Accurate calculations of settlements and distributions requires the daily processing of conventional and exotic pools by location, association and type of race.
Total amounts retained from the public (takeout & breakage), plus the total amount payable to the public are balanced back to total track handle. Handle, along with prospective distributions, can be queried and sorted by On-Track, Off-track and Out of State wagers. Further queries include date ranges, breeds, live, interstate, international, etc.. Presently the CHRIMS staff, with our own in-house software tools, load and balance pari-mutuel data daily. The operation of CHRIMS occurs in three phases:
Data Acquisition: Each night after racing for the day has concluded, the CHRIMS system electronically and automatically downloads the complete end-of-session reports from each tote company. This is a data stream which includes all wagering activity conducted through pools, down to the level of individual teller transactions.
Data Processing: Each morning, the CHRIMS data staff supervises the compilation of tote data into usable information units (pool-by-pool, site-by-site, handle, takeout, breakage, payout, etc.). This information is then processed using tables prescribing statutory and contractual takeout distribution formulas to produce a new set of information separating pari-mutuel revenue allocations. This processed information is then available electronically to an official auditor for review and archived and made available throughout the system’s network of users.
Information Dissemination: All wagering and takeout information is locked into the system and opened to the CHRIMS network in the form of queried data-sets: Reports detailing the complete breakdown of handle by date, site, pool, type of wagering event, etc. System users may query the database across a variety of parameters to obtain consistent, reliable information for accounting purposes, statistical analysis, confirmation of pari-mutuel receipts due, interstate simulcast settlements and more.