is a bet type whereby the Investor bets on the result of an authorised Race and for which the Board has determined the Odds and includes both Futures Fixed Odds Race Betting and Final Field Betting, Driver/Jockey Challenge Betting, Head to Head Betting, Group Betting, Odds v Evens Box Numbers betting and special options that the Board may offer from time to time.

“Fixed Odds Race Betting” has a corresponding meaning.

Change #7
Rule 12 CONDITIONS APPLICABLE TO FIXED ODDS RACE BETTING is amended by the addition of the following new rule:

12.5 Limitation on maximum Return

There is a limit on the maximum amount that can be won by one Investor on Fixed Odds Race Bets, Multi and Boxed Multi bets. The current maximums are detailed in APPENDIX 1. These limits will apply to any one Investor in any one day’s business, and where there is a mix of products the lowest limit will apply. These limits will be applied even if the bet is struck and the calculated theoretical Return exceeds the maximum.

Should the Board have reason to believe that a number of bets have been placed by one Investor, or group of Investors acting together, backing the same combination of selections even if it is done in a series of bets, at a range of prices, over a number of days using different Betting Accounts or betting channels the total Return for all those bets combined will be limited to one single maximum Return.

Change #8
Rule 14 CONDITIONS APPLICABLE TO FIXED ODDS SPORTS BETTING is amended as follows:

14.1 Interpretation

“Official Result” is a ruling in respect of the result made by the official controlling body of a particular sport as immediately declared after the event. Subsequent protests, appeals or disqualifications will not be recognised or considered for betting purposes. Bets will be Settled on the Official Result unless stated otherwise.