**BETS**

**PARI SIMPLE ****SINGLE BET**

**Article** **22**

A single bet is a stake on one horse selected among the horses entered in a race. There are two types of single bets:

**1°)** "Simple Gagnant" (=“Single Win”) bets may be registered in all races involving at least two runners

**2°)** "Simple Placé” (=Single Place”) bets may be registered in all races involving more than three runners.

**Article** **23**

A “single win” bet is awarded a « win » dividend if the horse selected is classified first in the race, subject to the provisions of Article 24.

A “single place” bet is awarded a « place » dividend if the horse selected is:

- either one of the first two placed horses when the number of horses appearing on the official racecard is between four and seven inclusive;

- or, one of the first three placed horses when the number of horses appearing on the official racecard is equal to or more than eight.

**Article ****24 Bracketed horses. **

When two or more horses declared runners in the same race are avowed as “couplé” for Pari Mutuel purposes, they are said to be “bracketed”.

If one of these horses is classified first, all “single win” bets placed on the other runners of the bracket having run in the race are awarded the same “win” dividend.

**Article ****25 Dead Heat.**

In the case of a dead heat finish:

- « win » bets on all horses classified first are awarded a « win » dividend;

- « place » bets on all horses classified first and second in races with less than eight horses appearing on the official racecard and « place » bets on all horses classified first, second and third in races with eight or more horses appearing on the official racecard, are awarded a « place » dividend.

**Article ****26 - Non-runners.**

If, for any reason whatsoever, a horse originally declared a runner should not turn up when ordered by the Starting Judge, or if the latter should declare that horse no longer under Starters Orders, all « win » and « place » bets on that horse are refunded and the amount of those bets deducted from the « win » and « place » handles.

**Article ****27 - Calculation of dividends**

For every bet type, the total handle, after take-out of the proportional levy on betting and refunded bets, determines the hand-out pool.

Gross dividends are calculated as follows:

**1. Normal finish**

**a) Calculation of « win » dividend**

The hand-out pool is shared out in proportion to the number of bets wagered on the horse classified first.

When several horses are bracketed, stakes on these horses are added up to determine the single « win » dividend for all the horses of the bracket.

**b) Calculation of « place » dividends**

The amount of all bets on the various payable horses is first withdrawn from the hand-out pool. The remaining amount, called the share-out profit, is then divided into as many equal parts as there are payable horses. Each of these parts is thereafter shared out in proportion to the number of bets wagered on each of these horses. The quotients thus obtained, plus the stake unit, constitute the gross dividends for each of the payable horses.

**2. Dead Heat finish.**

**a) Calculation of « win » dividends**

In the case of several horses classified first, the amount of all bets on the various payable horses is first withdrawn from the hand-out pool. The remaining amount, called the share-out profit, is then divided into as many equal parts as there are horses classified first. Each of these parts is thereafter shared out in proportion to the number of bets wagered on each of these horses. The quotients thus obtained, plus the stake unit, constitute the gross dividends for each of the horses placed first.

When horses are bracketed, bets on the various horses of the bracket, and possibly the share-out profit concerning these horses, are combined to determine the single « win » dividend for all the horses of the bracket.

**b) ****Calculation of « place » dividends in races involving fewer than eight horses appearing on the official racecard. **

In the case of more than one horse being classified first, the share-out profit is divided into as many equal parts as there are horses classified first. Each of these parts is thereafter shared out in proportion to the number of bets wagered on each of these horses. The quotients thus obtained, plus the stake unit, constitute the gross dividends for each of the payable horses.

If there are several horses classified second, the share-out profit is divided into two equal parts, one allocated to the horse classified first, the other shared out into as many equal parts as there are horses classified second. Each of these parts is then shared out in proportion to the number of bets wagered on each one of these horses. The quotients thus obtained, plus the stake unit, constitute the gross dividends for each of the payable horses.

**c) ****Calculation of « place » dividends in races with more than seven horses appearing on the official racecard. **

If only one horse has been classified first and only one second , the share-out profit is divided into three equal parts, one third allocated to the horse classified first, one third to the horse classified second, and one third shared out again into as many equal parts as there are horses classified third. Each of these parts is then shared out in proportion to the number of bets wagered on each one of these horses. The quotients thus obtained, plus the stake unit, constitute the gross dividends for each of the payable horses.

If only one horse has been classified first and several horses second, the share-out profit is divided into two parts, one third allocated to the horse classified first and two thirds shared out again into as many equal parts as there are horses classified second. Each of these parts is then shared out in proportion to the number of bets wagered on each one of these horses. The quotients thus obtained, plus the unit stake, constitute the gross dividends for each of the payable horses.

If two horses have been classified first, the share-out profit is divided into three equal parts: one third allocated to each of the horses classified first and one third shared out again into as many equal parts as there are horses classified third. Each of these parts is then shared out in proportion to the number of bets wagered on each one of these horses. The quotients thus obtained, plus the unit stake, constitute the gross dividends for each of the payable horses.

If more than two horses have been classified first, the share-out profit is divided into as many equal parts as there are horses classified first. Each of these parts is then shared out in proportion to the number of bets wagered on each one of these horses. The quotients thus obtained, plus the unit stake, constitute the gross dividends for each of the payable horses.

**Article 29 Special cases**

**1°)** For “single win” bets, when several horses have been classified first in a race and no bets have been placed on one of these horses, the share-out profit allocated to that horse is shared out equally among the other horses classified first.

For “single place” bets, if no bets have been placed on one of the payable horses, the share-out allocated to that horse is shared out equally among the other payable horses.

**2°)** “Single win” bets are refunded if no bets have been placed on any one of the horses classified first.

“Single place” bets are refunded if no bets have been placed on any one of the “placed” payable horses.

**3°)** All “single place “bets are refunded when there are fewer than four runners in any one race.

**4°)** All “single win” bets and «single place » bets are refunded if no horse has been classified at the finish of a race.

When the number of horses classified at the finish is less than two for races involving four to seven runners inclusive, or less than three for races involving more than seven runners, the total “place” hand-out pool serves to calculate the dividends of only those horses classified at the finish.

**PARI "COUPLÉ" ****"COUPLÉ" BET**

**Article 41**

So-called « couplé win » ("Couplé gagnant") or « couplé place » ("Couplé placé") bets may be organised for certain events designated on the official racecard.

A « couplé win » or « couplé placé » is a bet on two horses selected in a single race, specifying whether it is a "couplé win" or a "couplé placé" bet. .

A « couplé win » bet is awarded a dividend if the two selected horses occupy the two first places of the race whatever the order of finish.

However, the official racecard may indicate that punters must select the two first horses of the race in the right order of finish.

In this case, registration of bets is limited to off-course Pari Mutuel Urbain services and outlets and to on-course betting windows offering this service.

In this latter case, a bet is awarded a dividend if the two selected horses occupy the two first places of the race and if they have been designated in the right order of finish.

A « couplé placé » bet is awarded a dividend if the two selected horses occupy two of the three first places of the race.

Each horse participating in that race is dealt with separately when determining the payable combinations.

**Article 42 Dead heat.**

In the case of a dead heat finish, payable combinations are as follows:

**1. « Couplé Win » bet:**

**a)**In the case of a dead heat for first place of two or more horses, the « couplé win » payable combinations comprise all those involving the dead heat horses classified first , taken two by two.

**b)**In the case of a dead heat for second place of two or more horses,in a race with no stipulated order of finish, the « couplé win » payable combinations comprise all those involving the horseclassified firstwith any one of the horses dead-heating for second place.

**c) **In the case of a dead heat for second place of two or more horses, in a race with astipulated order of finish, the « couplé win » payable combinations comprise all those involving the horse classified first and selected first by the punter, with any one of the horses dead heating for second place.

**d)**Inter-combinations of horses that dead heat for second place are not eligible for payment of a « couplé win » dividend, barring the provisions of Article 46-2. B,d).

**2. « Couplé Place » bet:**

**a)**When three or more horses dead heat for first place, « couplé placé » (= "couple place ") combinations, taken two by two, on all horses classified first, qualify for dividends.

**b)**When two horses dead heat for first place and one or possibly several are classified third, dividends are awarded to « couplé placé » combination bets involving, on the one hand, the two horses dead heating for first place and, on the other hand, each of the horses dead heating for first place with each of the horses classified third. On no account may third place dead heat inter-combinations be eligible for payment of a « couplé placé » dividend.

**c)**When two or more horses dead heat for second place, dividends are awarded to « couplé placé » combination bets involving on the one hand, the horse classified first, with each of the horses classified second and, on the other hand, the inter-combination bets on all horses classified second.

**d)**When two or more horses dead heat for third place, dividends are awarded to « couplé placé » combination bets involving the horses classified first and second, the horse classified first with each of the horses classified third, and the combinations bets involving the horse classified second with each of the horses classified third. On no account may third place inter-combinations be eligible for payment of a « couplé placé » dividend.

**Article 43 Non-runners**

**I. a)** « Couplé win » or «Couplé place » combinations in which the two horses were non-runners are refunded.

**b)** When a « couplé win » combination involves a non-runner and one of the horses classified first, a « special win » dividend is awarded as specified in Article 44, paragraph 3 hereunder.

The « couplé win » combinations involving a non-runner and a horse bracketed with one of the horses in first place are not eligible for the « special win » dividend.

**c) **When a « couplé placé » combination involves a non-runner and one of the two firsthorses, if there were fewer than eight runners in the race on the official racecard, or among the three first if there were at least eight horses on the official racecard, a « special placé » dividend is awarded as specified in Article 44, paragraph 3 hereunder.

**d)** However, the above provisions b. and c. do not apply to the "Full coverage" and "Part coverage" combination bets as laid down in Article 45 hereunder, where the banker is a non-runner. In the latter case, the corresponding wagers are refunded.

**II**.For the “couplé” bet, punters have the possibility of picking a reserve selection horse, pursuant to the provisions of Article 13, paragraph II of the present Regulation.

If the punter has not picked a reserve selection horse or if the picked reserve selection horse is a non-runner and if, in this latter case, concurrently, the bet placed by the punter comprises one or two other non-runners, the bet is dealt with as mentioned in paragraph I above.

If the punter has picked a reserve selection horse that does participate in the race and if, after this horse has replaced a non-runner, the bet placed by the punter comprises, in addition, one or two other non-runners, the provisions under paragraph I above shall apply.

**Article 44 Calculation of dividends**

For each type of bet, « couplé win » or « couplé placé », the amount of the proportional levy on betting and refunded bets is deducted from the total stake money.

The hand-out pool is obtained after deduction of payments on “single win” or “placé” bets, in application of the provisions under Article 43 and Article 44, paragraph 3, below.

Calculation of gross dividends is based as follows:

**1. « Couplé Win » bet**

**a) Normal finish:**

In the case of a single payable combination, the hand-out pool is shared out in proportion to the number of bets wagered on that combination.

**b) Dead heat finish:**

In the case of several payable combinations, the total stake money on these various combinations is taken out of the hand-out pool.

The share-out profit thus obtained is divided into as many equal parts as there are different payable combinations of the horses involved in the dead heat. Each of these parts is thereafter shared out in proportion to the number of bets wagered on each payable combination. The quotients thus obtained, plus the unit stake, constitute the gross dividends for each of the combinations.

**2. « Couplé Place » bet**.

The total stake money on the various payable combinations is taken out of the hand-out pool and the remaining amount constitutes the « share-out profit ».

**a) Normal finish:**

The share-out profit is divided into three equal parts. Each of these parts is thereafter shared out in proportion to the number of bets wagered on each of these combinations. The quotients thus obtained, plus the unit stake, constitute the gross dividends for each of these combinations.

**b) Dead heat finish:**

**1.** When three or more horses dead heat for first place, the share-out profit is divided into as many equal parts as there are different « couplé placé » payable combinations of the horses involved in the dead heat. Each of these parts is thereafter shared out in proportion to the number of winning bets on each one of these combinations. The quotients thus obtained, plus the unit stake, constitute the gross dividends for each of the payable combinations.

