TITLE 11: ALCOHOL, HORSE RACING, LOTTERY, AND VIDEO GAMING
SUBTITLE B: HORSE RACING
CHAPTER I: ILLINOIS RACING BOARD
SUBCHAPTER a: GENERAL RULES
PART 318 FUTURE WAGER POOL

Section 318.10 Definition

Section 318.20 General Provisions

Section 318.30 Pool Calculations

Section 318.40 Dead Heats

Section 318.50 Refunds and Cancellations


AUTHORITY: Authorized by Section 9(b) of the Illinois Horse Racing Act of 1975 [230 ILCS 5/9(b)].


SOURCE: Adopted at 26 Ill. Reg. 8148, effective June 1, 2002.

 

Section 318.10  Definition

 

The Future Wager requires selection of the appropriate winning combination, depending on the type of pool of the Future Wager.

 

Section 318.20  General Provisions

 

a)         The organization licensee shall apply in writing to the State Director of Mutuels for approval to offer the Future Wager on a specified contest and shall not offer the wager until approval by the State Director of Mutuels has been granted.  The application shall include the date and time for the pool to be opened and closed, a description of the system for compiling the pool and calculating odds and payout prices, and the time interval for displaying the odds.

 

b)         The organization licensee, or, in the case of interjurisdiction common pool wagering, the host track, shall name the contestants included in each betting interest on which Future Wagers may be made and shall assign a program number to each betting interest.

 

Section 318.30  Pool Calculations

 

The appropriate pool calculation shall be used depending on the type of pool of the Future Wager.

 

Section 318.40  Dead Heats

 

The appropriate dead heat rules shall apply depending on the type of pool of the Future Wager.

 

Section 318.50  Refunds and Cancellations

 

a)         No refund shall be issued for Future Wager pool wagers on betting interests that do not start or finish the race.  No cancellations shall be permitted once the patron has left the window.  If the organization licensee is notified that a betting interest is unable to start the race and the pool is still open, the organization licensee shall immediately suspend betting on that betting interest.  Horses do not have to be nominated to the race to be included in the Future Wager.

 

b)         The entire Future Wager pool shall be refunded if:

 

1)         the applicable pool calculation rule regarding refunds dictates so; or

 

2)         the specified race is declared no contest by the stewards having jurisdiction over the specified race; or

 

3)         the specified race does not occur; or

 

4)         for whatever reason, the Future Wager pool cannot be determined and the payout price cannot be calculated.