HOUSE RULES

Applicable to the Fixed Odds Wagering Operations of:

1. Monmouth Park Racetrack
2. MonmouthBets Mobile Application & Website

DEFINITIONS

“Approved Algorithm” means the algorithm approved by the Regulator from time to time for the purpose of calculating deductions. Further set forth in “Deduction Table” Schedule 1

“Approved Betting System” means any of the following systems expressly approved by the Regulator for use by Management in the course of fixed odds wagering operations: (a) Computerized Betting System; or (b) Fixed Odds Wagering System

“Bet” includes wager and “Betting” includes wagering

“Betting Terminal” means the electronic betting terminals at the Racetrack for the purposes of Fixed Odds Betting and includes both teller operated betting terminals and self-service betting terminals

“Betting Ticket” includes any document or instrument purporting to be or usually or commonly known as a Betting Ticket or giving or purporting to give or usually or commonly understood to give any right, title, chance, share, interest, authorization, or permission in or in connection with any Betting Transaction

“Betting Transaction” means a contract between Management and a Customer, by which a Bet or wager is placed with and accepted by Management

“Cash Bet” means a Betting Transaction in respect of which the total amount of the Betting Transaction is paid to or otherwise held by Management before or at the time that the Betting Transaction is entered into

“Closing Price” means the official final Fixed Odds price offered by Management on a horse before betting is closed and the race starts. The actual Closing Price payout is not published until the race is deemed official. The maximum Closing Price bet amount allowed for each wager is determined on a case-by-case basis by Management . Races and venues where Closing Price is offered are at the discretion of Management. In the event of a race not having a final fixed odds price source, the official tote price will be the dividend paid out.

“Computerized Betting System” means a system approved by the Regulator for use by Bookmakers, which may be comprised of computer equipment and software and by which bets may be recorded and Betting Tickets issued. The system must immediately issue a Betting Ticket to the Customer by means of a Computerized Betting System

“Customer” means a person from whom Management accepts a Bet

“DGE” means the New Jersey Division of Gaming Enforcement

“Face Value” means the total sum of moneys payable to the Customer including the Stake in the event of a Bet being successful

“Fixed Odds” means customers are able to secure a given odds price at the time of placing their Bet. This price will not be subject to any future fluctuations however there may be deductions applied in the event of scratching’s or withdrawals that occur after a Bet is placed

“Fixed Odds Wagering System” means a system approved by DGE which may be comprised of computer equipment and software by which fixed odds wagers may be recorded and betting tickets issued or wagers recorded in person, by direct phone call or online.

“Management” means BetMakers MTS, LLC and its related bodies corporate acting as Fixed Odds Wagering Agent for the Racetrack

“MonmouthBets” means the MonmouthBets branded mobile application and/or the website (www.monmouthbets.com)

“Odds” means when expressed in monetary terms, the return for a Stake of a certain monetary unit, inclusive of the unit of Stake

“Payout” means the agreed payout or return, including any Stake, on a Bet

“Race ‘official’” means a declaration by the Stewards officiating at a race meeting that the result of a race is final

“Racetrack” includes any racetrack, training ground or land over which Darby Developments LLC, the operating agent for Monmouth Park Racetrack in the State of New Jersey, has the control or management for racing or training purposes

“Regulator” means the New Jersey Racing Commission (NJRC) or DGE

“Same Race Parlay” bet means a ‘multi-bet’ where selections are made on multiple horses to win, and/or finish within the top two, three, or four in respect to a single race.

“Stake” means the monetary outlay by a Customer in placing a Bet

“Void” means that the Bet is cancelled as if it had not been made and the Stake must be refunded

“Win” means the profit portion of a Payout, being the Payout less any Stake outlaid by the customer

1. MANAGEMENT

a. Management reserves the right to add, delete, or change the House Rules and/or Payout Odds subject to regulatory approval

b. Management reserves the right to refuse any Bet or delete or limit any selection(s) prior to the acceptance of the Bets

c. Management determines the minimum and maximum Bets on all events

d. The use of two-way electronics communication devices while you are at the Racetrack placing a Bet via the counter is prohibited

e. New Jersey law prohibits persons under the age of 18 from Betting, collecting winning Bets or loitering in any race book area of the Racetrack.

