| (a) The takeout authorized by law is deducted from the total
wagered in the place pool. The balance is the net pool.
(b) The amount wagered in the place pool on the race animals
that placed first and second is deducted from the net pool. The remaining
profits are divided into two equal parts, between the wagers on the winner
in the place pool and the wagers on the animal that finished second.
(c) With the amount wagered in the place pool on the winner
as the divisor and one-half of the profits of the place pool as the dividend,
the quotient is the profit-per-dollar wagered in the place pool on the winner.
(d) With the amount wagered in the place pool on the animal
finishing second as the divisor and one-half of the profits of the place pool
as the dividend, the quotient is the profit-per-dollar wagered in the place
pool on the animal finishing second.
(e) The profit-per-dollar wagered is the resultant. Because
the amounts wagered on the animals finishing first and second must be returned,
the amount deducted from the net pool under subsection (b) of this section
is added to the quotient. The result is the payoff price for each dollar wagered
on the animals finishing first and second in the place pool.
(f) If a race ends in a dead heat for first place, the place
pool shall be distributed in accordance with subsections (c) and (d) of this
section. If a race ends in a dead heat for second place, tickets on the first
place animal shall be paid in accordance with subsection (c), and the remaining
half of the place pool shall be distributed as a profit for split to holders
of tickets on any of the animals finishing in the dead heat for second place.
(g) If no money was wagered to place on an animal finishing
first or second in a race, the place pool shall be distributed among the holders
of the place tickets on the other animal that finished first or second. If
no money was wagered to place on either of the animals finishing first or
second in a race, the place pool shall be distributed among the holders of
tickets on the first and second place animals in the show pool. If the place
pool cannot otherwise be distributed in accordance with this section, the
money in the place pool shall be refunded.
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