**2.** When two horses dead heat for first place and one or several horses are classified third, one third of the share-out profit is allocated to the combination of the two horses classified first, another third to the overall combinations of one of the horses classified first with each of the horses classified third, and one third is allocated to the overall combinations of the other horse classified first with each of the horses classified third. Each portion of the share-out profit thus defined is subsequently divided into as many equal parts as there are different payable combinations of the horses involved in the dead heat . Each of these parts is thereafter shared out in proportion to the number of winning bets placed on the corresponding payable combination. The quotients thus obtained, plus the unit stake, constitute the gross dividends for each of the payable combinations.

**3**. When two or more horses dead heat for second place, two thirds of the share-out profit are allocated to the overall combinations of the horse classified first along with each of the horses classified second and one third to the overall inter-combinations of horses classified second. Each portion of the share-out profit thus defined is subsequently divided into as many equal parts as there are different payable combinations of the horses involved in the dead heat . Each of these parts is thereafter shared out in proportion to the number of winning bets placed on the corresponding payable combination. The quotients thus obtained, plus the unit stake, constitute the gross dividends for each of the payable combinations.

**4. **When two or more horses dead heat for third place, one third of the share-out profit is allocated to the combination of horses classified first and second, another third to the overall combinations of the horse classified first with each of the horses classified third, and one third to the overall combinations of the horse classified second with each of the horses classified third. Each of the portions of the share-out profit thus defined is subsequently divided into as many equal parts as there are different payable combinations of the horses involved in the dead heat.Each of these parts is thereafter shared out in proportion to the number of winning bets on the corresponding payable combination. The quotients thus obtained, plus the unit stake, constitute the gross dividends for each of the payable combinations.

**3. Non-runners**

**1.** In races with or without stipulated order of finish**,** involving one or several non-runners, the « special win » dividend for the combination of the horse classified first (or, in the event of a dead heat, of one of the horses classified first) with any one of the non-runners, as specified under paragraph b) of Article 43 above, is equal to the “single win” dividend for that horse, subject to the provisions laid down in the following paragraphs 3 and 4.

**2**. Likewise, the « special placé » dividend for the combination of one of the horses qualifying for the first two or three places with any one of the non-runners, as provided for under paragraph c) of Article 43 above, is equivalent to the “single placé” dividend for that horse, subject to the provisions laid down in the following paragraphs 3 and 4.

**3.** The net « special win » dividend must not exceed the net « couplé win » dividend. In the event of a dead heat, each net « special win » dividend must be at the most equal to the lowest net « couplé win » dividend involving that same horse or equal to the highest net « couplé win » dividend if there is none involving that same horse.

Likewise, the net « special placé » dividend for the combination of one of the horses qualifying for the first two or three places with any one of the non-runners must be at the most equal to the lowest net « couplé placé » dividend involving that same horse or equal to the highest net « couplé placé » dividend if there is none involving that same horse.

In any other case, in application of the rules laid down under paragraphs 1 and 2 above, calculation share-out ensures that the « special win » or « special placé » dividends paid out to punters are respectively equal to the corresponding « couplé win » or « couplé placé » dividends.

**4.** In each of the above cases, the « special win » and « special placé » dividends paid out to punters may not be less than 1,10 € per unit stake, unless the provisions of Article 19 are applied.

The present provision shall apply in particular when refunding “single win” or « place » bets.

**Article 45 Combination bets**

Punters may register their bets either as « couplé win » or as « couplé placé ». The « à cheval" combination allows for registration of equal stakes on both types.

They may likewise register their « couplé » bets either in unit combinations, combining two of the officially declared runners, or in the so-called "multiple" or "coverage" combinations.

In this latter case, if the punters have to designate the first two horses of the race in the correct order of finish and if, concurrently, the bet is registered through the forms mentioned under **Chapter 4 a of Title IV **of the present Regulation, punters are to be notified as to the maximum number of horses allowed to be part of a combination.

**Multiple combination bets**

Multiple combinations comprise all “Couplé” bets inter-combining two by two a certain number of horses selected by the punter.

**a)** In the case of a « couplé » bet, either « win » without stipulated order of finish, or « placé » or « à cheval", if the punter selects K horses, the combination comprises:

K x (K-1)« couplé », « win », « placé » or « à cheval» bets.

** **2

**b) **In the case of a “couplé win” bet, with stipulated order of finish, the punter may wish to wager on each combination of two horses within his selection in a stipulated order of finish. The corresponding combination called “simple combination" comprises :

K x (K-1)« couplé win » bet.

** **2

If, for each combination of two horses among his selection, the punter wishes to wager on the two possible relative orders of finish, the corresponding combination bet called the "in-all-possible-order combination" comprises:

K x (K-1)« couplé win » bet.

**"One-horse coverage" combinations**

These categories encompass all « couplé » bets combining a banker selected by the punter with all the other horses officially declared runners (full coverage) -or with a selection of these same horses (part coverage).

**a)**In the event of a “couplé win” bet without stipulated order of finish, if the race comprises N official runners, the “full coverage" comprises (N - 1) « couplé » bets. In the case of “one-banker part coverage" with a selection of P horses, the bet comprises P “couplé” bets.

b) In the event of a “couplé win” bet with stipulated order of finish, if the race comprises N official runners, the “full coverage" comprises (N - 1) « couplé » bets in simple combination and 2 x (N-1) in-all-possible-order “couplé” combinations. The “one banker part coverage” with a selection of P horses comprises P simple-combination “couplé” bets in" and 2 P in-all-possible-order “couplé” combinations.

For the simplified "total or part coverage" combination bets, the punter must specify the actual place of finish of the banker.

**c) **The wager amounts of the “full coverage" combination bets are determined for each race according to the number of horses declared runners on the official racecard and on the official Pari Mutuel Urbain list, taking into account, where applicable, the horses declared non-runners at the time of registration of the bet.

**Article 46 Special cases**

**1**. When fewer than two horses are classified at the finish of a race, all « couplé win » and « couplé placé » bets are refunded.

**2. « Couplé win » bet**

**Normal finish without dead heat**

**a) **In the case of a race without stipulated order of finish and if there are no bets on the payable combination, the hand-out pool is shared out in proportion to the stakes on the horses classified first and third or, failing those, in proportion to the stakes on the horses classified second and third.In the absence of bets on the latter combination, all « couplé » bets are refunded, including those involving a non-runner, as provided for under Article 43.I b) above.

**b)** In the case of a race with stipulated order of finish and if there are no bets in the right order of finish on the combination of horses classified first and second, share-out is calculated in proportion to the stakes on the two same horses classified in reverse order : the combination second and first. Failing stakes wagered on this combination, share-out is calculated in proportion to the combination of the horses classified first and third in the right order, or again failing that, on the combination of the horses classified third and first;failing that, on the combination of the horses classified second and third, or finally, failing that, on the combination of the horses classified third and second.

In the absence of bets on the latter combination, all « couplé win » bets are refunded, including those involving a non-runner, as provided for under Article 43.I b) above.

**B) Dead heat finish**

**a)** In the case of a dead heat finish in a race with or without stipulated order of finish, if there are no bets on one of the payable combinations, the share-out profit corresponding to that combination is shared out in the same proportions among the other payable combinations.

**b) **When three or more horses dead heat for first place in a race with or without stipulated order of finish, if there are no bets on any of the payable combinations, all corresponding « couplé win » bets are refunded, including those involving a non-runner, as mentioned in Article 43.I b) above.

**c) ** When two horses dead heat for first place in a race without stipulated order of finish, if there are no bets on any of the payable combinations, the hand-out pool is shared out among the combinations of horses classified in first and third positions. In the absence of any such stakes, all « couplé win » bets are refunded, including those involving a non-runner, as mentioned in Article 43.I b) above.

In the case of a race with stipulated order of finish, likewise, the hand-out pool is shared out among the combinations of one of the horses classified first and selected in first place, with any one of the horses classified in third position. In the absence of any such stakes, share-out is calculated in proportion to the stakes on the combinations of the same horses in reverse order. Failing that, all « couplé win » bets are refunded, including those involving a non-runner, as mentioned in Article 43, paragraph b) above.

**d) ** When two or more horses dead heat for second place in a race without stipulated order of finish, if there are no bets on any of the payable combinations, the hand-out pool is shared out among the combinations of the horses classified dead heat for second place. In the absence of any such stakes, all « couplé win » bets are refunded, including those involving a non-runner, as mentioned in Article 43.I b) above.

In the case of a race with stipulated order of finish, likewise, the hand-out pool is shared out among the combinations of the horse classified first with any one of the horses classified second selected in first place. In the absence of any such combinations, the hand-out pool is shared out among the combinations of the horses classified dead heat for second place. Failing that, all « couplé win » bets are refunded, including those involving a non-runner, as mentioned in Article 43.I b) above.

**3. « Couplé placé » bet, with or without "dead heat"**

If there are no winning bets placed on one of the « couplé placé » combinations, the share-out profit of that combination is allocated in the same proportion among the other « couplé placé » payable combinations. Failing stakes on any of the « couplé placé » payable combinations, all “couplé placé” bets are refunded, including those involving a non-runner, as provided for under Article 43.I c) above.

**4.** **Postponed race**

Revoked by Regulation of 7 March 2011 amending Regulation of 13 September 1985 on Pari Mutuel on- and off-course rules

**PARI "TRIO"** **« TRIO » BET**

**Article 70**

For some events designated on the official racecard, three-horse combination bets without stipulated order of finish, called « Trio» bets, may be organised.

A « Trio » bet consists in selecting three horses in a single race without having to specify their order of finish.

Barring the specific provisions mentioned in Articles 71 to 74 below, they are subject to Articles 59 and 61 to 68 above, substituting the term "basic tiercé" dividend" by the term "trio dividend".

A « Trio » bet is awarded a dividend if the three selected horses occupy the three first places of the race, whatever their order of finish, apart from the cases mentioned under Articles 62 and 74.

**Article 71 Dead heat**

In the case of a dead heat finish, payable combinations are as follows:

**a) **In the case of a dead heat for first place of three or more horses, the payable combinations comprise all those involving the horses classified first, taken three by three.

**b) ** When two horses dead heat for first place and one or several horses are classified third, the payable combinations are all those involving the two horses classified first with each of the horses classified third.

**c) ** When two or more horses dead heat for second place, the payable combinations comprise the horse classified first with all the horses classified second, taken two by two.

**d) ** When two or more horses dead heat for third place, the payable combinations comprise the horse classified first and the horse classified second with each of the horses classified third.

**Article 72 - Calculation of dividends**

The amount of the proportional levy on betting and refunded bets is deducted from the total stake money.

The hand-out pool is obtained after deduction of payments due for “single win” and “couplé win” bets, in application of Articles 62 and 65.

Calculation of gross dividends is based as follows:

**1. Normal finish:**

The hand-out pool is shared out in proportion to the number of bets wagered on the payable combination.

**2. Dead-heat finish :**

In the case of several payable combinations, the total stake money on these various combinations is taken out of the hand-out pool. The share-out profit thus obtained is then divided into as many equal parts as there are different payable combinations of the horses involved in the dead heat. Each of these parts is thereafter shared out in proportion to the number of bets wagered on each payable combination. The quotients thus obtained, plus the unit stake, constitute the gross dividends for each of the payable combinations.

**Article 73 Combination bets**

Punters may register their «Trio » bets either as unit combinations combining three declared runners or in the so-called "multiple" or "coverage" combination bets.

These encompass all bets involving three by three inter-combinations of a number of horses selected by the punter.

If the punter selects K horses, the combination comprises:

K x (K - 1) x (K - 2)unit combinations.

6

The « two-horse coverage » combinations encompass all bets combining two bankers selected by the punter either with all the other declared runners (two-banker full coverage), or with a selection of these horses (two-banker horse part coverage).

If the race involves N official runners, the « two-banker full coverage » comprises (N - 2) unit combinations.

If this selection comprises P horses, the « two- banker part coverage » comprises P unit combinations.

The «one-horse coverage » combinations encompass all bets combining a banker selected by the punter either with all the other official runners, taken two by two, (one-banker full coverage) or with a selection of these horses (one-banker part coverage).

