OFFICIAL RULES

THE SHARPEST MINDS SERIES (SMS) TOURNAMENT MATCH #1

"THE QUEST FOR THE SHARPEST MINDS OF THE YEAR"

1. PLAYER'S BANKROLL

The 2015 Sharpest Minds Series Tournament Matches (the “Tournaments” or "SMS Tournaments") are a series of "real money" handicapping challenges. Players will be required to deposit $4,000, of which $2,000 will be the players’ bankroll for wagering during the SMS Tournament and the remaining $2,000 will be used for prize pools and operating the tournament. At the conclusion of the SMS Tournament, any dollar amount remaining in the bankroll — whether it grows to $10,000 or falls to $1 — remains the property of the player.

2. TO ENTER

Email the entry form to (info @ thesharpestminds.com) or complete the following entry form: The Sharpest Minds Entry Form Match #1 (PDF) and deliver in person to a wagering facility that hosts SMS Tournaments. Cash entries must be handed over to SMS Tournament officials on the day of registration and checks must be made out to the wagering facility or host racetrack. Write "SMS Tournament" on the check.

3. FORMAT

For every SMS Tournament in the series, a different set of races will be chosen based on the current Thoroughbred races available. The only wager types permitted are the win bet, the exacta, and the trifecta. No other bets will be allowed to be placed in the SMS Tournaments. Players must comply with the minimum wagering requirements noted below.  

A minimum of $2000 must be bet cumulatively over the course of the two days before the second to last designated race of the SMS Tournament Match #1.  A player will be disqualified from any prize pool money if these requirements are not met and any remaining balance will be returned to the player.  Furthermore, in the event of a disqualification, the player will earn zero earnings for SMS Tournament Match #1.  He/she will still be eligible to use earnings from other SMS tournaments (other than Match #1) for "The Sharpest Minds of the Year" prize pool.

Only races approved by the SMS Tournament Match #1 officials may be wagered upon within the SMS Tournament. There are no caps on payouts. The player with the highest score, (which is calculated by taking player’s total bankroll less any applied penalties) on Sunday, June 7th, 2015 is the grand prize winner and those that finish 2nd and 3rd also will win prize money.

For SMS Tournament match #1, the eligible races will include live races from (Santa Anita, Belmont Park, Churchill Downs, Gulfstream Park, Monmouth Park, Woodbine, and Arlington Park) unless otherwise notified on the days of the SMS Tournament.

The Sharpest Minds Series Tournament Match #1 will start on Saturday June 6th with the first race of the day from the listed Thoroughbred tracks above and will end on Sunday, June 7th, 2015 with the second to last race from Santa Anita racetrack.

4. ESTIMATED PRIZES

Of the $4,000 buy-in, $200 will go to Absolute Value LLC to cover expenses related to the SMS Tournaments, $1,350 per participant will be placed in the SMS Tournament Match #1 weekend warrior prize pool and $450 per player will be placed into a separate prize pool for "The Sharpest Minds of the Year" to be paid at the conclusion of 10 SMS Tournament matches to the top 3 in cumulative earnings over the 10 SMS tournaments.

The SMS Tournament Match #1 weekend warrior prize pool shall be divided among the top 3 in earnings as follows:

* 65% to the person with the highest earnings over the 2 days of the SMS Tournament

* 27% to the person with the second highest earnings over the 2 days of the SMS Tournament

* 8% to the person with the third highest earnings over the 2 days of the SMS Tournament

For the SMS Tournament Match #1 weekend warrior payouts, the unofficial prize pool across all outlets will be announced on the first day of the SMS Tournament.

Based on 100 or more players entered across all jurisdictions entering the SMS Tournament Match #1, the unoffical prize pool across all outlets would be a minimum of $135,000 with $87,750 awarded to the person with the highest earnings, $36,450 awarded to the person with the second highest earnings, and $10,800 awarded to the person with the third highest earnings.

For "The Sharpest Minds of the Year" prize payouts, over the course of all 10 SMS Tournaments, the unofficial prize pool across all outlets based on 100 or more players per SMS Tournament would be a minimum of $450,000 with $292,500 awarded to the person with the highest cumulative earnings, $121,500 awarded to the person with the second highest cumulative earnings, and $36,000 awarded to the person with the third highest cumulative earnings. 