f. All Bets will be deemed to have been accepted from the individual placing the Bet only, and not on behalf of any entity

g. Payouts are calculated as the Stake multiplied by the Odds, less any applicable deductions (deductions calculated in accordance with Approved Algorithm)

h. Payouts over $10,000 may be delayed until the next regular banking day

i. For Payouts above $50,000, management reserve the right for payment via check or wire transfer

j. Bets may be accepted at other than the posted odds, please check your Betting Ticket prior to leaving the window

k. House Rules are subject to change; please refer to the online published House Rules which will be the latest version. If there is a conflict between a stipulation on any copy and the online version, the stipulation of the online version will prevail.

l. Management will keep a record of all odds, results, and related betting proposition statistics to protect both the Customer and the Manager in case of an obvious computer, mechanical, technical, or human error

m. Management will not accept wagers at other than the posted terms unless directed to do so by an applicable Regulator.

n. Management notifies Customers of odds or proposition changes as follows:

• i. Retail Bets – any changes to Payouts are calculated in accordance with the deduction table, as referred to on the Betting Ticket;
• ii. Online Bets – any changes to Payouts can be found in the “Account Transaction” section of the MonmouthBets website or mobile application.

o. Management shall only use Approved Betting Systems during operations.

p. Customers may fund Bets via the following methods:

• i. Retail – teller terminals and self-service terminals at the Racetrack accept cash or winning Betting Tickets.
• ii. Online – please refer to “Online Deposits & Withdrawals” below.

2. BETTING TICKET ACCURACY

i. Customers are responsible for ensuring that they confirm their Bet selections are correct before placing the Bet. Betting Tickets go as final once:

1. at the terminal: the Customer prints the Betting Ticket. Once a Customer prints the Betting Ticket at a terminal, a Betting Ticket will not be altered or voided except at the discretion of Management.

2. at a counter: the Customer leaves the counter. Once a Customer leaves the counter, a Betting Ticket will not be altered or voided except at the discretion of Management

ii. The time on the Betting Tickets is US Eastern Time

iii. No winning Bet will be paid without the customer’s copy of the Betting Ticket, except for lost, stolen or unreadable Betting Tickets which will be honored as stated below

iv. Management is not responsible for lost, stolen, altered or unreadable Betting Tickets. For all honored lost or stolen Betting Tickets, where the rightful owner of a winning Betting Ticket can be determined, payment will be made as soon as possible. For all lost, stolen, or unreadable Betting Tickets where the rightful owner cannot be immediately determined the waiting period for honored claims will be within 365 days from the date of event before processing for payment if applicable

v. Winning Betting Tickets are deemed Void and expired after 365 days from conclusion of the event

b. Online

• i. Customers are responsible for ensuring that they confirm their Bet selections are correct before placing the Bet.
• ii. The time on the Betting Tickets is US Eastern Time

3. ONLINE DEPOSITS & WITHDRAWALS

a. All money deposited into an Account must originate from a payment source of which the Customer is the legal owner. b. All money that deposited into an Account shall be free from any illegality and shall not originate from any illegal activity or source. c. All payments made into an Account will be deemed authorized and the Customer will not attempt to reverse a payment made into an Account or take any action which will cause such a payment to be reversed by a third party in order to avoid any legitimate liability.

d. Customers accept that all transactions may be monitored for the detection of money laundering and that any transactions made by you which Management deems suspicious may be reported to the appropriate authorities.

e. Deposits to an Account can be made via debit or credit cards with the MasterCard or VISA logo. Additional methods may be available from time to time, for up to date information consult the MonmouthBets mobile application or website.

f. As part of ongoing commitment to maintain the security of Customer funds, several controls take place before any withdrawal request is processed. Withdrawals from an Account via check are processed and mailed via United States Postal Service and checks should arrive within 5-8 business days.

4. METHODS OF REDEMPTION

a. Retail

• i. A Customer may receive a Payout for a winning Betting Ticket by presenting the winning Betting Ticket to a teller at the Racetrack.

b. Online

• i. A Customer will receive a Payout for a winning Bet directly into their online account.

5. RECORDING OF BETTING TRANSACTIONS

a. Management properly, accurately, and completely records Betting activity and information in a form approved by the Regulator. The Betting activity recorded includes but is not limited to any Bets made and any Bets which may have been cancelled or are unpaid.

b. Betting Transactions: all Betting Transactions are recorded by Management including:

• i. particulars of the Betting Transaction, including figures representing dollars and decimals of a dollar; and
• ii. the number of the Betting Ticket issued to the Customer in respect of the Betting Transaction.

c. Recording results: Immediately after each race or event has been decided, Management shall record:

• i. the competitors obtaining first, second and third places; and
• ii. the total amounts held and amounts payable in respect of the race or event.