If the race comprises N official runners, the « one-banker full coverage » comprises:

(N - 1) x (N- 2) unit combinations

2

If the punter has selected P horses, the « one-banker part coverage » comprises:

P x (P - 1) unit combinations.

2

The wager amount of the « full coverage" combination bets is determined for each race on the basis of the number of horses declared runners by the official racecard and the official Pari Mutuel Urbain list of runners, taking into account non-runners at the time of bet registration, where applicable.

**Article 74 - Special cases.**

**a) **In the event of a dead heat, if one of the combinations of the three first classified horses has not been backed, the share-out profit corresponding to that combination is divided in equal proportions among the other payable combinations.

If none of the combinations of the three first classified horses has been backed, the hand-out pool is allocated to the combination of horses classified first, second and fourth or, failing that, on the combination of horses classified first, third and fourth, or failing that, on the combination of horses classified second, third and fourth.

If this latter combination has not been backed and as an exception to the provisions of Article 62 c), the hand-out pool is shared out in proportion to the stakes placed on the combinations of horses classified in the first two places with any one of the horses entered on the racecard.

Failing that, and as an exception to the ruling of Article 62 b), the hand-out pool is shared out in proportion to the total stakes placed on the horse classified first, with any two of the horses entered on the racecard.

If none of the latter combinations has been backed, all « Trio » bets are refunded.

**c)** If a race offering « Trio » bets involves one or several non-runners and if, in that race, « Couplé » bets were not registered or did not result in dividends for the combination of the two horses classified in the first two places at the finish, the special dividends foreseen under Article 65 (paragraph a) above, corresponding to that combination, or, in the case of a dead heat, for each combination of one of the non-runners with two horses classified in the first two places, are equal to half the lowest « Trio » dividend involving the same two horses; failing that, to half the highest « Trio » dividend involving one only of these two horses; or finally, failing that, to half the highest « Trio » dividend. These special dividends remain subject to the provisions in Article 65 (paragraph e).

**PARI "TRIO ORDRE" ****“TRIO BET IN THE RIGHT ORDER"**

**Article 74.1**

So-called "Trio Ordre" bets may be organised for certain events or some events designated on the official racecard.

A “Trio Ordre”bet consists in selecting three horses in a single race and specifying their order of finish.

A combination of three horses encompasses the six permutations of these three horses. In a normal finish, one of these permutations corresponds to the right order of finish while the five other permutations correspond to a finish in any order.

A “Trio Ordre” bet is awarded a dividend if the three selected horses occupy the first three places at the finish apart from the cases mentioned in Articles 74.4 and 74.8, and if the order selected by the punter corresponds to the in-the-right-order finish permutation.

Each horse taking part in that race is dealt with separately when determining the payable permutation.

**Article 74.3 - Dead Heat**

In the case of a dead heat finish, payable permutations are as follows:

- In the case of a dead heat of three or more horses classified first, the payable permutations of the “Trio Ordre” bet comprise all the permutations of each combination involving the horses classified first, taken three by three.

- In the case of a dead heat of two horses classified first and one or several horses third, the payable permutations of the “Trio Ordre” bet comprise the combinations in which the two horses classified first have been selected first or second with one of the horses classified third.

- In the case of a dead heat of two or more horses for second place, the payable permutations of the “Trio Ordre” bet comprise the combinations in which the horse classified first has been selected in first place with all the horses classified second taken two by two.

- In the case of a dead heat of two or more horses for third place, the payable permutations of the “Trio Ordre” bet comprise the permutations in which the horse classified first has been selected in first place and the horse classified second has been selected second with each of the horses classified third.

**Article 74.4 – Non-runners**

**I)** **a)**“Trio Ordre” combinations in which the three horses were non-runners are refunded.

**b)**When a “Trio Ordre” combination involves two non-runners out of the three horses selected, the bet is considered as a “Single win” bet on the third horse. It is awarded a special dividend as specified in Article 74.6 below, on condition that the horse in question is classified first at the finish.

On no account may a special dividend be awarded to combinations involving two non-runners and a horse bracketed with one of the horses classified first.

**c)**When a “Trio Ordre” combination involves one non-runner out of the three horses selected, the corresponding bet is considered as a “Couplé Ordre” bet on the two running horses. A special dividend is awarded as specified in Article 74.6 below, on condition that the two horses occupy the first two places at the finish, and that they have been selected in the right order of finish.

**d)** However, the rules laid down under paragraphs b) and c) above do not apply to the “full coverage and part coverage combination bets, in which all bankers are non-runners. In the latter case, the corresponding combination bets are refunded.

**II)**For the “Trio Ordre” bet, punters have the option of selecting a reserve horse in accordance with the provisions of Article 13, paragraph II, of the present Regulation.

If the punter has not selected a reserve horse, or if this reserve horse is a non-runner, and if, concurrently, in this latter case, the bet registered by the punter involves one or more other non-runners, the bet is dealt with in accordance with the provisions of paragraph I above.

If the punter has selected a reserve horse that does participate in the race and if, after this horse has replaced a non-runner, the bet placed by the punter comprises, in addition, one or more other non-runners, the provisions under paragraph I above shall apply.

**Article 74.5 – Calculation of dividends**

The amount of the proportional levy on betting and refunded bets is deducted from the total stake money.

The hand-out pool amount is obtained after deduction of payments due for bets registered as “Single win” bets and “Couple Ordre” bets, in application of Articles 74.4 and 74.6.

Calculation of gross dividends is based as follows:

**I.Normal finish **

The hand-out pool is shared out in proportion to the number of bets wagered on the payable permutation.

**"Dead heat" finish**

In the case of several payable permutations, the total stake money from these various permutations is taken out of the hand-out pool. The share-out profit thus obtained is then divided into as many equal parts as there are different payable permutations of the horses involved in the dead heat. Each of these parts is thereafter shared out in proportion to the number of bets wagered on each payable permutation. The quotients thus obtained, plus the unit stake, constitute the gross dividends for each of the payable permutations.

**Article 74.6 – Special dividends – Non-runners**

a)In races with one or more non-runners, the special dividend of the permutation or, in the case of dead heat, of each permutation involving either the horse classified first and selected in first place, with the horse classified second and selected in second or third place, or the horse classified first and selected in second place, with the horse classified second and selected in third place and any one of the non-runners as provided for under paragraph c) of Article 74.4 above, is equal to the “Couplé Ordre" dividend of those two same horses subject to the provisions of paragraphs b) and e) below.

b)The special net dividend, mentioned under paragraph a) above, must not exceed the net dividend of the “Trio Ordre” bet.

In the case of dead heat, each one of these net dividends must be at the most equal to the lowest net dividend of the “Trio Ordre” bet involving the same horses, or failing that, to the highest net dividend of the “Trio Ordre” bet involving only one of these horses, or failing that again, to the highest net dividend of the “Trio Ordre” bet.

If otherwise after application of the rule laid down in paragraph a) above, the share-out is calculated in such a way that each special dividend paid to punters is equal to the net dividend of the corresponding «Trio Ordre" bet.

**c)**The special dividend of the combination, or in the case of a dead heat of each combination of the horse classified first and of two of the non-runners, as provided for under paragraph b) of article 74.4 above, is equal to the “Single win” dividend of that horse, subject to the provisions of paragraphs d) and e) below.

**d)**The net dividend mentioned under paragraph c) above must not exceed the net dividend of the “Trio Ordre” bet.

In the case of a dead heat, each of these net dividends must be at the most equal to the lowest net dividend of the “Trio Ordre” bet involving the same horse, or failing that, if there is none involving this same horse, to the highest net dividend of the “Trio Ordre” bet.

If otherwise, in application of the Rule laid down in paragraph c) above, the share-out is calculated in such a way that each special dividend paid to punters is equal to the dividend of the corresponding “Trio Ordre” bet.

**e)**In each of the cases mentioned above, the special dividends corrresponding to paragraphs a), b), c) and d) above, may not be less than 1,10 € per unit stake, except where Article 19 applies. This provision refers especially to the refund of “Single win” and “Couplé Ordre” bets.

**Article 74.7 – Combination bets**

Punters may register their “Trio Ordre” bets, either as combined units combining three of the declared runners or as so-called “multiple" or “coverage" combinations.

These encompass all “Trio Ordre” bets involving three by three inter-combinations of a certain number of horses selected by the punter.

The punter may wish to wager on each three-horse combination within his selection in a stipulated relative order of finish corresponding to a single permutation. The corresponding combination bet, called the “simple combination", comprises:

K x (K-1) x (K-2) permutations of the selected horses

6

If, for each three-horse combination within the selection, the punter chooses the six possible relative orders of finish, the corresponding combination bet called "in-all-possible-order combination" comprises: K x (K-1) x (K-2) permutations of the selected horses.

The “two-horse full coverage” combinations encompass all “Trio Ordre” bets combining two bankers selected by the punter with all the other officially declared runners.

If the race involves N official runners, the “two-horse full coverage" comprises 6 x (N-2) permutations of the horses selected in-all-possible-order combination and (N-2) permutations of the horses selected in a simple-combination bet. In the latter case, the punter specifies the respective order of finish of the two bankers of his selection.

The “two-horse part coverage combination” formulas encompass all “Trio Ordre” bets combining two bankers with a selection by the punter of the other officially declared runners.

If the selection involves P horses, the “two-horse part coverage” comprises 6 P “Trio Ordre” bets in-all-possible-order combination and P “Trio Ordre” simple-combination bets. In the latter case, the punter furthermore specifies the respective order of finish of the two bankers in his selection.

The “one-horse full coverage" combinations encompass all “Trio Ordre” bets combining one banker selected by the punter together with all the other officially declared runners taken two by two.

If the race comprises N official runners, the “one-horse full coverage” comprises: 3 x (N-1) x (N-2) permutations of the horses selected in-all-possible-order combination and (N-1) x (N-2) permutations of the horses selected in a simple-combination bet. In the latter case, the punter specifies the actual place of finish of the banker in his selection, but does not have to classify the other horses in a relative order since each three-horse combination comprises the two permutations of the horses other than the banker in the two possible orders.

The “one-horse part coverage” combinations encompass all “Trio Ordre” bets combining a banker with a selection of officially declared runners taken two by two.

If the selection involves P horses, the “one-horse part coverage ” comprises 3 x P x (P-1) permutations of horses selected in-all-possible-order combination bet and P x (P-1) permutations of the horses selected in a simple-combination bet. In the latter case, the punter specifies the actual place of finish of the banker in his selection but is not required to specify the relative order of finish of the selected horses, since in each three-horse combination there are the two permutations of the horses other than the banker in the two possible orders of finish.

The wager amount of the “full coverage” combinations are determined for each race depending on the number of runners declared on the official racecard and on the Pari Mutuel Urbain official list of runners, taking into account, where applicable, the horses declared non-runners at the time of the bet registration.

**Article 74.8 – Special cases**

- All “Trio Ordre” bets, including those mentioned under Article 74.4 above, are refunded when less than three horses are classified at the finish.

**Normal finish without “Dead Heat”.**

In a race with “Trio Ordre” bets, when there are no bets on the permutation of the first three horses selected in the right order of finish, the hand-out amount is shared out in proportion to the stakes placed on the combination of these same three horses selected in first, third and second place. In the absence of bets on the latter permutation, hand-out is shared out in proportion to the stakes placed on the combination of these same three horses selected in third, second and first place; failing that again, on the permutation of the same three horses selected in second, first, and third place.

If this latter combination has not been backed, the hand-out pool is shared out in proportion to the total stakes on the permutations of the same three horses selected second, third and first, and in third, first and second place.

Failing that, and as an exception to the ruling of Article 74.4.I c) the hand-out pool is shared out in proportion to the total stakes placed on the horse classified and selected first with the horse classified and selected second together with any one of the horses entered on the official racecard.

Finally, failing that, and as an exception to the ruling of Article 74.4.I b), the hand-out pool is shared out in proportion to the total stakes placed on the horse classified and selected first, with any two of the horses entered on the racecard.

If none of these latter combinations has been backed, all « Trio Ordre » bets are refunded.

