Racing Control

Manawatu Times, Volume LV, Issue 7009, 19 November 1932, Page 7

Racing Control

WIN AND PLACE BETTING AUTHORISED. * REGULATIONS ISSUED Per Press Association. WELLINGTON, Nov. 18. A resolution authorising racing clubs to compute dividends on the system of a win, and a place has been adopted by the Executive Committee of the Racing Gonferenco and regulations carrying into effect the resolution were issued to-day. The authority, like that of the special resolutions providing for payment of first, second and third dividends, is optional and the system is only a farther alternative method of computing dividends. The win and place system may operate only where there are five or moro tote numbers. Investments shall be received separately for a win and a place and he shown and dealt with as separato pools. The whole amount of a win, less taxation, will be divided among the backers of the winner. In the case of the place pool such amount will be divided into two equal parts for backers of first and second horses in fields of five, six and seven runners; three equal parts for backers of first, second and third horses in fields over seven; if there are dead heats for any places, the placo pool will be divided into as many, equal parts as there arc horses in the first three places and allotted accordingly.