What is U.S. common pool wagering and how does it benefit me?
Common pool wagering allows money wagered in Canada on a U.S. track to commingle or merge with money wagered throughout the U.S. As a result, the pools are much larger and therefore the payoffs could potentially be much larger as well.
Why are some pari-mutuel rules different from one track to another?
“Host rules apply”. This means that when betting into U.S. pools, we must abide by each state’s rules and regulations. These will vary from state to state and will be different from what we use in Canada.
Where can I find the host track’s rules and regulations?
Links to the host track’s rules and regulations can be found at www.WoodbineEntertainment.com. For those of you who do not have internet access, please see a customer service representative to address specific questions.
I’ve heard about a teller cancel delay. What is it?
The purpose of the “teller cancel delay” is to allow tellers to cancel mis-issued bets but has the effect of delaying the transmission of final pari-mutuel pools, which in turn delays the posting of final odds. Should a significant cancellation occur, payouts on winning bets may be affected. CPMA rules do not allow teller cancel delays in Canada.
Do I have to bet in U.S. dollars? Am I paid in U.S. dollars?
No, you can continue to wager in Canadian dollars and you will be paid in Canadian dollars.
Why do you not display the Canadian odds channel on U.S. common pool tracks?
Since WEG plans to use the same takeout rates as the U.S. track for the display pools (Win, Exactor, Double, Quinella), we can use the odds and probables reflected on their live video. Should WEG use a different rate on other pools (e.g. Triactors, Superfectas), a separate price channel will be available.
Why might payoffs on some pools differ from that of the host?
Since some U.S. tracks have extraordinarily low takeout rates on some pools (e.g. Triactors, Superfectas) that do not accommodate the high mandatory deductions in Canada, WEG will use a minimum of 25% for the total takeout on these pools. This is a very common rate that is used by other U.S. tracks.
Can I participate in the guaranteed payoff wagers offered at US tracks?
Absolutely. If a track offers a guarantee on one of their pools that we offer, that guarantee also applies to Canadian customers.
Why are some of my payoffs a nickel higher than what is displayed on the video screens?
In the U.S., dollar prices are rounded to a dime whereas in Canada, those prices are rounded to a nickel. Canadian customers benefit from rounding to a nickel.
Am I required to pay U.S. tax withholding while wagering on a U.S. track?
No. Fortunately, the U.S. Internal Revenue Services’ 30% withholding tax on winning wagers was repealed for Canadian citizens and therefore you will not be subject to such tax.
Why can’t I bet my usual bet minimums on all U.S. common pool tracks?
WEG will make every effort to maintain the usual bet minimums, but it is ultimately a host track’s decision. Some U.S. tracks and or regulators insist that Canadian minimums be higher, specifically on carryover pools such as the Pick 6, because the Canadian dollar is lower than the American dollar. Bet minimums that differ from our usual Canadian minimums will be noted in the program.
Net Pricing Calculations Questions
Will changing to Net Pool Pricing affect the way prices are calculated?
Yes, the algorithm used to calculate the prices is different under Net Pool Pricing. You should see little to no changes in prices under single priced pools such as Win, Ex,& Tri. Long shots tend to pay a little more and favourites tend to pay a little less in multi-priced pools such as Place and Show. However, amount paid out to the public is relatively the same.
Why can't I hand calculate the prices from the pool values on the tote board?
Since Net Pool Pricing uses a complex algorithm to calculate the prices there are many other variables that affect the calculation of the price which are not displayed on the tote board.
Why do some jurisdictions display different prices than the host track?
If a jurisdiction chooses to or is required to use different takeout rates and or breakage, prices at that jurisdiction will vary from the host. Jurisdictions using a higher takeout rate, will be displaying lower prices than the host.
Is Net Pool Pricing more susceptible to minus pools?
Due to the nature of the algorithm used in Net Pool Pricing on a split pool such as Place or Show, a heavy favourite will not drive the value down on the remaining runners as much as it does using the standard pricing method. This may result in the favourite paying $2.10 and the other horses paying more which is more favourable to the betting public. The negative break is then attributed to the wager and that association who bet down the favourite.
How can pools from two different currencies be merged together?
Net Pool Pricing allows for pools in different currencies to be merged together by applying a daily exchange rate before the foreign currency enters the pools and again to the prices before being paid to the public.
If the commission takeout in one jurisdiction is 20% and in another it is 25%, why are the
prices not different by 5%?
The host track calculates a network wide base price, which is sent to all jurisdictions. From there, each
jurisdiction applies their net factor (1-commission takeout %) to that base price and then their breakage rule before the customer price is determined. For more detailed information of how the prices are calculated please see RCI's model rules.