6. REPORTING

a. Provision of information at race meetings

• i. At each race meeting when requested, Management will provide and make available to Regulatory personnel access to any Approved System and all information contained therein, details of all Bets and the aggregate amount of all Bets accepted at the race meeting.

b. Minimum Information Required

• i. At a minimum, Management is required to provide Regulators access to details of every Bet recorded including:

1. Race level reports;
2. Reporting by runner;
3. Reporting by customer
4. Reporting by venue.

7. RULES OF RACING

a. Unless otherwise specified, races must take place on the track and date scheduled, or the Bets are considered Void.

b. A jockey change will not affect Betting Ticket status – all Betting Tickets will remain valid.

c. Official results will be determined by the host track on the day of the race and will be considered as final by Management for Betting purposes. Any subsequently overturned decisions will be disregarded

d. Betting Tickets will not be altered or voided prior to post time except at the discretion of Management and with approval of both parties

e. All Bets between Management and a Customer are subject to the laws of the State of New Jersey and bound by these House Rules and any rules enforced by the Regulator

f. “Prohibited Participants” as defined by the New Jersey Racing Commission are those individuals determined by a Regulator from time to time to be prohibited from participating in Betting on races and/or events, including those persons with insider knowledge. For an up-to-date list of Prohibited Participants, please refer to the New Jersey Racing Commission’s website.

g. A copy of these House Rules will be made available:

i. at Tellers located at the Racetrack

ii. in the footer of the “MonmouthBets”:

1. Website – www.monmouthbets.com;
2. Mobile application.

h. Management may specify additional terms for Bets with his or her customers in respect of issues not dealt with by these Rules, provided that:

i. the additional terms are in writing are clearly identified as “Additional Terms Applicable to Bets with (name of Management)”; and

ii. a copy of the additional terms is given by Management to:

1. Customers before any Betting transaction is entered into which is subject to them; and
2. the Regulator.

iii. The Regulator may disallow any or all such additional terms.

8. GENERAL RULES

a. Possibility to win is essential: a Bet is Void if, at the time that the Bet is made, there is no possibility for the Customer to win

b. Bets which are void: a Bet is Void if at the time the Bet is made, the race or event has commenced.

c. Bet after race determined: any Bet made after the result of the race has been determined is Void.

d. Allegation of fraud or corruption: the Stewards may investigate any allegation of fraud or corrupt practices and declare any particular bets Void

e. Bets on horses disqualified prior to race ‘official’: Bets made on horses that are disqualified prior to race ‘official’ shall not be Void by reason of the disqualification

f. Technical faults affecting bets generated: If there is a technical fault which causes the information on the issued Betting Ticket to be incorrect, the Bet will be determined as Void (except for circumstances including, but not limited to, incorrect odds quoted by Management, in which the bet will stand)

9. DETERMINATION OF RESULTS OF BETS

a. Bets to be won as horses placed

• i. Subject to the following paragraph (ii), Bets go to the backers of horses as placed by the Stewards; and
• ii. If an objection is entered in accordance with the Rules of Racing before the riders of the horses placed by the Stewards have been declared official, Bets are decided based on the Stewards decision on the objection

b. Disqualification of horse or jockey: If a horse or jockey is disqualified and there are circumstances in connection therewith which in the opinion of the Stewards require further investigation, then:

• i. Management may forthwith make an order postponing the settlement of all Bets on such race, and report the matter to the Regulator; and
• ii. the Regulator may make such declaration as they think fit in respect of the Betting and may declare all or any Bets on such race to be Void

c. Effect of an appeal

• i. If there is an appeal entered against a disqualification and notice of appeal has been made in accordance with applicable rules, the Regulator may deal with the Betting on the race in the manner set out above based on evidence given on such appeal

d. Withdrawal of horse or horses:

• i. The following Rules relating to withdrawals apply if the Stewards:

1. permit or authorise the withdrawal of a horse from a race after:

a. final acceptances for races on which future win/place betting operates; b. the official scratch time for the race card for all other races

2. declare a horse to be a non-starter

• ii. One Horse Withdrawn: If one horse is withdrawn or declared a non-starter, then, subject to paragraph 2 below,

a. All Bets made on the horse for such race are void; and

b. All Bets that are win, place or show made before such withdrawal or race start (whichever is applicable) on the horses remaining in the race stand, but Management may declare that all such Bets will be subject to deductions in accordance with the Approved Algorithm or deductions scale and applied to the Face Value of the Betting Ticket; or

2. If the Odds prevailing for the one horse which is withdrawn or prevented from starting are outside the limits (at either end) of the Odds enumerated the deductions scale (or as applicable) or are included in the Odds so enumerated, the matter of the settlement of all Bets is in the sole discretion of Management to determine as they see fit.