**"Dead Heat finish"**

**a)**In the event of a dead heat finish, if there are no bets on one of the payable permutations, the share-out profit corresponding to that permutation is handed out in equal proportion among the other payable permutations.

**b)**In the event of a dead heat finish, if there are no bets on any one of the payable permutations, the hand-out is shared out among the permutations of these same three horses selected first, third and second. If there are no bets on one of these payable permutations, the share-out profit corresponding to that permutation is handed out in equal proportion among the other payable permutations.

**c)**In the absence of bets on any one of these payable permutations, dividends are shared out among the permutations of these same three horses selected in third, second and first place. If no bets are registered on any one of these payable permutations, the share-out profit corresponding to that permutation is handed out in equal proportion among the other payable permutations.

**d)**Failing bets on any one of these payable permutations, dividends are shared out among the permutations of these same three horses selected in second, first and third place. If there are no bets on one of these payable permutations, the share-out profit corresponding to that permutation is handed out in equal proportion among the other payable permutations.

**e)**Failing bets on these latter permutations, dividends are shared out in proportion to the total stakes on the permutations of the same three horses selected in second, third and first place, and in third, first and second place.

If no bets are registered on one of these payable permutations, the share-out profit corresponding to this permutation is handed out in equal proportion among the other payable permutations.

**f)**If no bets are registered on any of these payable permutations, and as an exception to the ruling of Article 74.5.2, the hand-out pool is shared out in the following way:

-in the case of a dead heat of two horses for first place, in proportion to the total stakes on the permutations of the horses classified first, and selected in first or second place with any one of the horses entered on the racecard;

-in the case of a dead heat of three or more horses for first place, in proportion to the total stakes on the permutations of two of the horses classified first, and selected in first, second or third place, with any one of the horses entered on the racecard;

-in the case of a dead heat of two or more horses for second place, in proportion to the total stakes on the permutations of the horse classified first and selected in first place, of one of the horses classified second and selected in second place, with any one of the horses entered on the racecard;

- in the case of a dead heat of two or more horses for third place, in proportion to the total stakes on the permutations of the horse classified first and selected in first place, of the horse classified second and selected in second place, with any one of the horses entered on the racecard.

**g)**If no bets are registered on any one of these permutations, and as an exception to the ruling of Articles 74.4.1 b) and 74.5.2, the hand-out pool is shared out in proportion to the total stakes placed on the or one of the horses classified first and selected in first place, with any two of the horses entered on the racecard.

**h)**Failing bets on these latter permutations, all “Trio Ordre” bets are refunded.

**4)**On no account may a special dividend be awarded to combinations involving a non-runner and the horses classified first and third, for combinations involving a non-runner and the horses classified second and third, or for combinations involving two non-runners and the horse classified second or third.

**Postponed race**

- If a race offering “Trio Ordre” bets involves one or several non-runners and if, in that race, the “Couplé Ordre” bet did not operate, or did not result in a dividend for the combination of the horses classified in the first two places and selected in the right order of finish, the special dividends provided for in Article 74.6 a) above, corresponding to this permutation or, in the case of a dead heat, for each permutation of one of the non-runners with two horses classified in the first two places and selected in the right order of finish, are equal to half the lowest “Trio Ordre” dividend involving the same two horses; failing that, to half the highest “Trio Ordre” dividend involving one only of these two horses; or finally, failing that, to half the highest “Trio Ordre” dividend. These special dividends remain subject to the provisions of Article 74.6 e).

**Article 95.1**

**1)**For some events designated on the official racecard, so-called « Quinté Plus » bets may be organised.

A « Quinté Plus » bet consists in selecting five horses in a single race and specifying their order of finish.

The “Quinté Plus” bet may be as well offered under a specific commercial name brought to the attention of punters. The provisions of the present regulation applicable to “Quinté Plus” are applicable to bets offered under the corresponding commercial name.

A « Quinté Plus » bet is awarded a dividend if at least three of the five selected horses occupy the three first places of the race, barring the case mentioned in paragraph c) 2. below.

**a)**A so-called "in-the-right-order" « Quinté Plus » dividend is awarded if the five selected horses occupy the first five places of the race and if the punter has rightly selected the order of finish of the five horses.

**b)**A so-called «in-any-order » or basic « Quinté Plus » dividend is awarded if the punter’s selection for the five horses is different to the order of the finish.

**c)**Furthermore, all the five-horse combinations involving four horses classified in the first five places, whatever the order of finish selected by the punter for these four horses, and one horse classified after fifth place, are awarded, apart from the cases mentioned under Article 95.9. a dividend called:

1."Bonus 4" if these four horses are classified at the first four places of the race

**d)**Likewise, all five-horse combinations involving three horses classified in the first three places, whatever the relative order of finish selected by the punter for these three horses, and two horses both classified after fifth place, are awarded a so-called « Bonus 3» dividend, apart from the cases mentioned under Article 95.9.

Each horse participating in this race is dealt with separately when determining the payable combinations.

**2)**A "Plus N°" ("N° Plus") from 0001 to 3000 chosen at random by the PMU central electronic system is allotted at the time of the bet registration, in accordance with Article 95.8, to each "Quinté Plus" unit combination or combination bet wagered.

**Article 95.3**

**1.** **In the case of a dead heat finish, « Quinté plus » payable combinations are as follows**:

**a)**In the case of a dead heat for first place of five or more horses, the « Quinté plus » payable combinations comprise all those involving the horses classified first, taken five by five. For each combination, a single dividend is awarded to the one hundred and twenty possible orders of finish of the five horses in that same combination.

**b)**When four horses dead heat for first place and one or several horses are classified fifth, the payable « Quinté plus » combinations are those involving the four horses classified first with one of the horses classified fifth.

For each combination, there are twenty-four in-the-right-order permutations whereby the horses classified first have been selected in the four first places.

For each combination, there are ninety-six in-any-order permutations whereby any one of the horses classified first has been selected in fifth place.

**c)**When three horses dead heat for first place and two or more horses for fourth place, « Quinté plus » bet dividends are awarded to the combinations of the three horses classified first with two of the horses classified fourth.

For each combination, there are twelve in-the-right-order permutations whereby the three horses classified first have been selected in the three first places and two of the horses classified fourth have been selected in fourth and fifth place.

For each combination, there are one hundred and eight in-any-order permutations whereby any one of the horses classified first has been selected in fourth or fifth place.

**d)**When three horses dead heat for first place, one single horse is classified fourth, and one or more horses are classified fifth, « Quinté plus » bet dividends are awarded to the combinations of the three horses classified first with the horse classified fourth and one of the horses classified fifth.

For each combination, there are six in-the-right-order permutations whereby the horses classified first have been selected in the first three places and the fourth horse has been selected in fourth place.

For each combination, there are one hundred and fourteen in-any-order permutations whereby any one of the horses classified first has been selected in either fourth or fifth place, or whereby the horse classified fourth has been selected in fifth place.

**e)**When two horses dead heat for first place, and three horses or more dead heat for third place, « Quinté plus » bet dividends are awarded to the combinations of the two horses classified first with three horses classified third.

For each combination, there are twelve in-the-right-order permutations whereby the two horses classified first have been selected in the first two places and three of the horses in third place have been selected in third, fourth and fifth place.

For each combination, there are one hundred and eight in-any-order permutations whereby any one of the horses classified first has been selected in either third, fourth or fifth place.

**f)**When two horses dead heat for first place, two horses dead heat for third place, and one or more horses are classified fifth, « Quinté plus » bet dividends are awarded to the combinations of the two horses classified first with the two horses classified third and one of the horses classified fifth.

For each combination, there are four in-the-right-order permutations whereby the horses classified first have been selected in the first two places and the horses classified third have been selected in third and fourth place.

For each combination, there are one hundred and sixteen in-any-order permutations whereby one of the horses classified first has been selected in third, fourth or fifth place or whereby one of the horses classified third has been selected in first, second, or fifth place.

**g)**When two horses dead heat for first place, one horse is classified third and two or more horses are classified fourth, « Quinté plus » bet dividends are awarded to the combinations of the two horses classified first with the horse classified third and the two horses classified fourth.

For each combination, there are four in-the-right-order permutations whereby the horses classified first have been selected in the first two places and two of the horses classified fourth have been selected in fourth and fifth place.

For each combination, there are one hundred and sixteen in-any-order permutations whereby one of the horses classified first has been selected in third, fourth or fifth place, or whereby one of the horses classified fourth has been selected in first, second or third place.

**h)**When two horses dead heat for first place, one horse is classified third, one horse fourth and one or more horses classified fifth, « Quinté plus » bet dividends are awarded to the combinations of the two horses classified first with the horses classified third and fourth and with one of the horses classified fifth.

For each combination, there are two in-the-right-order permutations whereby the two horses classified first have been selected in the first two places, the horse classified third has been selected in third place, the horse classified fourth selected in fourth place and the horse classified fifth selected in fifth place.

For each combination, there are one hundred and eighteen in-any-order permutations whereby any one of the horses classified first has been selected in third, fourth or fifth place, or whereby one of the three other horses has been selected in an order different to that of its place of finish.

**i)**When four or more horses dead heat for second place, « Quinté plus » bet dividends are awarded to the combinations of the horse classified first, with four of the horses classified second.

For each combination, there are twenty-four in-the-right-order permutations whereby the horse classified first has been selected in first place.

For each combination, there are ninety-six in-any-order permutations whereby the horse classified first has not been selected in first place.

**j)**When three horses dead heat for second place and one or more horses are classified fifth, « Quinté plus » bet dividends are awarded to the combinations of the horse classified first, with the three horses classified second and any one of the horses classified fifth.

For each combination, there are six in-the-right-order permutations whereby the horse classified first has been selected in first place and any one of the horses classified fifth has been selected in fifth place.

For each combination, there are one hundred and fourteen in-any-order permutations whereby the horse classified first or any one of the horses classified fifth has been selected in an order different to that of its place of finish.

**k)**When two horses dead heat for second place and two or more horses for fourth place, « Quinté plus » bet dividends are awarded to the combinations of the horse classified first, with the two horses classified second and two of the horses classified fourth.

For each combination, there are four in-the-right order permutations whereby the two horses classified second have been selected in second and third place and the horses classified fourth have been selected in fourth and fifth place.

For each combination, there are one hundred and sixteen in-any-order permutations whereby the horse classified first has been selected in second, third, fourth or fifth place or whereby one of the horses classified second has been selected in first, fourth or fifth place.

**l)**When two horses dead heat for second place, one horse is classified fourth, and one or more horses are classified fifth, « Quinté plus » bet dividends are awarded to the combinations of the horse classified first, with the two horses classified second, the horse classified fourth, and one of the horses classified fifth.

For each combination, there are two in-the-right-order permutations whereby the horse classified first has been selected in first place, the horse classified fourth has been selected in fourth place, and any one of the horses classified fifth has been selected in fifth place.

For each combination, there are one hundred and eighteen in-any-order permutations whereby the horse classified first, the horse classified fourth, or the horse classified fifth have been selected in an order different to that of their place of finish.

**m)**When three or more horses dead heat for third place, « Quinté plus » bet dividends are awarded to the combinations of the horse classified first and the horse classified second, with three of the horses classified third.

For each combination, there are six in-the-right-order permutations whereby the winning horse classified first has been selected in first place and the horse classified second has been selected in second place.

For each combination, there are the one hundred and fourteen in-any-order permutations whereby the horse classified first or the horse classified second have been selected in an order different to that of their place of finish.

**n)**When two horses dead heat for third place and one or more horses are classified fifth, « Quinté plus » bet dividends are awarded to the combinations of the horse classified first, with the horse classified second, with the two horses classified third, and with one of the horses classified fifth.

For each combination, there are two in-the-right-order permutations whereby the horse classified first has been selected in first place, the horse classified second place has been selected second, and the horse classified fifth has been selected fifth.

For each combination, there are one hundred and eighteen in-any-order permutations whereby the horses classified first, second or fifth have been selected in an order different to that of their place of finish.

**o)**When two or more horses dead heat for fourth place, « Quinté plus » bet dividends are awarded to the combinations of the horse classified first, the horse classified second, the horse classified third with two of the horses classified fourth.

