The following words and terms, when used in this chapter, have the following meanings, unless the context clearly indicates otherwise:

Administration of a common pari-mutuel pool—The performance of ministerial functions relating to a common pari-mutuel pool which may include computation of pool totals, odds and probable payoffs, allocation of funds for distribution to entities establishing the common pari-mutuel pool and preparation of accountings.

Common pari-mutuel pool—A pari-mutuel wagering pool administered in one jurisdiction which includes legal wagers of a single type placed in more than one jurisdiction on a race or series of races.

Establishment of a common pari-mutuel pool—The inclusion of wagers placed in different jurisdictions on a horse race into a single pari-mutuel pool.

Net amount wagered—The amount wagered reduced by the retention imposed under the laws of the Commonwealth or another jurisdiction.

Procedures established for the administration of the common parimutuel pool—The administrative procedures agreed to by the entities establishing a common pari-mutuel pool which may include the procedure for accepting wagers into the common pari-mutuel pool, distributing money from the common pari-mutuel pool, transmitting wagering information and transferring money between the entities establishing the common pari-mutuel pool.