• iii. Two or more horses withdrawn: If two or more horses are withdrawn or prevented from starting as prescribed above, Management may determine the deductions and settlement of all Bets as follows:

1. in relation to win, place and show Bets placed prior to the withdrawals shall be subject to a deduction calculated in accordance with the Approved Algorithm and deductions scale (or as otherwise determined by the Stewards in their discretion) and declared by Management and applied to the Face Value of the Betting Ticket; or

2. in relation to all other Bets, in their sole discretion

e. Bets on races outside of Monmouth Park: in respect of all Bets made on a race run outside of races conducted at the Racetrack, deductions are to be made at the discretion of Management, either:

• i. on the same basis as is ordered by the management or Stewards officiating at the race meeting at which such race is held; or
• ii. in accordance with the Approved Algorithm or deductions scale (as applicable).

f. Limit on deductions: Notwithstanding the provisions contained in the deduction scale or any calculation made in accordance with the Approved Algorithm, but subject to paragraph (g) below, except in the case of a dead heat, no deduction may be made which would return to the Customer a sum less than the Stake or amount Bet.

g. Dead Heats: In the event of a dead heat, the Face Value of the Betting Ticket for horses involved in the dead heat are equally divided.

10. BETTING OBLIGATIONS TO THE CUSTOMER

a. Betting Limits: Management shall accept all bets in the categories described below to the maximum amounts as follows:

i. Monmouth Park Race Meeting

1. In any one win or win/place/show Bet: for Customer to win $2,500 on day of actual race day
2. In any one place or show Bet: for customer to win $1,000 on day of actual race day

ii. Other Race Meetings

1. In any one win or win/place/show: for Customer to win $2,500 on day of actual race day
2. In any one place or show Bet: for Customer to win $1,000 on day of actual race day

iii. Prior to Race Day

1. Prior to the actual race day, betting limits are at the discretion of Management. These amounts are subject to change at the discretion of Stewards, Management or Regulators.

b. Minimum Bet Stake

• iv. Retail – The minimum Stake is $0.50
• v. Online – The minimum Stake is $0.50

11. BETTING TYPES

a. Win Bets: Win bets are paid out on bets that are placed on a particular horse to run in First place. Win markets will be offered where there is more than one runner.

b. Place Bets: Place bets are paid out on bets that are placed on a particular horse to run in First place or Second place. Place markets will be offered where there are more than three runners.

c. Show Bets: Show Bets are paid out on bets that are placed on a particular horse to run in First place, Second place or Third place. Show markets will be offered where there are eight or more runners.

d. Closing Price: Where a Customer selects “Closing Price” when placing a Win Bet, Place Bet and/or Show Bet, any Payout will be calculated using the Closing Price. In placing a closing price bet, the customer acknowledges and accepts the pricing system as outlined and defined on Page 2.
e. Same Race Parlays:

• i. Same Race Parlay bets are paid out where the selected horses finish exactly as selected on the Betting Ticket
• ii. Same Race Parlay bets must consist of a minimum of two selections and a maximum of four selections in a single race
• iii. In the event that one or more selections in a Same Race Parlay bet are scratched, the bet will be Void and the Stake returned to the customer
• iv. In the event of a dead heat in one or more Same Race Parlay selections, Dead Heat rules will apply (see Section 9(g))
• v. In the event that a race is reduced to less than six (6) runners, all Same Race Parlay bets made prior to the reduction in the field size will be Void and the Stake returned to the Customer
• vi. Deductions (Deductions Table in Schedule 1) will apply o the Same Race Parlay bets where scratchings occur after the Same Race Parlay bet has been made (e.g. scratching of horses other than the selections in the Same Race Parlay.

f. Effect of withdrawal of horses in Win, Place, and Show bets: If the Stewards permit or authorize the withdrawal of a horse or horses from a race which results in the field being reduced to:

• i. less than two runners, all win Bets are Void
• ii. less than four runners, all place Bets are Void
• iii. less than eight runners, all show Bets are Void

12. DISPUTES

If a Customer has complaints, claims or disputes, Management can be contacted as follows:

• a. Email – support@monmouthbets.com
• b. Post: Monmouth Park Racetrack ATTN: “Monmouth Park” – Compliance Department; 175 Oceanport Ave Oceanport, NJ 07757

---

Schedule 1: Deduction Table

All Fixed Odds bets placed on Final Field markets are subject to deduction.