For each combination, there are two in-the-right-order permutations whereby the horse classified first has been selected in first place, the horse classified second has been selected second and the horse classified third has been selected in third place.

For each combination, there are one hundred and eighteen in-any-order permutations whereby the horses classified first, second or third have been selected in an order different to that of their place of finish.

**p)**When two or more horses dead heat for fifth place, « Quinté plus » bet dividends are awarded to the combinations of the horse classified first, the horse classified second, the horse classified third and the horse classified fourth, with one of the horses classified fifth.

For each combination, the right order implies the selection of the four first horses in their respective order of finish.

For each combination, there are one hundred and nineteen in-any-order permutations whereby one of the five horses has been selected in an order different to that of its place of finish.

**2. In the case of a dead heat finish, the « Bonus 4 » payable combinations are as follows, except as provided for in Article 95.9:**

**a)**When four or more horses dead heat for first place, « Bonus 4 » dividends are awarded to the combinations involving the horses classified first taken four by four and one horse classified after fifth place.

**b)**When three horses dead heat for first place and one or several horses are classified fourth, « Bonus 4 » dividends are awarded to the combinations involving the three horses classified first, one of the horses classified fourth, and one horse classified after fifth place.

**c)**When two horses dead heat for first place and two or more are classified third, « Bonus 4 » dividends are awarded to the combinations involving the two horses classified first, two of the horses classified third and one horse classified after fifth place.

**d)**When two horses dead heat for first place, one single horse is classified third and one or more horses are classified fourth, « Bonus 4 » dividends are awarded to the combinations involving the two horses classified first, the horse classified third, one of the horses classified fourth, and one horse classified after fifth place.

**e)**When three or more horses dead heat for second place, « Bonus 4 » dividends are awarded to the combinations involving the horse classified first, three of the horses classified second, and one horse classified after fifth place*.*

**f)**When two horses dead heat for second place and one or more horses are classified fourth, « Bonus 4 » dividends are awarded to the combinations involving the horse classified first, the two horses classified second, one of the horses classified fourth, and one horse classified after fifth place

**g)**When two horses or more dead heat for third place, « Bonus 4 » dividends are awarded to the combinations involving the horse classified first, the horse classified second, two of the horses classified third taken two by two and one horse classified after fifth place

**h)**When two or more horses dead heat for fourth place, « Bonus 4 » dividends are awarded to the combinations involving the horse classified first, the horse classified second, the horse classified third, one of the horses classified fourth and one horse classified after fifth place

**i)**When two or more horses dead heat for fifth place, « Bonus 4 » dividends are awarded to the combinations involving the horse classified first, the horse classified second, the horse classified third, the horse classified fourth and one horse classified after fifth place

**3) In the case of a dead heat finish, the « Bonus 3 » payable combinations are as follows, except as provided for in Article 95.9:**

**a)** When three or more horses dead heat for first place, « Bonus 3 » dividends are awarded to the combinations involving three horses classified first and two horses both classified after fifth place.

**b)** When two horses dead heat for first place and one or several horses are classified third, « Bonus 3 » dividends are awarded to combinations involving the two horses classified first, one horse classified third, and two horses both classified after fifth place.

**c) **When two or more horses dead heat for second place, « Bonus 3 » dividends are awarded to the combinations involving the horse classified first, two of the horses classified second and two horses both classified after fifth place.

**d) **When two or more horses dead heat for third place, « Bonus 3» dividends are awarded to the combinations involving the horse classified first, the horse classified second, one of the horses classified third and two horses both classified after fifth place.

**e) **When two or more horses dead heat for fourth place, « Bonus 3 » dividends are awarded to the combinations involving the horse classified first, the horse classified second, the horse classified third, and two horses both classified after fifth place.

**f) **When two or more horses dead heat for fifth place, « Bonus 3 » dividends are awarded to the combinations involving the horse classified first, the horse classified second, the horse classified third, and two horses both classified after fifth place.

**Article 95.4Non-runners**

**I **- **a)** « Quinté Plus » combinations bets in which three or more horses were non-runners are refunded.

**b)**« Quinté Plus » combination bets involving two non-runners among the five horses selected are awarded four times the « Bonus 3 » dividend, on condition that the three runners of the selection are classified in the first three places of the race, whatever their order of finish.

**c) ** « Quinté Plus » combination bets involving a non-runner among the five horses selected are awarded four times the « Bonus 4 » dividend, on condition that the four runners of the selection are classified in the first four places of the race, whatever their respective order of finish.

**d)**« Quinté Plus » combination bets, other than those mentioned in c) above, involving a non-runner among the five horses selected are awarded four times the « Bonus 4sur5 » dividend on condition that the four runners are classified in the first five places of the race, whatever their order of finish.

**e)**« Quinté Plus » combination bets involving a non-runner among the five horses selected are awarded twice the « Bonus 3 » dividend, on condition that three of the runners are classified in the first three places of the race, whatever their order of finish and that the fourth horse is classified after fifth place.

**f)**However, the rules laid down under paragraphs b), c) and d) above, do not apply to the categories "full coverage" and "part coverage" combination bets, as provided for under Article 95.8, in which all bankers are non- runners. In the latter case the corresponding combination bets are refunded

**II - **With the "Quinté Plus" bet, punters have the possibility of selecting a reserve horse pursuant to the provisions of Article 13, paragraph II of the present Regulation.

If the punter has not selected a reserve horse or if the reserve horse selected is a non-runner and if, in this latter case, concurrently, the bet placed by the punter comprises one or several other non-runners, the bet is dealt with as mentioned in paragraph I above.

If the punter has selected a reserve horse that does participate in the race and if, after this horse has replaced a non-runner, the bet placed by the punter comprises, in addition, one or two other non-runners, the provisions under paragraph I above shall apply.

**Article 95.5Calculation of dividends**

The hand-out pool is obtained by deducting the amount of the proportional levy on betting and refunded bets from the total stake money.

6 % maximum of this hand-out pool can be set aside to constitute a “Quinté Plus Reserve Fund” (“Fonds de reserve Quinté Plus”) in accordance with the provisions of Article 95.7.2 below. The current rate shall be brought to the attention of punters at the latest at the start of the betting operations of the “Quinté Plus” bet by means and media as specified on every racecourses or PMU betting outlets.

33.75 % of the balance of this hand-out pool, called the "Quinté Plus hand-out pool" serve to calculate the « Quinté Plus» dividends; and 15 % of the balance of this pool, called the "Bonus 4 hand-out pool", serve to calculate the « Bonus 4 » dividends; 25 % of the balance of this pool, called the "Bonus 4sur5 hand-out pool" serve to calculate the "Bonus 4sur5" dividend; 26.25 % of the balance of this pool, called the "Bonus 3 hand-out pool" serve to calculate the « Bonus 3 » dividends.

Calculation of gross dividends is based as follows:

**I. « Quinté Plus » dividends:**

**1).** When five or more horses dead heat for first place, the total stake money on the various payable combinations is deducted from the « Quinté plus » hand-out pool. The resulting share-out profit is divided into as many equal parts as there are different payable combinations of the horses involved in the dead heat.

Each of these parts is thereafter shared out in proportion to the number of bets wagered on each payable combination, each one containing the hundred and twenty permutations of the five horses corresponding to the combination. The quotients thus obtained, plus the unit stake, constitute the gross dividends for each of the « Quinté Plus» payable combinations.

**2)** In all other finish cases, the stake money of the various payable combinations – including, where applicable, those resulting from application of the provisions of paragraph a) of Artile 95.1.2) II above - is deducted from the « Quinté Plus » hand-out pool. The resulting share-out profit is divided into as many equal parts as there are different payable combinations of the horses involved in the dead heat.

1500/3375ths of each of these parts are paid to the in-the-right-order permutations and 1875/ 3375ths to the in-any-order permutations.

Each of these parts is thereafter shared out in proportion to the number of bets wagered on the corresponding permutations including, where applicable those resulting from application of the provisions of paragraph a) of Article 95.1 2) II. The quotients thus obtained, plus the unit stake, constitute the gross dividends, subject to the provisions of Article 95.6, 95.7 and 95.7.1 below.

**3. Minimum in-any-order dividend:**

**a) **Article 18 is applied if application of the rules laid down in paragraphs 1 and 2 above results in an in-any-order dividend less than 1.10 €.

If the resulting dividend is less than 1.10 €, the amount of the 1.10 € payments of the in-any-order-bets is deducted from the fraction of the hand-out pool set aside to constitute the “Quinté Plus Reserve Fund” (“Fonds de reserve Quinté Plus”) mentioned in the second paragraph of Article 95.5. If the resulting dividend is still less than 1.10 €, the hand-out pool serving to calculate the in- the-right-order dividend of this combination is obtained by deducting from the « Quinté Plus » hand-out pool corresponding to this combination, the amount of the 1.10 € payments of the in-any-order bets. Article 19 is applied when, as a result of these operations, the « Quinté Plus » in-the-right-order dividend is less than 1.10 €.

**b) **The provisions of Articles 95.6, 95.7 and 95.7.1 below do not apply in the case described in the paragraph a) above.

**II. « Bonus 4 » dividends**

**1. Normal finish:**

**a)**In the case of a single « Bonus 4 » payable combination, the « Bonus 4 » hand-out pool is shared out in proportion to the number of bets wagered on the payable combination including, where applicable, those mentioned under paragraph b) of Article 95.4.a.2) II and those mentioned under paragraph c) of Article 95.4 I above.

**b)**As an exception to a) above, if the « Bonus 4 » dividend is less than 1.10 €, and at the same time less than or equal to the « Bonus 4sur54 » and « Bonus 3 » dividends, or to only one of these two, share-out is calculated in such a way that the net « Bonus 4 », « Bonus 4sur5 » and « Bonus 3 » dividends paid to punters are equal.

**c)**The provisions of the Article 95.7 below do not apply in the case described in paragraph b) above.

**2. "Dead heat" finish:**

**a) **In cases of « dead heat », the total stake money on these various payable combinations including, where applicable, those resulting from the provisions under paragraph b) of Article 95.1.2) II and under paragraph c) of Article 95.4.I above, is deducted from the "Bonus 4" hand-out pool. The resulting share-out profit is divided into as many equal parts as there are different payable combinations of the horses involved in the dead heat.

Each of these parts is thereafter shared out in proportion to the number of bets wagered on each payable combination. The quotients thus obtained, plus the unit stake, constitute the gross dividends for each of the payable combinations.

**b) **If, in application of paragraph a) above, there are one or several « Bonus 4 » dividends lower than twice the "Bonus 4sur5 " dividend, the "Bonus 4" and "Bonus 4sur5" hand-out pools are comingled to constitute one common hand-out pool.

The number of bets wagered on the "Bonus 4" combination having gathered the highest stake amount is multiplied by two; the resulting number is then multiplied by the number of different "Bonus 4" combinations. To this result is added the number of the bets on the "Bonus 4sur5" combinations.

The hand-out pool shared out as a ratio of the resulting total constitutes the gross "Bonus 4sur5" dividend.

The net paid dividend to the "Bonus 4 "combination having gathered the highest stake amount is thus equal to twice "Bonus 4sur5" net dividend.

The number of bets wagered on the "Bonus 4" combination mentioned in the above paragraph multiplied by twice the "Bonus 4sur5" gross dividend constitutes the hand-out pool paid to each of the other "Bonus 4" combinations on the basis of which each of the other "Bonus 4" dividends is calculated.

**3. Minimum « Bonus 4 » dividend**

**a)**When, application of the rules laid down in Article 18 and paragraphs 1 and 2 above results in a « Bonus 4 » dividend less than 1.10 €, the amount of the 1.10 € payments of the "Bonus 4" bets is deducted from the fraction of the hand-out pool set aside to constitute the “Quinté Plus Reserve Fund” (“Fonds de reserve Quinté Plus”) mentioned in the second paragraph of Article 95.5. If the resulting dividend is still less than 1.10 €, the hand-out pool serving to calculate the "Quinté Plus" dividends is obtained by deducting - from the total "Quinté Plus" hand-out pool and from the Bonus 4 hand-out pool - the amount of the 1.10 € payments of the "Bonus 4" bets. Article 19 is applied if, as a result of these operations, the in-the- right-order « Quinté Plus » dividend or the in-any-order "Quinté Plus" dividend is less than 1.10 €.