5. PLAYER CARDS

It is the player’s responsibility to load their player card for wagering purposes for each SMS Tournament unless otherwise notified at the wagering facility.  The various wagering outlets may indeed load the $2,000 for each player depending on the preference of the wagering facility. Each participant will be issued a player card to be used for the SMS Tournament wagers. This account-wagering card contains the "real money" bankroll of $2,000. Upon receipt, participants should test the card in self-service machines (or as directed at satellite locations) to become familiar with placing wagers and ensure the card is working properly. If a player loses his/her card or the card is not working, the player is responsible for immediately reporting the issue to SMS Tournament officials so they may resolve the problem. Players must make only SMS Tournament wagers on this card.  If a player adds an additional money to the card besides the initial $2,000 once the SMS Tournament has started, the player will be disqualified.

6. PLACING WAGERS

All SMS Tournament wagers may be placed through any self-service machines throughout the wagering locations unless otherwise instructed by SMS Tournament officials and in writing.  Wagers will not be accepted through mutuel tellers at wagering facilities (unless otherwise notified by SMS Tournament officials) but there are numerous self-betting machines located throughout the wagering facilities. There is no requirement for participants to play in the SMS Tournament from a designated location. Players must place all wagers personally. No person shall directly or indirectly act as an intermediary, transmitter or agent in placing wagers for the player, unless authorized by SMS Tournament officials. No player shall make advanced wagers with the intent to manipulate the leaderboard. All official track rulings will apply to wagers placed in the SMS Tournament except as otherwise stipulated. The SMS Tournament will be based on the official placement and mutuel prices at the tracks listed above. If a player wagers on a track other than the tracks listed for purposes of the contest, the player may be disqualified or assessed a penalty of the wagering amount placed on the unrecognized racetrack.

7. IRS WITHHOLDING

If winnings less the wager exceed $5,000 and if the winnings are at least 300 times the amount of the wager, IRS withholding will automatically be deducted from the player's card. Whereas, for SMS Tournament scoring purposes, the gross amount of the winning wager will be recorded in the player's score. Please note for purposes of wagering in the SMS Tournament, only the net amount (the amount received after the IRS withholding) will be available to the player.

8. SCRATCHES

If a horse is scratched after a wager is placed, it is the player's responsibility to change his/her selection prior to the race subject to all other SMS Tournament wagering rules.

9. TIES

In the result of a tie for a cash prize placing, the prize money will be divided equally among the players involved.

10. SMS TOURNAMENT STANDINGS

Officials will use best efforts to endeavor to post the standings on paper every 2 hours at the registration desk or on TV monitors (wherever possible) throughout the wagering facilities on the dates of the SMS Tournament and at satellite locations every two hours of the SMS Tournament on Saturday and Saturday, June 6th and June 7th 2015. Officials may also email the standings to all participants upon request. Issues related to IRS withholding, late scratches or other matters could delay the posting of the scores. All standings are unofficial until the final results are audited and posted. Players are encouraged to maintain an accurate record of their wagers and scoring.

11. AGE INELIGIBILITY / DISCLOSURE

Players must be at least 18 years of age to participate in the SMS Tournaments. Players participating in a SMS Tournament who are physically located in Nevada during the SMS Tournament must be 21 years of age to participate. The following are ineligible to participate in this contest: licensed trainers or employees of Breeders’ Cup Limited, National Thoroughbred Racing Association, Santa Anita, Churchill Downs, Woodbine, Monmouth Park, Arlington Park, Del Mar, Keeneland, New York Racing Association, Gulfstream Park, Sportech, United Tote, AmTote, or any of their subsidiaries, or members of their immediate families, including spouses, children, siblings and parents of any of the foregoing. If anyone has any ownership interest in any horses running in any of the applicable SMS Tournament races then all involvements must be fully disclosed in advance to SMS Tournament officials or risk being disqualified.

12. TAXES

Liability for any and all federal, state, and local taxes is solely the responsibility of prize winners.

