23 CAR § 357-605 – Steps in calculating the payoff in a place pool

(a)
1. (1) The commission authorized by law is deducted from the sum total wagered in the place pool.
2. (2) The balance is called the "net pool".
(b)
1. (1) The sum total of the amount wagered in the place pool on the horses placed first and second is deducted from the net pool.
2. (2) This gives a remainder, which is the profit or winnings.
3. (3) The said profit is divided into two (2) equal parts between those who wagered in the place pool, on the winner, and those who wagered on the horse that was placed second.
(c) Using the amount wagered in the place pool on the winner to place as a divisor and one-half (1/2) of the profits of the place pool as specified in subsection (b) of this section as a dividend, the quotient thus obtained is the profit per dollar wagered in the place pool on the winner to place.
(d) Using the amount wagered in the place pool on the horse placed second to place as a divisor and the other half of the profits as specified in subsection (b) of this section as a dividend, the quotient thus obtained is the profit per dollar wagered in the place pool on the second horse to place.
(e)
1. (1) In each of subsections (c) and (d) of this section, the profit per dollar wagered is the resultant.
2. (2) The sums wagered on the horses placed first and second must be returned, therefore add to the quotient the dollar taken out of the net pool in subsection (b) of this section.
3. (3) The result is the payoff for each dollar wagered on horses placed first and second in the place pool.