**b)**The term « "Bonus 4 hand-out pool » is understood - when the provisions of paragraph a) above are applied after those of Article 95.5 II 1) b) above - to mean the pools having served to calculate the single "Bonus 4", "Bonus 4sur5" and « Bonus 3 » dividend, while the term « Bonus 4 stakes» is understood to mean the total « Bonus 4 », "Bonus 4sur5" and "Bonus 3" stakes.

**c)**The provisions of the following Article 95.7 do not apply in the cases described in paragraph a) above.

**IV."Bonus 3" dividend**

**1) Normal finish:**

In the case of a single « Bonus 3 » payable combination, the « Bonus 3 » hand-out pool is shared out in proportion to the number of bets wagered on the payable combination including, where applicable, those mentioned under paragraphs d) of Article 95.1.2) II and paragraphs b) and e) of Article 95.4 I above.

**2) Dead heat finish:**

In the case of several payable combinations, the total stake money on these various combinations including, where applicable, those mentioned under paragraph d) of above Article 95..1.2) II and from paragraphs b) and d) of Article 95.4 above, is deducted from the « Bonus 3 » hand-out pool. The resulting share-out profit is divided into as many equal parts as there are different payable combinations of the horses involved in the dead heat. Each of these parts is thereafter shared out in proportion to the number of bets wagered on each payable combination. The quotients thus obtained, plus the unit stake, constitute the gross dividends for each of the payable combinations.

**3) Minimum « Bonus 3 » dividend **

**a)**Article 18 is applied when, under the rules laid down in paragraphs 1 and 2 above, the « Bonus 3 » dividend is less than 1.10 €. If the resulting dividend is less than 1.10 €, the amount of the 1.10 € "Bonus 3" stakes is deducted from the fraction of the hand-out pool set aside to constitute the “Quinté Plus Reserve Fund” (“Fonds de reserve Quinté Plus”) as mentioned in the second paragraph of Article 95.5. If the resulting dividend is still less than 1.10 €, the hand-out pool serving to calculate the "Quinté Plus" dividends is obtained by deducting - from the total "Quinté Plus" hand-out pool and from the "Bonus 3" hand-out pool - the amount of the 1.10 € the "Bonus 3" stakes. Article 19 is applied if, as a result of these operations, the in-the- right-order « Quinté Plus » dividend or the in-any-order "Quinté Plus" dividend is less than 1.10 €.

**b)**The provisions of Article 95.7 below do not apply in the case described in the paragraph a) above.

**4.** Where, in application of rules 1, 2 and 3 above, the resulting « Bonus 3 » dividend is higher than the « Bonus 4sur5» dividend, and if, at the same time, this "Bonus 4sur5 dividend is less than 1.10 €, share-out is calculated in accordance with the provisions of b) and c) of 1 of III of the current Article.

**Article 95-6 Minimum "Quinté Plus" dividend proportion**

Provisions below apply before application of Article 95.7.4.

**a)**In the case of a normal finish, and in the case of a dead heat finish, mentioned in paragraph p) of Article 95.3, paragraph 1) above, for each combination of the same five horses, the net dividend paid to the in-the-right-order permutation must be at least equal to fifty times the net dividend paid to the in-any-order permutations.

If this condition is not met by application of the dividend calculation rules mentioned in Article 95.5 paragraph I above, the total « Quinté Plus » hand-out pool for this combination is shared out equally among all the payable permutations, multiplying the number of bets wagered on the in-the-right-order permutation by coefficient 50, and multiplying the number of bets wagered on the in-any-order permutations by coefficient 1. This gives the basic gross dividend for the in-any-order permutations of the five horses.

The net dividend paid for in-the-right-order the permutation is thus equal to fifty times the basic net dividend paid to in-any-order permutations of the same five horses.

**b)**In the cases of a dead heat finish as provided for under paragraphs b) and i) of above Article 95.3 paragraph 1 above, for each combination of the same five horses, the net dividend paid to the in-the-right-order permutations must be at least equal to twice the net dividend paid to the in-any-order permutations.

If this condition is not met by application of the dividend calculation rules mentioned in Article 95.5 paragraph I above, the total « Quinté Plus » hand-out pool for this combination is shared out equally among all the payable permutations, multiplying the number of bets wagered on the in-the-right-order permutation by coefficient 2, and multiplying the number of bets wagered on the in-any-order permutations by coefficient 1. This gives the basic gross dividend for the in-any-order permutations of the five horses.

The net dividend paid to the in-the-right-order permutations is thus equal to twice the basic net dividend paid to in-any-order permutations of the same five horses.

**c)**In the case of a dead heat finish as provided for under paragraph c) and e) of Article 95.3, paragraph 1 above, for each combination of the same five horses, the net dividend paid to the in-the-right-order permutations must be at least equal to four times the net dividend paid to the in-any-order permutations.

If this condition is not met by application of the dividend calculation rules mentioned in Article 95.5 paragraph I above, the total « Quinté Plus » hand-out pool corresponding to this combination is shared out equally among all the payable permutations, multiplying the number of bets wagered on the in-the-right-order permutations by coefficient 4, and multiplying the number of bets wagered on the in-any-order permutations by coefficient 1. This gives the basic gross dividend for the in-any-order permutations of the five horses.

The net dividend paid for the in-the-right-order permutations is thus equal to four times the basic net dividend paid to the in-any-order permutations of the same five horses.

**d)**In the case of a dead heat finish as provided for under paragraphs d), j), and m) of Article 95.3, paragraph 1 above , for each five-horse combination, the net dividend paid to the in-the-right-order permutations must be at least equal to eight times the net dividend paid to the in-any-order permutations.

If this condition is not met by application of the dividend calculation rules mentioned in Article 95.5 paragraph I above, the total « Quinté Plus » hand-out pool for this combination is shared out equally among all the payable permutations, multiplying the number of bets wagered on the in-the-right-order permutation by coefficient 8, and multiplying the number of bets wagered on the in-any-order permutations by coefficient 1.

The net dividend paid for the in-the-right-order permutations is thus equal to eight times the basic net dividend paid to the in-any-order permutations of the same five horses.

**e)**In the case of a dead heat finish as provided for under paragraph f), g) and k) of Article 95.3, paragraph 1 above, for each combination of the same five horses, the net dividend paid to the in-the-right-order permutations must be at least equal to twelve times the net dividend paid to the in-any-order permutations.

If this condition is not met by application of the dividend calculation rules mentioned in Article 95.5 paragraph I above, the total « Quinté Plus » hand-out pool for this combination is shared out equally among all the payable permutations, multiplying the number of bets wagered on the in-the-right-order permutation by coefficient 12, and multiplying the number of bets wagered on the in-any-order permutations by coefficient 1.

The net dividend paid for the in-the-right-order permutations is thus equal to twelve times the basic net dividend paid to the in-any-order permutations of the same five horses.

**f)**In the case of a dead heat finish as provided for under paragraphs h), l), n), and o) of Article 95.3, paragraph 1 above, for each combination of the same five horses, the net dividend paid to the in-the-right-order permutations must be at least equal to twenty-five times the net dividend paid to the in-any-order permutations.

If this condition is not met by application of the dividend calculation rules mentioned in Article 95.5 paragraph I above, the total « Quinté Plus » hand-out pool for this combination is shared out equally among all the payable permutations, multiplying the number of bets wagered wagered on the in-the-right-order permutation by coefficient 25, and multiplying the number of bets wagered on the in-any-order permutations by coefficient 1.

The net dividend paid for the in-the-right-order permutations is thus equal to twenty-five times the basic net dividend paid to the in-any-order permutations of the same five horses.

**Article 95.7 – Minimum "Bonus 4", "Bonus 4sur5" and "Bonus 3" proportion**

The "Bonus 4" net dividend, or any one of the "Bonus 4" dividends if there are several, may not exceed the net dividend paid to the in-any-order "Quinté Plus" combination or any one of the net dividends paid to the in-any-order "Quinté Plus" combinations if there are several. At the same time, on the one hand, the "Bonus 4" net dividend or any one of the "Bonus 4" net dividends if there are several, must be at least equal to twice the "Bonus 4sur5" net dividend; on the other hand, the "Bonus 4sur5" net dividend must be at least equal to 1.5 times the "Bonus 3" net dividend or any one of the "Bonus 3" net dividends if there are several.

If these conditions are not all met in accordance with the rules of calculation mentioned in paragraphs 1 and 2 of Article 95.5 (I, II and IV), in paragraph 1 of Article 95.5 III and in Article 95.6, dividends are established as follows :

**a)**In the case where the "Bonus 4" net dividend or any one of the "Bonus 4" net dividends if there are several, is more than the in-any-order "Quinté Plus" net dividend or one of the net dividends paid to the in-any-order "Quinté Plus" combinations if there are several, and where, at the same time, on the one hand, the "Bonus 4sur5" net dividend is more than half the "Bonus 4" net dividend or any one of the "Bonus 4" net dividends if there are several; and on the other hand, where the "Bonus 3" dividend or one of the "Bonus 3" dividends if there are several, is more than two thirds of the "Bonus 4sur5" net dividend, the in-any-order "Quinté Plus" hand-out pools as well as the "Bonus 4", "Bonus 4sur5" and "Bonus 3" hand-out pools are comingled to constitute one common hand-out pool.

The number of bets wagered on the in- any-order "Quinté Plus" combination having gathered the highest stakes is multiplied by 3; this number is then multiplied by the number of different in-any-order payable "Quinté Plus" combinations. To this result is added the number of bets , multiplied by three, wagered on the « Bonus 4" combination having gathered the highest stakes ; the resulting number being then multiplied by the number of different "Bonus 4" combinations. To the resulting total is added the number of bets multiplied by 1.5 - wagered on the "Bonus 4sur5" combination(s) and the number of bets wagered on the "Bonus 3" combination or combinations if there are several.

The share of the hand-out pool as a ratio of the resulting total constitutes the single gross "Bonus 3" dividend.

If this single gross dividend is less than 1.10 €, share-out is calculated in such a way that the net in-any-order "Quinté Plus" paid dividends and the "Bonus 4", "Bonus 4sur5" and "Bonus 3" paid dividends are equal.

If the single gross dividend is equal to or higher than 1.10 €, the net dividend paid to the in-any-order "Quinté Plus" combination having gathered the highest stakes and the net dividend paid to the "Bonus 4" combination having gathered the highest stakes are therefore equal to three times the net "Bonus 3" dividend and the net dividend paid to the "Bonus 4sur5" combination(s) is therefore equal to 1.5 times the net "Bonus 3" paid dividend.

The number of bets wagered on the in-any-order "Quinté Plus" mentioned in the above paragraph, multiplied by three times the "Bonus 3" gross dividend, constitutes the hand-out pool for each of the other in-any-order "Quinté Plus" combinations, on the basis of which each of the other in-any-order "Quinté Plus" dividends is calculated.

The number of betswagered on the "Bonus 4" combination mentioned in the above paragraph multiplied by three times the "Bonus 3" gross dividend, constitutes the hand-out pool corresponding to each of the other "Bonus 4" combinations, on the basis of which each of the other "Bonus 4" dividends is calculated.

**b)**In the case where the "Bonus 4" net dividend, or any one of the "Bonus 4" net dividends if there are several, is more than the in-any-order "Quinté Plus" net dividend, or one of the net dividends paid to the in-any-order "Quinté Plus" combinations if there are several, and where, at the same time, the "Bonus 4sur5" net dividend is more than half the "Bonus 4" net dividend, or any one of the "Bonus 4" net dividends if there are several, but where also the "Bonus 3" dividend, or none of the "Bonus 3" dividends if there are several, is not more than two thirds of the net "Bonus 4 ur 5" dividend, the in-any-order "Quinté Plus" hand-out pool, the "Bonus 4" and "Bonus 4sur5" hand-out pools are comingled to constitute one common hand-out pool.

