Minus Pool (Gaming Law) Law and Legal Definition
Minus pool is referred to a situation which occurs when a horse takes such a disproportionate amount of money that there is not enough money to pay the legally prescribed minimum on each winning bet. There will not be enough money in the total pool after the takeout is extracted. The racing association has to make up the difference so that all pay-offs are made at least the legally required minimum amount depending on the rules existing in each jurisdiction.
The following is an example of a state statute which defines the term ‘Minus pool’:
Pursuant to 3A Okl. St. § 200.1 [Oklahoma] "Minus pool" means a pari-mutuel pool in which, after deducting the take-out, not enough money remains in the pool to pay the legally prescribed minimum return to those placing winning wagers, and in which the organization licensee would be required to pay the remaining amount due.