New Zealand Gazette – 2013 – No. 24

Page 660

✨ Sports Pools Betting Rules

NEW ZEALAND GAZETTE, No. 24

28 FEBRUARY 2013

"Competition" means the series of Games designated by the Board as a Competition for the purposes of present and future Options of Sports Pools. Eg Rugby/Rugby League, Soccer.

"Dividend Pool" means the sum of money placed as bets on a Sports Pools Option less refunds and deductions.
See APPENDIX 1.

"First Division Dividend" means the Dividend declared for Investments designated to win the First Division in a Sports Pools Option.

"First Division Pool" means 88% of the Dividend Pool, together with:

(a) any previous First Division Pool which may have been carried forward in accordance with Rule 13.4.6 Amount Brought Forward; and

(b) any part or all of the Prize Reserve Pool which may have been added to the First Division Pool under Rule 13.4.7 Prize Reserve Pool.

"Minimum Unit" means the minimum unit of Investment as determined by the Board. See APPENDIX 1.

"Normal Time" is the first point in time that the Authorised Event would cease if the scores were not tied. Normal time can also be variously indicated in ways such as ‘80 minutes’, ‘90 minutes’ or ‘4 quarters’ or any other way, and is the standard match time plus added (or referee’s) time for stoppages and injury. Normal time does not include any form of extra time.

"Option" means a schedule of Authorised Events designated by the Board to form a component part of a Sports Pools Option.

"Prize Reserve Pool" means 12% of the Dividend Pool.

"Sports Pools" shall consist of a schedule of Authorised Events in which a number of different possible margins between the teams in each Authorised Event are offered.

"Winning Margin" means the winning team and margin, or draw, as determined by the Board in an Authorised Event.

13.4.2 Object of the Game

The object of Sports Pools is to select the Winning Margin in all Authorised Events included in the Option.

13.4.3 Unit of Investment

The unit of investment for a Sports Pools Option is the Minimum Unit or a multiple thereof.

13.4.4 Selection of Authorised Events

Betting on a Sports Pools Option may be conducted on such Authorised Events as the Board determines from time to time. These Authorised Events may be all from one sporting code or a mixture from more than one sporting code as the Board sees fit.

At any time, the Board may have Options on one or more Competitions of Sports Pools available for sale.

13.4.5 Provision of Details

The first listed team is the home team for an event on which Sports Pools betting is operated on by the Board. In certain situations, where a neutral venue may be used, the Board reserves the right to designate a home team.

If the home and away teams are incorrectly listed, any betting to that point will be declared void and bets refunded.

13.4.6 Amount Brought Forward

In the event of no investor selecting the Winning Margin in all Authorised Events of a Sports Pools option, or the sum of winning units of betting is less than the Dividend Unit then all or part of the First Division Pool shall carry forward to the next round of games in a Competition until:

(a) the sum of winning units of betting on a Sports Pools option of that Competition is greater than or equal to the Dividend Unit; or

(b) the Board determines an Option to be the last in a Competition whereby Rule 13.4.9 Termination will apply.

13.4.7 Prize Reserve Pool

The Board may allocate any part, or all, of the Prize Reserve Pool to the First Division Pool of any Sports Pools Option in the event that the Winning Margin in all Authorised Events are selected.

13.4.8 First Division Dividend

Subject to Rule 13.4.9 relating to termination, the First Division Pool shall be distributed as follows:

(a) The First Division Pool shall be distributed equally amongst those units of betting that have selected the Winning Margin in all Authorised Events of a Sports Pools Option, provided that the sum of those winning units of betting is equal to or greater than the Dividend Unit.

(b) Where the sum of winning units of betting is less than the Dividend Unit, the First Division Pool will be declared as the Dividend, and winning units of betting will receive their proportional share of the First Division Pool. The balance of the First Division Pool, less any Prize Reserve funds, will be carried forward and added to the First Division Pool of the next Sports Pools Option as determined by Board policy.

(c) If no units of betting have selected the Winning Margin in all Authorised Events of a Sports Pools Option, the First Division Pool in respect of that particular Sports Pools Option, less any Prize Reserve funds, shall be carried forward and added to the First Division Pool of the next Sports Pools Option as determined by Board policy.

Gazette.govt.nz — NZ Gazette 2013, No 24

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✨ LLM interpretation of page content

🏭 Amendments to Betting Rules (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsRacing Act 2003, Betting Rules, Sports Pools, Concessions, Dividends, Competitions, Investments

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