The number of betswagered on the in- any-order "Quinté Plus" combination having gathered the highest is multiplied by 2; this number is then multiplied by the number of different in-any-order "Quinté Plus" payable combinations. To this result is added the number of betsmultiplied by two wagered on the "Bonus 4" combination having gathered the highest stakes ; the resulting number being then multiplied by the number of different "Bonus 4" combinations. To the resulting total is added the number of bets wagered on the "Bonus 4sur5" combination(s).

The share of the hand-out pool as a ratio of the resulting total, constitutes the single gross "Bonus 4sur5" dividend.

If this single gross dividend is less than 1.10 €, share-out is calculated in such a way that the net in-any-order "Quinté Plus" paid dividends and the "Bonus 4" and "Bonus 4sur5" dividends are equal.

If the single gross dividend is equal to or higher than 1.10 €, the net dividend paid to the in-any-order "Quinté Plus" combination having registered the highest stakes and the net dividend paid to the "Bonus 4" combination having registered the highest are therefore equal to twice the "Bonus 4sur5" net dividend.

The number of bets wagered on the in-any-order "Quinté Plus" mentioned in the above paragraph, multiplied by twice the "Bonus 4sur5" gross dividend, constitutes the hand-out pool for each of the other in-any-order "Quinté Plus" combinations, on the basis of which each of the other in-any-order "Quinté Plus" dividends is calculated.

The number of bets wagered on the "Bonus 4" combination mentioned in the above paragraph multiplied by twice the "Bonus 4sur5" gross dividend, constitutes the hand-out pool for each of the other "Bonus 4" combinations, on the basis of which each of the other "Bonus 4" dividends is calculated.

If, after application of the above rules, the "Bonus 3" net dividend is more than two thirds of the "Bonus 4sur5" net dividend, share-out is then calculated in application of the rules laid down in paragraph a) above.

**c)**In the case where the "Bonus 4sur5" net dividend is more than half the "Bonus 4" net dividend or any one of the "Bonus 4" net dividends if there are several, and where, at the same time, the "Bonus 3" net dividend or one of the "Bonus 3" net dividends if there are several is more than two thirds of the "Bonus 4sur5" net dividend, the "Bonus 4", "Bonus 4sur5" and "Bonus 3" hand-out pools are comingled to constitute one common hand-out pool.

The number of bets wagered on the "Bonus 4" combination having registered the highest number of bets is multiplied by 3; this number is then multiplied by the number of different "Bonus 4" combinations. To this result is added the number of bets multiplied by 1.5 wagered on the « Bonus 4sur5" combination(s). To the resulting total is added the number of bets wagered on the "Bonus 3" combination or combinations if there are several. The share of the hand-out pool as a ratio of the resulting total, constitutes the single "Bonus 3" gross dividend.

If this single gross dividend is less than 1.10 €, share-out is calculated in such a way that the "Bonus 4", "Bonus 4sur5" and "Bonus 3" net dividends are equal. In this case, the provisions of paragraph a) of the present article are not applicable.

If the single gross dividend is equal to or higher than 1.10 €, the net dividend paid to the "Bonus 4"combination having registered the highest stakes is therefore equal to three times the net "Bonus 3" dividend and the net dividend paid to the "Bonus 4sur5" is therefore equal to 1.5 times the "Bonus 3" net dividend.

The number of bets wagered on the "Bonus 4" combination mentioned in the above paragraph, multiplied by three times the "Bonus 3" gross dividend, constitutes the hand-out pool for each of the other "Bonus 4" combinations, on the basis of which each of the other "Bonus 4" dividends is calculated.

If, after application of the above rules, the "Bonus 4" net dividend or any one of the "Bonus 4" net dividends if there are several, is more than the in-any-order "Quinté Plus" net dividend or one of the net dividends of the in-any-order "Quinté Plus" combinations if there are several, share-out is then calculated in application of the rules laid down in paragraph a) above.

**d)**In the case where the "Bonus 4" net dividend, or any one of the "Bonus 4" net dividends if there are several, is more than the in-any-order "Quinté Plus" net dividend, or any one of the net dividends paid to the in-any-order "Quinté Plus" combinations if there are several, and where the "Bonus 4sur5" net dividend is not more than half the net Bonus 4 dividend or any one of the "Bonus 4" if there are several and where also the Bonus 3 net dividend, or none of the Bonus 3 net dividends if thre are several, is not more than two thirds of the net "Bonus 4sur5" net dividend the in-any-order "Quinté Plus" and "Bonus 4" hand-out pools are comingled to constitute one common hand-out pool.

The number of bets wagered on the in- any-order "Quinté Plus" combination having registered the highest stakes is multiplied by the number of different in-any-order "Quinté Plus" combinations; to this number is added the number of bets wagered on the "Bonus 4" combination or combinations if there are several.

The share of the hand-out pool as a ratio of the resulting total, constitutes the single "Bonus 4" gross dividend.

The net dividend paid to the in-any-order "Quinté Plus" combination having registered the highest stakes is thus equal to the "Bonus 4" net dividend.

The number of bets wagered on this in-any-order "Quinté Plus" combination, multiplied by the "Bonus 4" gross dividend, constitutes the hand-out pool corresponding to each of the other in-any-order "Quinté Plus" combinations, on the basis of which each of the other in-any-order "Quinté Plus" dividends is calculated.

If, after application of the above rules, the "Bonus 4sur5" net dividend is more than half of the "Bonus 4 " net dividend but if the "Bonus 3" net dividend, or none of the "Bonus 3" net dividends if there are several, is not more than two thirds of the "Bonus 4sur5" net dividend, share-out is then calculated in application of the rules laid down in paragraph b) above.

**e)**In the case where the "Bonus 4sur5" net dividend is more than half of the "Bonus 4" dividend, or any one of the "Bonus 4 " net dividends if there are several, and where the "Bonus 3" net dividend, or none of the "Bonus 3" net dividends if there are several, is not more than two thirds of the "Bonus 4sur5" net dividend, the "Bonus 4", and "Bonus 4sur5" hand-out pools are comingled to constitute one common hand-out pool.

The number of bets wagered on the "Bonus 4" combination having registered the highest stakes is multiplied by 2; this number is then multiplied by the number of different "Bonus 4" combinations. To this result is added the number of bets wagered on the "Bonus 4sur5" combination(s).

The share of the hand-out pool as a ratio of the resulting total, constitutes the single "Bonus 4sur5" gross dividend.

If this single gross dividend is less than 1.10 €, share-out is calculated in such a way that the "Bonus 4" and "Bonus 4sur5"net dividends paid are equal.

If the single gross dividend is equal to or higher than 1.10 €, the net dividend paid to the in-any-order "Bonus 4" combination having registered the highest stakes is then equal to twice the "Bonus 4sur5" net dividend.

The number of bets wagered on the "Bonus 4 combination mentioned in the above paragraph, multiplied by twice the "Bonus 4sur5" gross dividend, constitutes the hand-out pool for each of the other "Bonus 4" other combinations on the basis of which each of the other "Bonus 4" dividends is calculated.

If, after application of the above rules, the "Bonus 3" net dividend, or one of the "Bonus 3" dividends if there are several, is more than two thirds of the "Bonus 4sur5" net dividend, share-out is then calculated in application of the rules laid down in paragraph c) above.

If, after application of the above rules, the "Bonus 4" net dividend, or one of the "Bonus 4" net dividends if there are several, is more than the in-any-order "Quinté Plus" net dividend, share-out is then calculated in application of the rules laid down in paragraph b) above.

If, after application of the above rules, the "Bonus 4" net dividend,or one of the "Bonus 4" dividends if there are several, is more than the in-any-order "Quinté Plus" net dividend, and if at the same time, the "Bonus 3" net dividend,or one of the "Bonus 3" net dividends if there are several, is more than two thirds of the "Bonus 4sur5" net dividend, share-out is then calculated in application of the rules laid down in paragraph a) above.

**f)**In the case where the "Bonus 3" net dividend,or any one of the "Bonus 3" net dividends if there are several, is more than two thirds of the "Bonus 4sur5" net dividend, "Bonus 3" and "Bonus 4sur5" hand-out pools are comingled to constitute one common hand-out pool.

The number of bets wagered on the "Bonus 4sur5" combination(s) is multiplied by 1.5; to this result is added the number of bets wagered on the "Bonus 3" combination or "Bonus 3"combinations if there are several.

The share of the hand-out pool as a ratio of the resulting total, constitutes the single "Bonus 3" gross dividend.

If this single gross dividend is less than 1.10 €, share-out is calculated in such a way that the "Bonus 3" and "Bonus 4sur5"net dividends paid are equal.

If the single gross dividend is equal to or higher than 1.10 €, the net dividend paid to the "Bonus 4sur5" is then equal to one and a half times the "Bonus 3" net dividend.

If, after application of the above rules, the "Bonus 4sur5" net dividend is more than half of the "Bonus 4" net dividend, or any one of the "Bonus 4" net dividends if there are several, share-out is then calculated in application of the rules laid down in paragraph c) above.

**g)**In the case where the "Bonus 4" net dividend, or any one of the "Bonus 4" net dividends if there are several, is more than the in-any-order "Quinté Plus" net dividend, or any one of the net dividends paid to the in-any-order "Quinté Plus" combinations if there are several, and where the

"Bonus 4sur5" net dividend is not more than half the "Bonus 4" net dividend, or any one of the "Bonus 4" net dividends if there are several, but where also the "Bonus 3" net dividend, or one of the "Bonus 3" net dividends if there are several, is more than two thirds of the "Bonus 4sur5" net dividend, share-out is calculated in accordance with the following rules :

The in-any-order "Quinté Plus" hand-out pool and the "Bonus 4" hand-out pool are comingled to constitute one common hand-out pool.

The number of bets wagered on the in- any-order "Quinté Plus" combination having registered the highest is multiplied by the number of different in-any-order "Quinté Plus" combinations. To this number is added the number of bets wagered on the "Bonus 4" combination or "Bonus 4" combinations if there are several.

The share of the hand-out pool as a ratio of the resulting total, constitutes the single "Bonus 4" gross dividend.

The net dividend paid to the in-any-order "Quinté Plus" combination having registered the highest stakes is therefore equal to the "Bonus 4" net dividend.

The number of bets wagered on that in-any-order "Quinté Plus" combination, multiplied by the "Bonus 4" gross dividend, constitutes the hand-out pool for each of the other in-any-order "Quinté Plus" combinations, on the basis of which each of the other in-any-order "Quinté Plus" dividends is calculated.

The "Bonus 3" and "Bonus 4sur5" hand-out pool are comingled to constitute one common hand-out pool.

The number of bets wagered on the "Bonus 4sur5" combination(s) is multiplied by 1.5; to this result is added the number of bets wagered on the "Bonus 3" combination or on the "Bonus 3" combinations if there are several.

The share of the hand-out pool as a ratio of the resulting total , constitutes the single "Bonus 3" gross dividend.

If this single gross dividend is less than 1.10 €, share-out is calculated in such a way that the "Bonus 3" and "Bonus 4sur5" net dividends paid are equal.

If the single gross dividend is equal to or higher than 1.10 €, the net dividend paid to the "Bonus 4sur5" is then equal to one and a half times the "Bonus 3" net dividend.

If, after application of the above rules, the "Bonus 4sur5" net dividend is more than half of the "Bonus 4" net dividend paid, share-out is then calculated in application of the rules laid down in paragraph a) above.

- If, after application of the rules in paragraphs a) to g) concurrently with those of Article 95.6, the minimum proportions laid down in Articles 95.6 and 95.7 are not to be found in one or several of the dividends concerned, share-out is calculated in such a way that the minimum proportion of the “Quinté Plus”, “Bonus 4”, “Bonus 4sur5” and “Bonus 3” dividends are readjusted.

**Article 95.7.1 – Maximum "Quinté Plus" dividend proportion**

Provisions below apply before application of Article 95.7.4.