No deduction is applied for emergencies unless the runner gains a start in the field and is promoted to being a runner.

No deductions are taken for runners priced at $31 or greater.

Fixed Odds Price $	Amount to be Deducted Per $ on Face Value of Betting Ticket – Win	Amount to be Deducted Per $ on Face Value of Betting Ticket – Place	Amount to be Deducted Per $ on Face Value of Betting Ticket – Show
1.01	0.76	0.40	0.26
1.02	0.75	0.40	0.26
1.03	0.75	0.40	0.26
1.04	0.73	0.40	0.26
1.05	0.73	0.40	0.26
1.06	0.73	0.40	0.26
1.07	0.73	0.40	0.26
1.08	0.72	0.40	0.26
1.09	0.72	0.40	0.26
1.10	0.72	0.40	0.26
1.12	0.71	0.40	0.26
1.14	0.71	0.40	0.26
1.16	0.71	0.40	0.26
1.18	0.69	0.40	0.26
1.20	0.69	0.39	0.26
1.22	0.67	0.39	0.26
1.24	0.65	0.38	0.26
1.25	0.65	0.38	0.26
1.26	0.65	0.38	0.26
1.28	0.65	0.38	0.26
1.30	0.65	0.38	0.26
1.35	0.62	0.38	0.26
1.40	0.60	0.37	0.25
1.45	0.56	0.37	0.25
1.50	0.55	0.37	0.25
1.55	0.53	0.36	0.24
1.60	0.51	0.36	0.24
1.65	0.49	0.35	0.24
1.70	0.47	0.34	0.24
1.75	0.46	0.34	0.23
1.80	0.45	0.34	0.23
1.85	0.44	0.33	0.23
1.90	0.43	0.33	0.23
1.95	0.41	0.32	0.22
2.00	0.40	0.32	0.22
2.05	0.40	0.32	0.22
2.10	0.39	0.31	0.22
2.15	0.37	0.31	0.21
2.20	0.36	0.30	0.21
2.25	0.36	0.30	0.21
2.30	0.35	0.29	0.21
2.35	0.34	0.29	0.21
2.40	0.33	0.29	0.20
2.45	0.31	0.28	0.20
2.50	0.31	0.28	0.20
2.60	0.30	0.27	0.19
2.70	0.29	0.27	0.19
2.80	0.28	0.26	0.18
2.90	0.27	0.25	0.18
3.00	0.26	0.25	0.18
3.10	0.25	0.24	0.17
3.20	0.24	0.23	0.17
3.30	0.23	0.22	0.16
3.40	0.22	0.22	0.16
3.50	0.22	0.22	0.16
3.60	0.21	0.21	0.15
3.70	0.20	0.21	0.15
3.80	0.20	0.20	0.15
3.90	0.19	0.20	0.14
4.00	0.19	0.20	0.14
4.20	0.18	0.19	0.14
4.40	0.18	0.19	0.14
4.50	0.18	0.19	0.14
4.60	0.16	0.18	0.14
4.80	0.15	0.17	0.13
5.00	0.15	0.17	0.13
5.50	0.13	0.15	0.12
6.00	0.12	0.15	0.12
6.50	0.11	0.14	0.11
7.00	0.10	0.13	0.10
7.50	0.09	0.12	0.09
8.00	0.08	0.11	0.08
8.50	0.08	0.11	0.08
9.00	0.07	0.10	0.07
9.50	0.07	0.10	0.07
10.00	0.06	0.08	0.06
11.00	0.05	0.07	0.05
12.00	0.05	0.07	0.05
13.00	0.04	0.06	0.04
14.00	0.04	0.06	0.04
15.00	0.03	0.04	0.03
16.00	0.03	0.04	0.03
17.00	0.03	0.04	0.03
18.00	0.02	0.03	0.02
19.00	0.02	0.03	0.02
20.00	0.02	0.03	0.02
21.00	0.02	0.03	0.02
22.00	0.02	0.03	0.02
23.00	0.02	0.03	0.02
24.00	0.02	0.03	0.02
25.00	0.02	0.03	0.02
26.00	0.02	0.03	0.02
27.00	0.02	0.02	0.02
28.00	0.02	0.02	0.02
29.00	0.02	0.02	0.02
30.00	0.02	0.02	0.02