13. WAGERING ACCOUNTING

The tote company at each wagering facility or racetrack will disclose to the operators of the racetrack or the satellite wagering facility the results of the SMS Tournament wagers per player and then shall submit them to Absolute Value LLC in the form of a digital file with all wagering results.

14. AFFIDAVITS

Affidavits confirming compliance of all the rules of this SMS Tournament will be required of all players. All prize winners acknowledge that if they enter this SMS Tournament under a fraudulent name and/or Social Security number, they will be immediately disqualified from this and all future SMS Tournaments held by Absolute Value LLC and its facility partners. Positive identification is required of all prize winners. Positive identification is a valid government issued ID with a picture and the same address and birth date used on the entry forms, and/or such other form of identification as deemed adequate by contest officials. Social Security information is also the responsibility of the player. Contestants shall play only one entry. Collusion of entries is prohibited, as is any attempt to manipulate the results of the SMS Tournament.

15. JUDGING AND DISPUTES

The management of Absolute Value LLC reserves the right to interpret all questions and conditions in regard to this SMS Tournament, without claim for damages or recourse of any kind. The management of Absolute Value LLC will decide all questions and definitions covered and not covered explicitly in these rules and their decisions shall be final. In the event any potential prize winner is disqualified or determined not to be eligible by the Absolute Value LLC, in their sole discretion, the Player with the next highest total bankroll will be declared the winner of the prize, and each successive Player will be moved up accordingly.

16. PRIVACY POLICY

Information submitted on the Registration Form and any information provided in connection with the SMS Tournaments (including wagering results) will be retained by Absolute Value LLC and may be used for marketing, television, research, or other commercial and non-commercial purposes. In addition, Absolute Value LLC and its partners and affiliates may send each Player promotions or announcements unless the Player specifically requests that the Absolute Value LLC not do so in the manner provided in the Registration Form. Information regarding the Players may be provided to the entity organizing the SMS Tournaments, and their partners and affiliates.

17. DISQUALIFICATION FOR UNSPORTSMANLIKE BEHAVIOR AND/OR VIOLATION OF THE RULES

Absolute Value LLC, in its sole discretion, reserves the right to disqualify any Player it believes to be tampering with or attempting to tamper with the betting process and/or operation of the SMS Tournaments or any Player it believes to be in violation of the Official Rules or to be acting in an unsportsmanlike manner or with the intent to annoy, abuse, threaten, coerce or harass any other person or any person it believes to have influenced or attempted to influence the play of other Players, whether through potential bonuses, incentives or otherwise.

18. GENERAL PROVISIONS

* Absolute Value LLC is not responsible for lost, interrupted, incomplete, inaccurate or incorrect capture of betting information or for computer, telephone, cable, network, electronic or Internet hardware or software malfunctions, failures, connections, availability or jumbled transmissions, service provider accessibility or availability, or unauthorized human intervention.

* Players are responsible for the payment of all local, state and/or federal taxes on prizes won.

* Players who are not United States citizens or Permanent Resident Aliens may be subject to federal tax withholding by the casino.

* All trademarks used in connection with SMS Tournaments and the promotion thereof are the property of their respective trademark owners and are used for identification purposes only.

* By participating, Player agrees to be bound by the terms of these Official Rules.

* By participating, Player agrees to the use of Player's name, photograph, video, film, voice and likeness for the purpose of advertising and promotion in connection with the Absolute Value LLC and their partners and affiliates, without further compensation, except where prohibited.

* By participating, Player agrees to release Absolute Value and their partners and affiliates, and the directors, employees and agents of each, from any liability, loss or damage incurred by the use, misuse or acceptance of the prize.

* Absolute Value LLC reserves the right to cancel or modify the SMS Tournaments and/or the Official Rules without notice prior to the start of an SMS Tournament match. In the event of inconsistency between these Official Rules and any other document provided in connection with the SMS Tournament, the terms of these Official Rules shall be controlling.

* Absolute Value LLC will announce the sponsors of the SMS Tournaments.

19. ARBITRATION

In the event of a dispute or question regarding these rules or this promotion, Absolute Value LLC will attempt to resolve the situation to the satisfaction of all parties; however, if not resolved, all parties agree to choose arbitration to resolve all legal disputes whatsoever unless otherwise agree to in writing by all parties.