In the case of a normal finish and in the case of a dead heat, for each combination of the same five horses, the net dividend paid to the in-the-right-order permutation must be at the most equal to one hundred and twenty times the net dividend paid to the in-any-order permutations.

If this condition is not met by application of the dividend calculation rules mentioned in Article 95.5 paragraph I above, the total « Quinté Plus » hand-out pool for this combination is shared out equally among all the payable permutations, multiplying the number of bets wagered on the in-the-right-order permutation by coefficient 120, and multiplying the number of bets wagered on the in-any-order permutations by coefficient 1. This gives the basic gross dividend for the in-any-order permutations of the five horses.

The net dividend paid for the in-the-right-order permutations is thus equal to one hundred and twenty times the basic net dividend paid to the in-any-order permutations of the same five horses.

**Article 95.7.4 - Supplement to the in-the-right-order dividend**

An extra amount whose the PMU trade name of which has been notified to the attention of punters – may be allocated on specified race days to the in-the-right-order Quinté Plus combinations as mentioned under Article 95.1.a

The amount of that supplement -made up of subtractions from the Quinté Plus Reserve Fund by integer multiples of 1000 € net – may not exceed the available amount of the “Quinté Plus Reserve Fund” and is redistributed as follows :

This supplement is shared out in proportion to the number of bets on each payable in-the-right-order Quinté Plus winning combination

The net in-the-right-order dividend(s) resulting from application of the provisions of Articles 95.5 to 95.7.2 above, plus the quotient thus obtained, rounded down to the nearest decimal, make up the net paid in-the-right-order Quinté Plus dividend(s).

Rounding off differences resulting from calculation of the above-mentioned quotient are allocated to the gross margin as defined in Article 18.

In the event that in that Quinté Plus race, there are no bets on any of the in-the-right-order Quinté Plus payable combinations, or if that Quinté Plus race is not organized, the supplement that had been constituted is reallocated to the “Quinté Plus Reserve Fund”

The supplement as well as the day on which it is to be redistributed shall be brought to the attention of punters at the latest at the start of the Quinté Plus betting operations on the day concerned.

**Article 95.8** – **Combination bets**

Punters may register their «Quinté plus » bets either as unit combinations combining five of the declared runners or in the so-called «multiple"or « coverage » combination bets.

Multiple combinations encompass all « Quinté Plus" bets involving five by five inter-combinations of a number of horses selected by the punter.

**a)** The punter may – if he so wishes - place each five-horse combination within his selection in a stipulated relative order of finish

If the punter selects K horses, the corresponding combination bet called "simple combination" comprises:

K x (K - 1) x (K - 2) x (K - 3) x (K – 4)« Quinté Plus » bets.

120

**b)**If, for each five-horse combination in his selection, the punter picks the one hundred and twenty possible orders of finish, the corresponding combination bet called "in-all-possible order combination" with one hundred and twenty permutations, comprises, for a selection of K horses:

K x (K - 1) x (K- 2) x (K - 3) x (K – 4)« Quinté Plus» bets.

**c)**The « four-horse full coverage » combinations encompass all « Quinté Plus » bets combining four horses selected by the punter with all the other declared runners.

If the race involves N official runners, the « four-bankers full coverage » comprises:

120 x (N - 4) in all-possible-order « Quinté Plus » combination bets, with one hundred and twenty permutations and (N - 4) « Quinté Plus » bets, in a simple-combination bet.

In the latter case the punter must specify the respective finish positions of the four bankers in his selection. .

**d)**The « four -horse part coverage" combinations encompass all « Quinté Plus " bets combining four bankers with a selection of official runners picked by the punter.

If this selection involves P horses, the « four -horse part coverage » comprises:

120 P in all-possible-order «Quarté Plus » combination bets with one hundred and twenty permutations, and P « Quinté Plus» bets, in a simple-combination bet.

In the latter case the punter must specify the respective finish positions of the four bankers in his selection.

**e)**The «three-horse full coverage» combinations encompass all « Quinté Plus» bets combining three horses selected by the punter with all the other official runners taken two by two.

If the race involves N official runners, the « three-banker full coverage » comprises:

60 x (N - 3) x (N- 4) in-all-possible-order « Quinté Plus » combination bets with one hundred and twenty permutations, and (N - 3) x (N- 4) « Quinté Plus» simple-combination bets.

In the latter case the punter must specify the finish position of the three bankers in his selection, but is not required to specify the relative order of finish of the other horses.

**f)**The « three-horse part coverage" combinations encompass all « Quinté Plus » bets combining three bankers with the punter’s selection of official runners, taken two by two.

If this selection involves P horses, the « three-horse part coverage » comprises:

60 x P x (P - 1) in-all-possible-order « Quinté Plus » combination bets with one hundred and twenty- permutations and P x (P - 1) « Quinté Plus » simple-combination bets.

In the latter case the punter must specify the place at the finish of the three bankers in his combination, but is not required to specify the relative order of finish of the horses selected, since in each five-horse combination there are the two permutations of the horses other than the bankers in the two possible orders of finish.

**g)**The « two-horse full coverage » combinations encompass all « Quinté Plus » bets combining two horses selected by the punter with all the other official runners taken three by three.

If the race involves N official runners, the « two-banker full coverage » comprises:

20 x (N-2) x (N - 3) x (N- 4) in-all-possible-orders « Quinté Plus » combination bets, with one hundred and twenty permutations, and

(N - 2) x (N - 3) x (N- 4) « Quinté Plus » simple-combination bets.

In the latter case the punter must specify the finish positions of the two bankers in his selection, but is not required to specify the relative order of finish of the other horses.

**h)**The « two-horse part coverage » combinations encompass all « Quinté Plus » bets combining two bankers with the punter’s selection of official runners, taken three by three.

.

If this selection comprises P horses, the "two-horse part coverage » combination comprises:

20 x P x (P - 1) x (P - 2) in-all-possible-order « Quinté Plus » combination bets, with a hundred and twenty permutations and P x (P - 1) x (P - 2) « Quinté Plus » simple-combination bets.

In the latter case the punter must specify the finish positions of the two bankers in his selection, but is not required to specify the relative order of finish of the other horses, since in each five-horse combination, there are the six permutations of the horses other than the bankers in the six possible orders of finish.

**i)**One-horse" full coverage" combinations formulas encompass all "Quinté Plus" bets involving one horse selected by the punter with all the other official runners taken four by four.

If the race involves N official runners, the « one-banker full coverage » comprises:

5 x (N -1) (N - 2) x (N - 3) x (N- 4) in-all-possible-order "Quinté Plus" bets, with one hundred and twenty permutations and

(N – 1) x (N – 2) x (N – 3) x (N – 4) "simple-combination "Quinté Plus" bets.

In the latter case the punter must specify the finish position of the banker in his selection, but is not required to specify the relative order of finish of the other horses in his selection.

**j)**The "one-horse part coverage" combinations encompass all "Quinté Plus" bets involving one banker with a selection of the official runners taken four by four selected by the punter.

If this selection comprises P horses, the one-horse part coverage comprises:

5 x P x (P – 1) x (P – 2) x (P – 3) in all-possible-order "Quinté Plus" bets, with a hundred and twenty permutations and P x (P - 1) x (P - 2) x (P – 3) simple-combination « Quinté Plus » bets.

In the latter case the punter must specify the finish position of the banker in his selection, but is not required to specify the relative order of finish of the other horses since in each five-horse combination, there are the twenty-four permutations of the horses other than the banker in the vingt-quatre possible orders of finish..

**k)**The wager amounts of the full coverage combination bets with one, two, three or four bankers is determined as soon as the number of declared runners is known. These amounts may no longer be changed even if some horses are withdrawn before the start of the race.

**k bis)**However, when bets are placed in a betting outlet connected on-line to the PMU central electronic system, the wager amounts of the « full coverage » combinations with one, two, three or four bankers are determined for each race, depending on the number of horses declared runners by the official racecard or by the official PMU list, taking into account, where applicable, the horses declared non-runners at the time of registration of the bet.

**l) **Bets included in a combination bet involving one or several non-runners are dealt with in accordance with Article 95.4 concerning non-runners.

**Article 95.9 - Special cases **

**1. - a)**When in a race with « Quinté Plus » bets, the in the right-order permutation of the five first horses in the right order has not been backed, the portion of the share-out profit corresponding to that permutation serves to determine the dividend of the in-any-order permutations of these same horses

**b)**In the event of a dead heat, if there is no winning bet placed on the in-the-right-order permutation of one of the combinations involving the horses classified in the first five places, the portion of the share-out profit corresponding to that permutation serves to determine the dividend of the in-any-order permutations of these same horses.

If finally, there is no winning bet on any of the combinations eligible for in-the-right-order « Quinté Plus » dividends, paragraphs 1) a) above shall apply.

**c)**If there are no winning bets wagered on the in-any-order permutations of the five first horses or in the event of a dead heat for the in-any-order permutations of one of the combinations of the horses classified in the five first places, the portion of the share-out profit corresponding to these permutations serves to determine the dividend of the in-the-right-order permutation of these same horses.

**d)**In the event of a dead heat, if there are no winning bets wagered either in-the-right order or in any order wagered on one of the payable combinations, the share-out profit corresponding to this combination is shared out in the same proportions among the other payable combinations.

**e)**Finally, if there are no winning bets wagered on any one of the "Quinté Plus" payable combinations, either in the right order or in any order, the total "Quinté Plus" hand-out pool serves to determine the "Bonus 4" dividend.

**2. a)**In the event of a dead heat, if there are no winning bets wagered on one of the "Bonus 4" payable combinations, the share-out profit corresponding to this combination is shared out in the same proportion among the other "Bonus 4" payable combinations.

**b)**If there are no winning bets wagered bets on any one of the "Bonus 4" payable combinations, the total "Bonus 4" hand-out pool serves to calculate the "Bonus 4sur5" dividend.

**c)**If there are no wining bets wagered on any one of the "Bonus 4sur5" payable combinations, the total "Bonus 4sur5" hand-out pool serves to calculate the "Bonus 3" dividend.

**d)**In the event of a dead heat, if there are no winning bets on one of the "Bonus 3" payable combinations, the share-out profit corresponding to this combination is shared out in the same proportions among the other "Bonus 3" payable combinations.

**e)**If there are no winning bets wagered on any one of the "Bonus 3" payable combinations, the total hand-out pool serves to calculate the "Bonus 4sur5" dividend or, in the absence of any winning bet on this combination, it serves to calculate the "Bonus 4" dividend. .

**f)**If there are no winning bets wagered on any one of the "Bonus 4", "Bonus 4sur5" and "Bonus 3" payable combinations, the total "Bonus 4", "Bonus 4sur5" and "Bonus 3" hand-out pool serves to calculate the "Quinté Plus" dividends.

**g)**Finally, if there are no winning bets wagered on any one of the in-the-right-order "Quinté Plus", in-any-order "Quinté Plus", "Bonus 4", "Bonus 4sur5" and "Bonus 3", payable combinations, all "Quinté Plus" bets are refunded.

**3. a)**When in a race, only four horses are classified at the finish, the "Quinté Plus and "Bonus 4sur5" hand-out pools are added to the "Bonus 4" hand-out pool to constitute one hand-out pool which is shared out among all the punters having selected o

ne of the combinations involving the four classified horses, without taking into account the order of finish..

If there are no winning bets wagered on this combination, a single pool is constituted and shared out following the conditions laid down in paragraph b) below.

**b)**When in a race, only three horses are classified at the finish, the "Quinté Plus " hand-out pool and the "Bonus 4" and "Bonus 4sur5" hand-out pools are added to the "Bonus 3" hand-out pool to constitute a single hand-out pool which is shared out among all the punters having selected one of the combinations involving the three classified horses, without taking into account the order of finish.

If there are no winning bets wagered on these combinations, all "Quinté Plus" bets are refunded. , a single pool is constituted and shared out following the conditions laid down in paragraph b) below.

**c)**When in a race, fewer than three horses are classified at the finish, all "Quinté Plus" bets are refunded.

**Article 95.10 - Postponed race**

Revoked by Regulation of 7 March 2011 amending Regulation of 13 September 1985 on Pari Mutuel on- and off-course rules